Mexico 3rd largest supply of Oil in the world?

[R_P_A_S]

While I was in Mexico on a 8 hour bus ride, the driver was listening to a Mexican News radio station in which they were talking about how Mexico has the 3rd largest supply of Oil in the world. Is this true? If so then what the fuck are we doing with it?

[R_P_A_S]

also I may point out my brother told me that Mexico will run out of Oil in ten years. I would like to know about Oil reserves and such information whats good to read?

[RebelDog]

From http://www.infoplease.com/ipa/A0872964.html

Rank Country Proved reserves
(billion barrels)
1. Saudi Arabia 264.3
2. Canada 178.8
3. Iran 132.5
4. Iraq 115.0
5. Kuwait 101.5
6. United Arab Emirates 97.8
7. Venezuela 79.7
8. Russia 60.0
9. Libya 39.1
10. Nigeria 35.9
11. United States 21.4
12. China 18.3
13. Qatar 15.2
14. Mexico 12.9
15. Algeria 11.4
16. Brazil 11.2
17. Kazakhstan 9.0
18. Norway 7.7
19. Azerbaijan 7.0
20. India 5.8

Top 20 countries 90.2
Rest of world 68.1
World total 1,292.5


I'm actually suprised to see Mexico in the top 20. Whilst the positioning of the chart is likely acurate, the actual amounts given will be a very rough estimate. Nobody has any totally reliable figures on world oil reserves.

[Sadena Meti]

Mexico Info
-------------
Oil - production:
3.42 million bbl/day (2005 est.)
Oil - consumption:
1.752 million bbl/day (2004 est.)
Oil - exports:
1.863 million bbl/day (2004)
Oil - imports:
205,000 bbl/day (2004)
Oil - proved reserves:
33.31 billion bbl (2005 est.)


So, assuming that production remains constant until the moment of exhaustion (which is impossible but makes the calculations easier), Mexico will run out of oil in 26.7 years.


Proven Reserves
(Top 22 because 1 is World and 21 is the EU)

1 World 1,349,000,000,000 1 January 2002 est.
2 Saudi Arabia 262,700,000,000 2005 est.
3 Canada 178,900,000,000 2004 est.
4 Iran 133,300,000,000 2005 est.
5 Iraq 112,500,000,000 2005 est.
6 United Arab Emirates 97,800,000,000 2005 est.
7 Kuwait 96,500,000,000 2005 est.
8 Venezuela 75,590,000,000 2005 est.
9 Russia 69,000,000,000 2003 est.
10 Libya 40,000,000,000 2005 est.
11 Nigeria 36,000,000,000 2005 est.
12 Mexico 33,310,000,000 2005 est.
13 Kazakhstan 26,000,000,000 1 January 2004
14 Angola 25,000,000,000 2005 est.
15 United States 22,450,000,000 1 January 2002
16 China 18,260,000,000 2004
17 Qatar 16,000,000,000 2005 est.
18 Brazil 15,120,000,000 2005 est.
19 Algeria 12,460,000,000 2005 est.
20 Norway 9,859,000,000 1 January 2002
21 European Union 7,294,000,000 1 January 2002
22 Oman 6,100,000,000 2005 est.


Interesting projection, again assuming that consumption and production remain constant until the moment of exhaustion, the world (1349 billion reserve, 80.1 million per day consumed), the world will run out of oil in 46.2 years.

Of course the real projections are more complicated, because consumption increases each year, production falls each year, and as the reserves dry out production will plummet to a trickle. But in rough terms, oil will stop being a viable source of energy in 35 years, but won't actually run out until much later.

(Source - CIA World Factbook 2006)

[Janus]

I think he meant that Mexico was the third largest supplier of oil to the United States.