The proved reserves break down of raw data is North America 5.5% (73.3 Thousand Million Barrels), South and Central America 14.9% (198.9 Thousand Million Barrels), Europe and Eurasia 10.3% (136.9 Thousand Million Barrels), Middle East 56.6% (754.2 Thousand Million Barrels), Africa 9.6% (127.7 Thousand Million Barrels), and Asia/ Pacific 3.2% (42.2 Thousand Million Barrels). This 2009 data prior to the Bakken Shale upgrading from 2 thousand million to 18-24 thousand million barrels, due to new drilling techniques.
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The proved reserves break down of raw data is North America 5.5% (73.3 Thousand Million Barrels), South and Central America 14.9% (198.9 Thousand Million Barrels), Europe and Eurasia 10.3% (136.9 Thousand Million Barrels), Middle East 56.6% (754.2 Thousand Million Barrels), Africa 9.6% (127.7 Thousand Million Barrels), and Asia/ Pacific 3.2% (42.2 Thousand Million Barrels). This 2009 data prior to the Bakken Shale upgrading from 2 thousand million to 18-24 thousand million barrels, due to new drilling techniques.

Source: Guardian

This is a very interesting article in the Huston Chronicle about growth in the US oil industry. However the surprising thing to me is that the amount of US oil production trended down under George W. Bush and is trending up under Barrack Obama. I live near Eagle Ford and I have seen more drilling in the last couple years. As I have graphed in my previous post these numbers are still too small to put a big dent in price.
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This is a very interesting article in the Huston Chronicle about growth in the US oil industry. However the surprising thing to me is that the amount of US oil production trended down under George W. Bush and is trending up under Barrack Obama. I live near Eagle Ford and I have seen more drilling in the last couple years. As I have graphed in my previous post these numbers are still too small to put a big dent in price.

Source: chron.com