The data of oil & Natural Gas proved are from CIA - The World Factbook of 2005.
The really fact is there is so much of Oil & Natural gas proved reserves in those countries listed above and there is no sign of short of supply, there maybe have distribution of supply problem that cause the price ram up. After all, the price of crude is cause by demand and supply factor.
The really fact is there is so much of Oil & Natural gas proved reserves in those countries listed above and there is no sign of short of supply, there maybe have distribution of supply problem that cause the price ram up. After all, the price of crude is cause by demand and supply factor.
Expert said those proved reserves data can last for more than a century. The Price of crude and Natural gas are show instant in market because it will not alway show at high price.
3 comments:
thanks for all the valuable information. helped a lot.
Seeing that list makes me wonder, why in the world oil price is increasing? Like what you've mentioned, the amount of oil supply could last for centuries. Is it because of the weakness of the US dollar’s exchange value? Or the liquidity that the Federal Reserve is pumping out? I guess it is important to discuss this matter further to eliminate certain speculations.
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Great information, i found this interesting because im in the industry and i supply LPG gas and Kexin gas geysers in Cape town. We have to use our resources carefully i agree.
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