Here’s where the oil is. Wired has created an excellent Google Map showing the world’s oil reserves. <link>

“World Oil Reserves by country as of Jan. 1, 2007, with info about 10 of the world’s largest oil fields. All figures are in billions of barrels. A barrel contains 42 gallons.”

Here’s who discovered it. 

1908: A British company strikes oil in Persia (now Iran). It’s the first big petroleum find in the Middle East, and it sets off a wave of exploration, extraction and exploitation that will change the region’s — and the world’s — history.”

Wired again. <link>

And here’s where some of it goes. 

16 million gallons of oil were consumed to make plastic water bottles. From a relevant Brita water advertisement.

Finally, the CEO of Shell says the record price of oil isn’t due to shortages.

“Oil prices at a record high above $135 a barrel are rising due to market sentiment rather than a shortage of supply, Royal Dutch Shell Plc’s chief executive.

“What we say and what we see is there are no physical shortages,” Shell’s Jeroen van der Veer told Reuters television. He runs the world’s second-largest fully publicly traded oil firm by market value… There are no tankers waiting in the Middle East, there are no cars waiting at gasoline stations because they are out of stock. This has to do with psychology in the markets and you cannot forecast psychology”.

Reuters story <link>


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