Global oil statistics

At the end of 2009, there were 1333.1 billion barrels of proved oil reserves (this number doesn't include Canadian oil sands) according to the BP's Statistical Review of World Energy.

Russia is currently the world's largest oil producer. In 2009, Russia produced in average 9.93 million barrels of oil per day for a total of 494.2 million tons, which is around 12% of world's total oil production.

According to the data from IEA China is currently the world's largest oil consumer. In 2009 China consumed 2.252 billion tons of oil equivalent, which is about 4% more than the U.S., which consumed 2.170 billion tons of oil equivalent. It is also expected that China’s oil demand will likely rise by more than 5% in 2010.

In 2009, China's oil consumption increased by 6.7 percent while US oil consumption declined by 4.9 percent (mostly because of recession).

According to the data from the US Energy Information Administration, approximately 4.1 billion barrels of oil are held in strategic reserves, of which 1.4 billion is government-controlled.

International Energy Agency (IEA) predicts that the global oil demand in 2010 would grow by 170,000 barrels a day to 86.5 million barrels, mostly because of developing countries which depend on oil to continue their economic growth.

Besides United States and China, the list of five largest oil consumers in the world also includes Japan, Russia and India.

Saudi Arabia is currently the world’s second largest crude oil producer behind Russia. It is estimated that Saudi Arabia currently produces around 8.5 million barrels of oil per day.

World crude oil demand grew an average of 1.76% per year from 1994 to 2006.

Transportation sector has the highest oil consumption rates, accounting to 55% of oil use worldwide, and for approximately 68.9% of the oil used in the United States.

Saudi Arabia's largest oil fields are now declining at a rate of around 8% per year. The average global rate of field decline is at about 4.5% per year.

In 2005, global oil production reached an all-time high of 73,720,000 barrels per day.

Oil had the largest price on June 30th, 2008 crossing over $143 a barrel.

Top five countries in oil reserves category are Saudi Arabia, Canada, Iran, Iraq, and United Arabian Emirates.

Fossil fuels vs renewable energy in United States

Fossil fuels are still dominant energy sources in United States, and their dominance doesn't look like being decently challenged by renewables in years to come. But this doesn't mean that everything looks negative for renewable energy sector in United States, on the contrary, the latest data shows that Americans used significantly more renewable energy resources in 2009 compared to previous years (especially wind energy).

According to the US Department of Energy Americans were in general using less energy in 2009 compared to previous years. There are two factors mainly responsible for this: recession and improved efficiency. Recession is connected with lower economic activity and thus decreased demand for energy, and higher efficiency appliances and vehicles were able to reduce energy demand even further.

Coal and petroleum are still heavily used in United States but recent data shows that United States used significantly less coal and petroleum in 2009 than in 2008. Wind energy was the most popular renewable energy source in 2009, and Americans were using significantly more wind power in 2009 compared to 2008.

Other renewable energy sources such as solar, geothermal, and hydropower also experienced increase in use though this increase is significantly smaller compared to wind energy.

The estimated U.S. energy use in 2009 was 94.6 quadrillion BTUs, down from 99.2 quadrillion BTUs in 2008, and domestic energy use experienced decline in all important sectors (residential, commercial, industrial and transportation).

The significant increase of totally installed US wind power capacity in 2009 was mostly due to the more than acceptable incentives, and technological advancement of wind power technologies. To put it in other words, in 2009, the wind power technology got better and the incentives remained relatively stable (despite the financial crisis).

This has resulted in less CO2 emissions compared to previous years because Americans were burning less fossil fuels. It will be very interesting to see whether this trend will continue once energy demand starts to grow again, or will coal and petroleum, once again, grow in popularity.

Why should renewable energy replace fossil fuels?

Renewable energy is touted by many energy experts as the best possible option to replace fossil fuels, and here are the reasons why.

Fossil fuels (oil, natural gas, and coal) are currently dominant sources of energy that have long tradition and powerful lobbies behind them. Though our industry and economy is still heavily dependent on fossil fuels there are several reasons why we should start reducing this dependence as soon as possible. Two the most important reasons are huge environmental damage fossil fuels do and the fact that fossil fuels are limited energy resources meaning that they will be eventually depleted.

Fossil fuels burning creates harmful greenhouse gas emissions (carbon dioxide emissions) that have significantly contributed to global warming and climate change, and the science warns us that if we continue this path we will very soon see irreversible changes in our climate that will mean the end of our current way of life. Possible climate change scenarios include more frequent extreme weather events, severe food shortages, flooding and droughts, and even new diseases so serious climate change is definitely something we could live without.

We must also accept the fact that eventually world will run out of oil, natural gas and coal. This will not happen in the next few decades but is likely to happen in lets say 100 years from now. When this happens we must have another option ready and well prepared to jump in and replace the fossil fuels, and renewable energy is definitely the best available option we have at our disposal.

Why is renewable energy the best option to replace fossil fuels? First of all renewable energy doesn't harm our environment like fossil fuels do, and generally speaking compared to fossil fuels renewable energy sources are far more environmentally friendly.

Renewable energy sources cannot be depleted like fossil fuels can, sun will continue to shine and wind will continue to blow while oil, natural gas and coal will likely disappear in relatively near future.

There are also so many renewable energy resources to choose from: in some places solar power may be the best renewable energy option, in other wind, in some hydropower, geothermal energy, biomass, tidal power. All these renewable energy options are available, and it's up to each country to choose what is best for their residents.

Renewable energy technologies are still far from being fully developed meaning that fossil fuels still have edge in costs when compared to renewable energy sources. But the good news is that renewable energy sources are becoming more and more cost-competitive with fossil fuels (for instance the prices of wind turbines and solar panels have significantly decreased in the last few years), and this is definitely a good sign for the future of renewable energy.

The media should do much more to promote renewable energy by presenting people all the benefits these sources have over fossil fuels, but not only by showing the advantages of renewable energy sources but also by showing their drawbacks, and the possible solutions to fix these drawbacks.

The first thing each and every one of us must learn is that the "perfect energy source" doesn't exist, and thus we need to choose the best available option we have at our disposal. Renewable energy is not perfect and certainly has its flaws but it's still way better compared to fossil fuels. At least in my book, that is.