Very surprisingly to me, in the most recent source I could find, in 2016, Venezuela had the most Proven Oil Reserves at 303.8 billions of barrels of oil. Its annual oil production was 831 millions, thus it had an absolutely amazing 366 years of oil production in Oil Reserves. For world peace, it’s imperative for the US and all US allies in both Western Europe and Eastern Europe to have substantially better relations with Venezuela. US Oil & Gas Companies and Oil & Gas Companies around the world whose countries opposed Russia's invasion of Ukraine should help Venezuela get substantially more annual oil production and to export it to them.. And European countries should improve their relations with Venezuela who is holding most of the oil cards.
Saudi Arabia was second in the most Proven Oil Reserves at 258.6 billions of barrels of oil. Its annual oil production was 3,818 millions, thus it had 68 years of oil production in Reserve. Saudi Arabia is a strategic ally of the US and thus the US should encourage Saudi Arabia to step up their annual oil production in order to preserve world piece and to also prevent a global recession. And European countries should improve their relations with Saudi Arabia in order for most European countries to be able to get away from their dependence on oil and gas from the war-mongering Russia.
I am very pleasantly surprised that Canada was fourth in the Most Proven Oil Reserves at 170.3 billions of barrels of oil. Its annual oil production was 1,337 millions, thus it had an extremely high 127 years of oil production in Reserve. Being a member of NATO, Canada should do all that in can to step up its annual oil and gas production quickly and to export nearly all of this step up in oil and gas production to all of the Western European and Eastern European countries, which strongly opposed Russia’s brutal invasion of Ukraine, in order for them to not be dependent on Russia for their oil and gas requirements.
Very positively, the Proven Oil Reserves of #6 Kuwait was 101.5 billions of barrels of oil, of #7 the United Arab Emirates was 97.8 billions and of #14 Qatar was 25.2 billion billions. Since these three are very friendly to the US and to many of other NATO and EU countries, it is hopeful that all of these three countries will substantially step up their annual oil and gas production and export it to so many of the European countries which opposed Russia’s brutal invasion of Ukraine, and thus these European countries would be able to quickly move away from their dependence on the war-mongering Russia for their oil and gas requirements.
I am amazed that Russia is only 8th on this list of Proven Oil Reserves of only 80 billions of barrels of oil. However, their annual oil production was the highest at 3,851 millions, but then that means that they only had 21 years of oil production in Reserve. All countries opposing Russia’s brutal invasion of Ukraine should make sure that they do not lift a finger to help Russia to achieve their high levels of annual oil and gas production. And every country opposing Russia’s invasion of Ukraine should also do their best to dramatically minimize their oil and gas imports from Russia.
I was very unpleasantly surprised that the US was only 10th on this list on Proven Oil Reserves at only 47.1 billions of barrels of oil. But hopefully that #10 ranking has improved since 2016. The US did have the third highest annual oil production at 3,240 millions of barrels of oil. But on the very downside, that resulted in only 15 years of oil production in Oil Reserve. That is not where we want to be as a country for the safety of the country’s and the world’s people. And also it increases the odds that their eventually will be a deep recession in the US. Some people really screwed this up. There should be an all-out assault on increasing US oil and gas Proven Reserves and to do so quickly, as well as an all-out assault to substantially and quickly increase the annual US oil and gas production, and also as well as an all-out assault to very quickly and effectively address climate change, including providing tax credit incentives for EV’s and for renewables.
It was really sad to see Kazakhstan, which is effectively controlled by the Kremlin in Russia, high on this list at #12. So what is one of the main reasons that Kazakhstan’s Proven Oil Reserves are so high? Believe it or not, it’s because, with their exceptional oil and gas expertise, US Oil Giants Chevron and Exxon Mobil were both in the oil fields of Kazakhstan to make it happen.
Let me now focus on Proven Oil Reserves in Western Europe.
Norway ranked #19 in Proven Oil Reserves at 8.1 billions of barrels of oil, the United Kingdom ranked #31 at 2.5 billions of barrels of oil, and no other Western European country had more than 500 millions of barrels of oil.
