How much oil is left on earth? Outlook in research and demand

Oil is an energy source that all countries need it, how much oil is left on earth? Is this energy source endless?

This question will be very interesting for scientists because if the world oil reserves have been exhausted.

Therefore it will be difficult to meet the need for energy sources and this will be a big problem in the history of modern life.

One of the leading economists Jerman Gref gave a statement that later became a headline in the mass media.

He mentioned that Russia would only be able to supply until around 2028 – 2032, according to him Russia’s oil reserves would only last up to 12 years.

This opinion has sparked controversy, and several other experts have refuted Gref’s statement.

And gave a different opinion, that oil reserves are still until 2044.

Is it true that the opinion of Gref, well we will try to explore information related to how much oil left in the earth?

How much oil is left on earth? Outlook in research and demand

Trading forex, crypto and CFD with TenkoFX

Regulated broker by the International Financial Services Commission (IFSC) of Belize.

Open an account or try Demo account.

Oil is a non-renewable energy

How much oil is left on earth? Outlook in research and demand

#What is Crude Oil Mean?

Most people believe the origin of petroleum is from fossils.

Almost every day various mass media mention this.

This theory was put forward by Mikhailo V. Lomonosov, a great Russian scholar.

In 1757 put forward the hypothesis that petroleum comes from the remains of living things, crude oil with a very slow process of formation.

Because it came from the remains of plants and animals that had died, over millions of years buried under rocks.

Subjected to pressures and very high temperatures, then turn it into crude oil.

Because of this theory, many experts have a conclusion that oil is a non-renewable energy source.

So Does the question arise about how much oil is left on earth?

And trying to answer that question then different opinions emerged, some said that oil or some people said “black gold” would be available for up to 44 years.

Another opinion said that oil would be enough for the next 70 years.

Another hypothesis

Regarding question how much oil is left on earth?

But over time, another hypothesis emerged that contradicted Lomosonov’s hypothesis.

Alexander von Humboldt, and the French thermodynamic chemist Louis Joseph Gay-Lussac.

Put forward a hypothesis based on his research which states that petroleum is a primordial material that radiates from very deep places.

This has nothing to do with biological matter from the surface of the earth.

Then In the nineteenth century, Russian chemist Dmitri Mendeleev also tested and rejected Lomonosov’s hypothesis.

In his hypothesis, Mendeleev stated that petroleum is a primordial material that comes out from deep depths.

Mendeleev hypothesized the existence of a geological structure which he called “deep faults” where petroleum passed from deep.

The abiotic process to produce petroleum is called Fischer-Tropsch, a chemical reaction that converts a mixture of carbon monoxide and hydrogen into liquid hydrocarbons.

Petroleum is a renewable energy

how much oil left

#List of oil and gas companies in Malaysia

How much oil is left on earth?

This certainly contradicts the first theory which states that the earth’s oil is not renewable energy.

This opinion that states petroleum is renewable energy, revealed from research in one of the oil fields on Eugene Island in the Gulf of Mexico, about 80 miles off the coast of Louisiana, USA.

Discovered in 1973 The oil field began to produce around 15,000 barrels per day.

But in 1989, the flow of oil fell to 4,000 barrels per day.

But without any logical reason, its production suddenly increased to 13,000 barrels per day.

Experts estimate reserves skyrocketed from 60 to 400 million barrels.

Then the researchers used 3D seismic imaging.

From the research, they found that there was a “deep fault“.

Where oil has flowed from depths that were not previously known.

Then migrate up through the rocks and fill the existing supply.

The results of the study concluded that the oil that is now being produced on Eugene Island shows the difference in geological age of the oil produced there before 1989.

Researchers suspect that it is new crude oil, emerging from a different source, deep in the deep rock.

Scientists and geologists from major oil companies have seen the evidence and acknowledge it.

That the Eugene Island oil fields are replenishing themselves.

Oil sources from depth on Eugene Island strongly support the theory of Thomas Gold written in his book The Deep Hot Biosphere.

According to Thomas Gold, petroleum is a renewable primordial flow that is continually produced by the earth under extraordinary conditions of heat and pressure.

When this substance migrates to the surface, it is invaded by bacteria.

So petroleum looks like it has organic origins from the time of the dinosaurs.

Scientist research create petroleum

A study at the University of Minnesota by Janice Frias revealed how proteins can change the shape of fatty acids into ketones using bacteria.

These ketones can be tricky into making hydrocarbon fuels.

Meanwhile, Aditya Bhan and Lanny Schmidt, professor of chemical engineering at the College of Science and Engineering.

They are turning ketones into diesel fuels using the catalyst technology they developed.

By using bacteria, sunlight, and carbon dioxide, ketones can be processed into hydrocarbon fuels.

They use Synechococcus, a bacterium that repairs carbon dioxide in sunlight and converts CO2 into sugar.

Next, they feed sugar to Shewanella, the bacteria that produce hydrocarbons.

So, this technology converts CO2, a greenhouse gas produced from burning fossil fuels, into hydrocarbons.

Hydrocarbons themselves consist of carbon and hydrogen.

How much oil reserves left in the world

how much oil left

#Why oil prices rising and drop? General analyzing

How much oil is left on earth?

The need for oil is always increasing from year to year, the growth of the number of vehicles is faster in various countries causing an increase in demand for oil.

The countries that have the highest oil demand are the United States with 20%, then China 13% and third India by 5%.

According to a report from BP, in 2020 there will still be a growing need for oil, especially in developing countries.

