Lesson 8 - Oil Flashcards
1
Q
What % of proven oil reserves are found in Saudi?
A
25%
2
Q
Which contentious oil reserves are found throughout North America?
A
Tar Sands/Oil Sands
3
Q
How long is it theorised that present day reserves will last?
A
40 years
4
Q
Why is the lifetime of oil reserves a debatable topic?
A
Lifetime was 40 years 30 years ago
5
Q
Who are the most dependent global oil importers?
A
Western Europe
Japan
6
Q
Which nation has the largest per capita oil consumption?
A
US
> 3 Tonnes
7
Q
What is the general global trend regarding oil consumption?
A
Richer states have higher net + per capita consumption
Exceptions of certain oil rich states
8
Q
What are the factors affecting the price of oil?
A
Global economic expansion
China
Attempts to reduce crude oil stocks
Politics + terrorism/sabotage
Analytics + forecasts
