Oil consumption by the numbers « Terrain Magazine, Summer 2003

Oil consumption by the numbers

By Josh Wein

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• Average US daily petroleum consumption for 2002: 19.636 million barrels (1 barrel = 42 US gallons)
• Average 2002 daily petroleum consumption for France, Germany, Greece, Italy, Spain, Sweden, Switzerland, the UK and 14 other European countries, combined: 15.083 million barrels
• Proven world crude oil reserves as of December, 2001: 1.074 trillion barrels
• Percentage of proven crude oil reserves located in OPEC member countries: 78
• Number of years OPEC estimates its oil reserves to last at the current rate of consumption: 80
• Number of discovered oil fields in Iraq: 73
• Number of producing oil fields in Iraq: 24
• Rank of Iraq behind Saudi Arabia among world’s largest oil proven reserves: 2
• Percentage of US oil consumption that is motor gasoline: 45
• Maximum one-time deduction for businesses buying “light trucks” (a category including Hummer 2, the Cadillac Escalade, and Mercedes M Class SUV): $24,000
• Maximum one-time deduction for individuals or businesses buying the 2003 Honda Civic Hybrid: $2,000
• Combined miles per gallon for the 2003 Cadillac Escalade: 15
• Combined miles per gallon for the 2003 Honda Civic Hybrid: 51

Published in Terrain Magazine, Summer 2003

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Oil consumption by the numbers

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