Global oil production and consumption

– Most estimates of total recoverable oil worldwide since production began range from about 1.8 trillion to 2.4 trillion barrels. The U.S. Energy Information Administration’s estimate is about 3 trillion barrels. About 950 billion barrels have already been produced.

– The funds that oil companies allocate to research have decreased more than 50 percent since 1990. The membership of the American Association of Petroleum Geologists peaked in May 1986 at 44,757 members and is now less than 30,000 members.

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