The estimated proven world oil reserves in 2013 were 1526 billion barrels. The world annual rate of use was 32.6 billion barrels. How long will these reserves last if this rate of use continues? (The rate of use is actually likely to increase.)
To calculate how long the estimated proven world oil reserves will last at the current rate of use, you need to divide the total reserves by the annual rate of use.
First, let's convert the units to the same measurement. The estimated proven world oil reserves in 2013 were 1526 billion barrels, and the world annual rate of use was 32.6 billion barrels.
So, dividing the estimated proven world oil reserves by the annual rate of use will give us the duration in years:
1526 billion barrels / 32.6 billion barrels/year = 46.8 years
Therefore, if the rate of oil consumption remains constant at 32.6 billion barrels per year, the estimated proven world oil reserves will last approximately 46.8 years.
However, it's important to note that the rate of oil consumption is likely to increase in the future. So, this estimation does not take into account future changes in oil demand or the discovery of new oil reserves.
To calculate how long the estimated proven world oil reserves will last at a rate of 32.6 billion barrels per year, you can divide the total reserves by the annual rate of use.
1526 billion barrels / 32.6 billion barrels per year = 46.8 years
Therefore, if the rate of use continues at 32.6 billion barrels per year, the estimated proven world oil reserves would last approximately 46.8 years.
(32.6 bil bar/yr) x ?yrs = 1526 bil
Solve for ? yrs in billions of barrels.