Oil. It’s the single-most important resource for transportation in the world, but its use goes well beyond that. Ok, but what it is, where it comes and how much oil we use every day ?
Oil came from the remains of the plants and animals that lived in the oceans millions of years ago. Over the years, their remains were covered by the layer of sand and silt. Heat and pressure from there layers turned the remains intro oil.
How much do we use every day?
As economic activity in the U.S., the world’s largest oil consumer, began accelerating in 2003, markets began feeling the full force of the world’s increased appetite for oil. Global consumption rose from 82.6 million barrels a day in 2004 to 85.6 million in 2007.
How much is left?
Based on data from BP at the end of 2009 the highest proved oil reserves including non-conventional oil deposits are in Saudi Arabia (18 per cent of global reserves), Canada (12 %, mostly oil sands), Venezuela (12 %, mostly tar sands), Iran (9 %), Iraq (8 %), Kuwait (7 %), UAE (7 %) and Russia (5 %).
(source: Carsort )