World wide demand of crude oil, natural gas, coal and other essential natural resources While it is accepted worldwide the demand for crude oil the basic raw fuels is now at 89 million barrels of crude oil. Hence demand is always on the uptick. The demand can fall to 72 million barrels with fuel efficient cars and exploration near offshore areas. The demand thus far for these three resources would still be the same and for coal can be expressed similarly. For example India consumes 4 million barrels per day the last time I heard. At 4 million barrels the import bill would be ( 4 million*100US$* 365 days)= 146,000 million dollars. For India consumption of coal is 400 million tonnes. In kgs it would be 400 billion kgs. At 4 kgs for 1 Re it is 100 billion dollars. Natural gas would be similar to crude oil and 146 billion US$. World demand: Crude oil and Natural gas. 72/4=18* 150 billion dollars*2 Times= 5400 billion dollars. For Coal- 100 billion dollars*18=1800 billion dollars. Hence the total consumption of crude oil, natural gas and coal- fuels is 7,200 billion dollars per year.
Posted on: Sat, 14 Sep 2013 13:08:51 +0000
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