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The AAPG/Datapages Combined Publications Database
Crude-oil reserves show exploration people the fruits of their efforts. Since Drake's well in 1859, we periodically have witnessed over-production or we have worried over early depletion. Present world reserves are more than ample to care for our expanding economy and this condition will probably continue for years. Reserve estimates for the United States and Canada are now being ably handled by Frederic H. Lahee's A.P.I. Committee and by the Canadian Petroleum Association. No group performs a similar service for the rest of the world. To initiate a move in this direction, an estimate of crude reserves by countries is included. World reserves as of the first of 1954 are estimated at 162 billion barrels which is a 47-billion-barrel increase over figures published by World il, for the end of 1952. World reserves slowly by steadily increased from 1900 to the middle of 1920's. Since that time, reserves have increased at an ever-growing rate. Western hemisphere reserves as of January 1, 1954, are estimated at 45 billion barrels, with those for the Eastern hemisphere 117 billion barrels. Reserves for the Eastern hemisphere passed the Western hemisphere in 1946. A plea is made that the A.A.P.G. group handling the annual review of world developments undertake the compilation by countries of liquid hydrocarbon reserves.
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