The Motley Fool Discussion Boards

Previous Page

Real-Money Stock Picks / Messed-Up Expectations Portfolio


Subject:  Re: Buying Ford Date:  2/25/2011  6:07 PM
Author:  RHinCT Number:  246 of 1287

Libya is a huge oil producer and turmoil there, especially with people evacuating, is bound to increase the price because of the possibility (or reality) of shutting down.

I'd heard on the news that Libya really wasn't that big a producer, but very important to Europe and particularly so because the oil is the right type for gasoline. I just decided to go looking for production numbers by country. The data at the first couple of sites I checked is a few years old but easy to read. It puts Libya in 18th place, just behind Angola and ahead of the UK,with just under 2% of world production.

But the most interesting thing I saw was off topic. The top 3 producers - Russia, Saudi Arabia and the United States - were relatively close to each other, and fourth place - Iran - produced less than half as much as third place. I confess I had no idea the USA was about neck-and-neck with the others at the top with close to 11% of the production.
Copyright 1996-2022 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us