How to reported oil? Here accumulated crude oil revenues between 1920 and 2006?
This is the cumulative curve for oil gains excluding tax in constant 2004 dollars.
- Oil companies' revenues are constantly increasing: it is linked to the increase in demand
- Oil brought in nearly $ 41 billion in 000 between 2004 and 1920
- Oil brought in nearly $ 30 billion in 000 between 2004 and 1980
- This money is largely undervalued for the same reasons as cited in 3) (see *)
- This sum, minus recall, is to compare the cost of 5500 billion warming Stern Review thus seem ridiculous
- A comparison to the evolution of world GDP would be useful (see *)
- Oil is indeed the spearhead of capitalism
* No tax or derivative product is taken into account on this curve, let alone the wealth (in the sense of GDP) that these barrels of oil have allowed to create.
It would be very risky and daring to embark on a creative correction calculation of oil wealth following the criterion of GDP.
Indeed; the data are widely variable taking into account the evolution over time (an oil dollar currently creates more GDP than 30 years ago) and the global nature of these data (geographic and industrial diversity).
Furthermore, it is very difficult to estimate the world GDP before 1950 (help in this regard would be welcome).
These pages have their origin on the forum of discussing : learn more and offer questions / answers about energy.
- The article and the complete method of calculation
- Discuss the method on forums
- Oil in relation to purchasing power (article in creation)
- Retail in oil earnings since 2002