Looming

15 February 2016

USA oil-crisis may revert

By: Karsten Riise

By opening new oilfield, the USA has 'kicked the can down the road' when it comes to satisfying its oil-thirst. But the USA may have to ”come back” to the Middle East within just a decade - for more oil.


The oil-figures (2014):

USA proven reserves

48.5 billion barrels

USA = 2.9% of world reserves ~ Libya


USA production 2014:
11,644 thousand barrels/day = 12.3% of world production

=> 4.25 billion barrels/year

USA  can theoretically continue only 11 years more

Proven reserves are sometimes adjusted up, but not by nearly 4 billion barrels every year.

In practice, theoretical reserves cannot be recovered fully – USA runs 200 km/ht against the wall.

What happens as you deplete resources?

Costs will go up exponentially !

Geostrategically, the USA will HAVE to ”come back” to the Middle East for more oil.

Karsten Riise
Partner & Editor