How Much Oil is Left?
1. Saudi Arabia: Fueling Extremism?
Oil reserves: 260 billion barrels
Ali Al-Nuaimi, the Saudi Arabian oil minister, walks past an armed guard. As the world’s leading petroleum export country, Saudi Arabia has about a quarter of the world’s proven petroleum reserves. While the Saudi monarchy fights terrorism, wealthy Saudis have been accused of supporting extremist organizations. (Photo: Reuters)
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1. Saudi Arabia: Fueling Extremism?
Oil reserves: 260 billion barrels
Ali Al-Nuaimi, the Saudi Arabian oil minister, walks past an armed guard. As the world’s leading petroleum export country, Saudi Arabia has about a quarter of the world’s proven petroleum reserves. While the Saudi monarchy fights terrorism, wealthy Saudis have been accused of supporting extremist organizations. (Photo: Reuters)
How Much Oil is Left?
2. Canada: Oil Sands
Oil reserves: 180 billion barrels
Heavy equipment mines the Athabasca oil sands in Alberta, Canada. Taking the Alberta oil sands into account, Canada holds the world’s second-largest oil reserves. Previously, the oil sands were considered too expensive to develop. Advances in extractive technologies and rising oil prices, however, have made the oil sands economically viable. (Photo: Reuters)
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2. Canada: Oil Sands
Oil reserves: 180 billion barrels
Heavy equipment mines the Athabasca oil sands in Alberta, Canada. Taking the Alberta oil sands into account, Canada holds the world’s second-largest oil reserves. Previously, the oil sands were considered too expensive to develop. Advances in extractive technologies and rising oil prices, however, have made the oil sands economically viable. (Photo: Reuters)
How Much Oil is Left?
3. Iran: Challenging a Superpower
Oil reserves: 133 billion barrels
U.S. warships sail through the Persian Gulf to hold drills off Iran's coast in May 2007. The Straits of Hormuz, a narrow channel off Iran's coast, is a major artery for global oil shipments. Oil markets fear a U.S. led invasion in Iran, which has the world's second largest reserves of conventional crude oil. The U.S. and other governments suspect Iran is developing nuclear weapons. (Photo: Reuters)
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3. Iran: Challenging a Superpower
Oil reserves: 133 billion barrels
U.S. warships sail through the Persian Gulf to hold drills off Iran's coast in May 2007. The Straits of Hormuz, a narrow channel off Iran's coast, is a major artery for global oil shipments. Oil markets fear a U.S. led invasion in Iran, which has the world's second largest reserves of conventional crude oil. The U.S. and other governments suspect Iran is developing nuclear weapons. (Photo: Reuters)
How Much Oil is Left?
4. Iraq: Oil and Blood
Oil reserves: 115 billion barrels
Iraq has the third-largest reserves of conventional oil in the world, but instability has forced the country to import refined oil products. Iraq has enough oil and its production costs are among the lowest in the world. Technical problems with oil infrastructure, corruption, theft of oil, mismanagement, and sabotage have debilitated its oil industry. (Photo: Reuters)
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4. Iraq: Oil and Blood
Oil reserves: 115 billion barrels
Iraq has the third-largest reserves of conventional oil in the world, but instability has forced the country to import refined oil products. Iraq has enough oil and its production costs are among the lowest in the world. Technical problems with oil infrastructure, corruption, theft of oil, mismanagement, and sabotage have debilitated its oil industry. (Photo: Reuters)
How Much Oil is Left?
5. United Arab Emirates: A Future without Oil
Oil reserves: 98 billion barrels
Massive construction work at the beach in Dubai shows the country’s effort to diversify its economy as it weans itself off dwindling crude oil reserves. Although the country has recently started to look for other sources of revenue, about 30 percent of its GDP is still based on oil and gas output. (Photo: Reuters)
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5. United Arab Emirates: A Future without Oil
Oil reserves: 98 billion barrels
Massive construction work at the beach in Dubai shows the country’s effort to diversify its economy as it weans itself off dwindling crude oil reserves. Although the country has recently started to look for other sources of revenue, about 30 percent of its GDP is still based on oil and gas output. (Photo: Reuters)
How Much Oil is Left?
