Download
HTML Embed
HTML EMBED
Click to Copy

Latest Episodes

Download
HTML Embed
HTML EMBED
Click to Copy
This Is Uncomfortable
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Corner Office from Marketplace
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Globalist Quiz

GLOBALIST QUIZ: America’s percentage of global oil reserves

Stephan Richter Oct 26, 2010
Share Now on:
HTML EMBED:
COPY

TEXT OF INTERVIEW

STEVE CHIOTAKIS: Oil is the topic of today’s Marketplace Globalist Quiz. Something we do every so often to
test our knowledge of current events and public affairs. And we’re glad to bring in Stephan Richter from theglobalist.com.

Good morning Stefan.

STEPHAN RICHTER: Good morning. I take it you’re ready!

CHIOTAKIS: I am ready. Give it to me.

RICHTER: Alright so, what percentage of global oil reserves is located in the United States? Is it 20 percent, around 10 percent, around 8, or just 2 percent?

CHIOTAKIS: We have Alaska, so I think that helps the situation. So maybe it’s not 2 percent. Maybe it’s eight or ten — I’m going to guess 8 percent.

WRONG BUZZER

RICHTER: Eight percent is a good guess. It has nothing to do with the existing level of U.S. oil reserves, though. But, you know, we’re still a big oil producer that’s forgotten. We’re the third largest in the world and we do provide 8.5 percent of the world’s oil. And our domestic oil accounts for almost 40 percent of U.S. daily consumption but alas it’s not Alaska, alas it’s not eight percent.

CHIOTAKIS: Alright, so I’ll say the next answer that I had. Ten percent.

WRONG BUZZER

RICHTER: Ten percent is what the Europeans and Eur-Asia have. And by the way, China, China consumes 10 percent of oil, and the U.S. 20 percent. So I’ll rule out the 20 percent answer for you right here and now.

CHIOTAKIS: Let’s see — the process of elimination here would mean — 2 percent.

DING DING DING DING DING

RICHTER: Two percent. And that is of course quite scary if you look at all of our environmental policies and all the “drill baby drill” kind of things. We can drill any road to heaven or hell or anything in between. And we just have very few reserves so that would speak for having smarter energy policies so we don’t depend as a giant who consumes 20 percent of the world’s oil by just having 2 percent of its reserves. That’s a quite terrible mismatch for our longer term future.

CHIOTAKIS: Stephan Richter, thank you for your time this morning and for the education.

RICHTER: Alrighty.

If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air.  But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.

Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.

When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.