I originally posted this story as one of several stories 'cause I thought it had simply to do with Saudi Arabia. In fact, it was a story on global reserves.
What I find amazing, is that very few folks in America will even learn that the US now surpasses Saudi Arabia in crude oil and liquid petroleum:
Saudi Arabia's reserves grow, from Platts, data points:
- due to the kingdom lowering tax rates for state producer Saudi Aramco
- recoverable oil resources grew by 73 billion bbls this year
- the new number: 276 billion bbls in reserves
- Saudi re-claims the global top spot for oil resources
- tax rate for Saudi Aramco cut to 50% from 85% as part of moves to attract private investors ahead of the planned IPO in 2018
- only other countries to increase their reserves last year were Kazakhstan and the US
- US: the increase was 13 billion bbls; new total: 263 billion bbls (in same ballpark as Saudi Arabia)
- if NGLs were included in the total, the US would surpass Saudi Arabia by 50 billion bbls
- globally: world's total recoverable resources have rise 29 billion bbls since 2016; total stands at 2.2 trillion bbls now; or 73x the current annual production rate
- as much as 40% of the recoverable oil requires oil prices higher than $80/bbl
Memo to self: remember to send note to Jane Nielson.
Melancholy Vs Depression
This was the BeeGee's first #1 single.
The year I met the love of my life.