The countries with the largest oil reserves in the world. European influence

Oil is a natural resource formed by the decay of organic matter over millions of years and, like many other natural resources, it can only be extracted from reserves where it already exists. The only difference between oil and any other natural resource is that oil is truly the lifeblood of the global economy.

The world derives over a third of its total energy production from oil, far more than any other source; and, as Visual Capitalist's Anshool Deshmukh explains in detail, as a result, countries that control the world's oil reserves often have disproportionate geopolitical and economic power.

According to the BP S tatistical Review of World Energy 2020, 14 countries make up 93.5% of proven oil reserves globally. The countries on this list span five continents and control 25.2 billion barrels of oil to 304 billion barrels of oil.

None of the 14 countries with the largest reserves is European, despite deposits from the North Sea. This is even more indicative of the uselessness of the EU's energy policies, they are useless and will only leave more space on the one hand for the national companies of the producing countries, such as Gazprom and Aramco, on the other hand it will only give a significant industrial competitive advantage to the energy producing countries. .

We will pay for all these errors, indeed we are starting to pay for them already now.

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The article The countries with the largest oil reserves in the world. European influence comes from .

This is a machine translation of a post published on Scenari Economici at the URL on Fri, 11 Jun 2021 08:07:29 +0000.