6. Kuwait: Exhausted Oil Fields
Oil reserves: 97 billion barrels
With approximately 700 wells, the greater Al Burqan oil field is Kuwait's most productive petroleum reservoir and one of the largest oil and gas fields in the world. Kuwait holds about 10 percent of the world’s oil reserves, but its production is steadily declining after decades of exploitation. (Photo: Reuters)
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6. Kuwait: Exhausted Oil Fields
Oil reserves: 97 billion barrels
With approximately 700 wells, the greater Al Burqan oil field is Kuwait's most productive petroleum reservoir and one of the largest oil and gas fields in the world. Kuwait holds about 10 percent of the world’s oil reserves, but its production is steadily declining after decades of exploitation. (Photo: Reuters)
How Much Oil is Left?
7. Venezuela: Nationalization
Oil reserves: 80 billion barrels
Venezuelan oil workers take part in celebrations as the state-run oil company PDVSA takes control of oil fields in the Orinoco Belt. In so doing, the Venezuelan government will strip international oil companies of operational control over massive crude projects in the region, part of President Hugo Chavez's controversial nationalization policy. (Photo: Reuters)
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7. Venezuela: Nationalization
Oil reserves: 80 billion barrels
Venezuelan oil workers take part in celebrations as the state-run oil company PDVSA takes control of oil fields in the Orinoco Belt. In so doing, the Venezuelan government will strip international oil companies of operational control over massive crude projects in the region, part of President Hugo Chavez's controversial nationalization policy. (Photo: Reuters)
How Much Oil is Left?
8. Russia: Fueling Europe
Oil reserves: 60 billion barrels
A worker operates a bulldozer at the Vankor oil field in eastern Siberia. Since early 2006, Europe has been more and more concerned about the stability of oil and gas exports from Russia. Approximately a third of Western Europe's oil supplies come from Russia via the Black Sea. (Photo: Reuters)
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8. Russia: Fueling Europe
Oil reserves: 60 billion barrels
A worker operates a bulldozer at the Vankor oil field in eastern Siberia. Since early 2006, Europe has been more and more concerned about the stability of oil and gas exports from Russia. Approximately a third of Western Europe's oil supplies come from Russia via the Black Sea. (Photo: Reuters)
How Much Oil is Left?
9. Libya: Unexplored Reserves
Oil reserves: 39 billion barrels
Libya's leader Muammar Gaddafi was once shunned as an international terrorist, but has managed to stay in power. The country aims to boost oil production and has high potential for further discoveries. Investments are necessary, but the government continues to constrain the private sector. (Photo: Reuters)
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9. Libya: Unexplored Reserves
Oil reserves: 39 billion barrels
Libya's leader Muammar Gaddafi was once shunned as an international terrorist, but has managed to stay in power. The country aims to boost oil production and has high potential for further discoveries. Investments are necessary, but the government continues to constrain the private sector. (Photo: Reuters)
How Much Oil is Left?
10. Nigeria: Illegal Tapping
Oil reserves: 36 billion barrels
A man rinses soot from his face at the scene of a gas pipeline explosion. Hundreds of people were burned alive when fuel from the pipeline exploded. Thieves had punctured the underground pipeline. Despite the country’s large oil reserves, most of Nigeria’s population suffers from fuel shortages. (Photo: Reuters)
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10. Nigeria: Illegal Tapping
Oil reserves: 36 billion barrels
A man rinses soot from his face at the scene of a gas pipeline explosion. Hundreds of people were burned alive when fuel from the pipeline exploded. Thieves had punctured the underground pipeline. Despite the country’s large oil reserves, most of Nigeria’s population suffers from fuel shortages. (Photo: Reuters)
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