Who Has the Oil Reserves?

This chart depicts a map of the world in which the size of each country is proportional to the percentage of the global oil reserves it contains. As evidenced by the chart, many of the world’s reserves are concentrated in regions characterized by political instability and government corruption.

An increasing amount of these global oil reserves are under the direct control of foreign governments through their national oil companies (NOCs). A study by PFC Energy last January estimated that 79% of global reserves were controlled by NOCs, a number that may have increased in recent months given the trend toward greater government control in Russia. Leaders of Iran, Russia, and Venezuela have all made clear their willingness to use their energy exports, and the revenues derived from those exports, to gain leverage around the world and thwart U.S. interests. Furthermore, if current trends projected by the International Energy Agency continue, the world will become increasingly dependent on just a few major oil-producing countries in the Middle East. Saudi Arabia, Iran, Iraq, Kuwait, and the UAE have by far the largest oil reserves in the world.

Senator Lugar has argued on several occasions that oil dependence reduces U.S. influence on the international stage. In the absence of revolutionary changes to energy policy, we are risking economic, military, and environmental disasters for our country that will constrain our living standards, undermine our foreign policy goals, and leave us highly vulnerable to the machinations of rogue states.

• Six national security threats of dependence on oil
• Senator Lugar’s proposal to diversify American energy sources and reduce oil dependence