IS THE AGE OF OIL OVER?

Did you know that Saudi Aramco, the Saudi Arabian national petroleum and natural gas company, produces 12 million barrels of oil each day? That’s the equivalent of 1.9 billion litres produced every day! Yes, that’s an “illion” with a “b”.

If you think that’s a lot of oil, you’ll be floored to find out that the world’s top oil producers collectively pump around 54.1 million barrels each and every day. Despite these astronomical figures, are we witnessing the end of the age of oil?

This infographic tells us the full story of oil as it stands today. In it you’ll see that the world’s largest oil producing nations certainly have plenty of reserves still available. However, what you’ll also see is that world’s oil consumption is not as strong as it once was and that the use of cleaner sources of energy such as renewables are on the rise.

Realistically though, almost 85% of our energy sources come from oil, coal and natural gas so we are still far from shifting away from fossil fuels. Indeed, Australia plays a big part in contributing to the world’s energy needs through its abundant minerals and resources such as coal, uranium, oil and gas.

If you’re in the business of mining, Resolute Equipment can help with all your mining and earthmoving equipment needs. We have an extensive range of new and used machines and parts attachments for sale.

Contact Resolute Equipment today or browse our inventory.

Oil and Gas Infographic.