Although several countries have developed renewable energy, for example by developing electric vehicles, solar cells, and utilizing wind.

But that is not enough to reduce demand for oil, even according to BP the demand will still rise until 2030.

how much oil reserve left

Effect of oil on the weather

The growth of the use of fuel oil as an energy source is suspected to be one of the causes of climate change.

The heat generated from the disposal of fuel oil causes the air to be affected.

So this makes scientists concerned about the condition of global warming can damage the life of the universe.

So a new idea emerged in hopes of ensuring the effect of fuel oil on the weather.

Recently in developed countries like America and China have developed electric vehicles, this can also reduce air pollution.

How much oil reserves left The country with the world’s largest oil reserves

According to data from BP, the countries that have the largest contribution to oil supplies are the United States and countries that are members of OPEC.

Venezuela

This country is in South America, this country has oil reserves of about 301 billion barrels.

Venezuela also plays a role in world oil exports, recorded Venezuela contributes about 21.5% of oil.

The form of Venezuela’s oil reserves is in the form of oil sands.

Venezuelan oil sand has a texture that is not as thick as Canadian oil sand, so it can be extracted using conventional equipment.

This certainly provides considerable benefits for Venezuela, especially in terms of capital requirements and extraction fees.

Saudi Arabia

In the past, Saudi Arabia became the biggest oil producer but now its position has shifted and its replacement is Venezuela.

Because the amount of Saudi Arabian oil reserves is still the difference between Venezuelan production, which is about 266,500 billion barrels.

But once Saudi Arabia is still the world’s largest oil-exporting country.

And according to geologists, it could be that Saudi Arabia surpassed Venezuela when conducting in-depth exploration.

The US Geological Survey estimates that there are more than 100,000 million barrels beneath the Saudi Arabian desert.

Canada

The country in North America has large oil reserves.

Canada has 170 billion barrels of oil reserves.

According to CAPP Chairman, Tim McMillan, Canada’s total oil production will increase to 5.6 million barrels per day in 2035.

This is due to an increase in oil sands production to 4.2 million barrels per day from 2.65 million barrels in 2017.

Going forward, CAPP members expect this Canadian oil production increase to continue up to 33% to 5.12 million barrels per day by 2030.

Iran

This country is one of the Middle East countries that is currently at war with the US.

Iran has nearly 160,000 billion barrels of oil reserves, Iran is labeled as a country with very rich oil reserves.

This country has been producing oil since 1908, but Iranian oil will not run out in 100 years.

Even CNBC reporting amid the war with the US, they found oil reserves in the southwestern province of Khuzestan, with estimated crude oil reserves reaching 53 billion barrels.

Irak

This country has good relations with Iran, despite having experienced political situation instability.

But the presence of Iraq is still the country with the largest oil reserves in the world.

Iraq’s oil reserves are estimated at around 142 billion barrels, which means that it has a lot of potential in the energy sector.

Rusia

Russia is one of the countries of the Soviet Union, is one of the countries with the world’s largest oil reserves.

The country, led by Vladimir Putin, accounts for around 10.3% of total oil exports throughout the world.

Russia has oil reserves of 102 billion barrels.

Kuwait

The country located on the coast of the Persian Gulf, Middle East is also a country rich in oil.

The country has oil reserves of around 101.500 billion barrels.

Even though its territory is small, Kuwait can become one of the biggest oil exporters in the world.

The location of Kuwait’s oil reserves lies within the neutral zone of Saudi-Kuwait.

While more than 70 million barrels of Kuwaiti oil are in the Burgan field, the second-largest oil field in the world.

United Arab Emirates

This country is famous for the tallest building in the world Burj Khalifa.

The Arab emirates union is a federation of seven emirates that are rich in petroleum.

The seven emirates are Ajman, Abu Dhabi Dubai,  Ras al-Khaimah, Fujairah, and Umm al-Qaiwain,Sharjah .

The country’s total oil reserves are around 98 billion barrels, the UAE gets most of its oil from the Zakum field, which is 66 billion barrels.

This makes the Zakum field the third-largest oil field in the United Arab Emirates region.

Libya

Libya is a country in the Maghrib region of North Africa, bordering the Mediterranean Sea in the north, in the east with Egypt, in the southeast with Sudan, in the south of Chad and Niger, and Algeria and Tunisia in the west.

The country also has large oil reserves, with oil reserves of around 48,000 billion barrels.

But researchers say that the Libyan oil reserves are still greater, but due to lack of resource exploration, it still needs to build supporting facilities.

United States

America is a superpower if this is the largest oil importer, but now they have been able to meet the needs of domestic oil energy.

This is because of the progress of their technology by using the fracking method.

Fracking is a method for drilling wells by injecting high-pressure liquids into rock formations in the earth, where gas and oil are stored in large quantities.

So that the gas and oil flow more easily.

The US has oil reserves of around 39,000 billion barrels.

Final thought

#Why is gold mining bad for the environment?

This oil, which is nicknamed black gold, is a mysterious source of energy, is still being debated by scientists about the origin of oil.

How much oil is left on earth? Some believe that this comes from non-renewable fossils.

While others believe it originates from the depths of the earth which they call deep faults, with extremely hot temperatures that then rise to the surface.

Regardless of the origin of petroleum, the need for oil is still expected to increase from year to year, due to the growth of vehicles and industry.

On the other hand, oil also causes air pollution problems which may affect the weather and cleanliness of the air.

Thank you for reading, if you like with this article, please share to your social media.

Open an account or try Demo account.

Leave a Reply

Your email address will not be published. Required fields are marked *