Table 7 

 NORTH AMERICA'S DECLINING OIL SUPPLY 



UNITED STATES 



NORTH AMERICA 



Year 



1946 

 1951 

 1955 

 1959 

 1960 

 1961 

 1962 

 1963 

 1964 

 1965 

 1966 

 1967' 



Proven Reserves 

 (000,000 bbls.) 



20,873.6 

 27,468.0 

 30,012.2 

 31,719.3 

 31,613.2 

 31,758.5 

 31,389.2 

 30,970.0 

 30,990.5 

 31,352.4 

 31,452.1 

 31,443.0 



Production 

 (000,000 bbls.) 



1,726.3 

 2,214.3 

 2,419.3 

 2,483.3 

 2,471.5 

 2,512.3 

 2,550.2 

 2,593.3 

 2,644.2 

 2,686.2 

 2,864.2 

 3,214.6 



Reserves- 

 Life Index 



12.1 

 12.4 

 12.0 

 12.4 

 12.8 

 12.3 

 12.3 

 11.9 

 11.7 

 11.7 

 10.9 

 9.8 



CANADA 



Year 



1946 

 1951 

 1955 

 1959 

 1960 

 1961 

 1962 

 1963 

 1964 

 1965 

 1966 

 1967* 



Proven Reserves 

 (000,000 bbls.) 



NA 

 1,376.6 

 2,509.5 

 3,497.1 

 3,678.5 

 4,173.6 

 4,480.7 

 4,481 .5 

 6,177.7 

 6,711.2 

 7,791.8 

 8,200.0 



Production 

 (000,000 bbls.) 



NA 

 47.3 

 127.5 

 183.7 

 191.1 

 221.0 

 244.9 

 256.5 

 270.8 

 291.6 

 316.0 

 341.8 



Reserves- 

 Life Index 



NA 

 29.1 

 19.9 

 19.0 

 19.2 

 18.9 

 17.9 

 19.0 

 22.7 

 23.0 

 24.6 

 23.7 



Source: Oilweek, Feb. 19, 

 Preliminary estimates. 



1968 



tion of the continents, slightly above sea level, and 

 the great depths of the ocean basins. The bounda- 

 ries between these two regions comprise the 

 continental margin of the world. The volume of 

 water in the oceans slightly exceeds the capacity 

 of the ocean basins, with the result that the edges 

 of the continents are sUghtly under water (Figure 

 2). 



The gently sloping sea floor adjacent to the 

 shoreline is known topographically as the "conti- 

 nental shelf," and its outer edge is normally 

 marked by an increase in slope, known as the 

 "shelf edge." By convention the edge the shelf is 



Proven Reserves 

 (000,000 bbls.) 



20,873.6 



20,844.6 

 32,521.7 

 35,216.4 

 35,291.7 

 35,932.1 

 35,869.9 

 35,861.5 

 37,168.2 

 38,063.6 

 39,243.9 

 39,643.0 



Production 

 (000,000 bbls.) 



1,726.3 

 2,261.6 

 2,546.8 

 2,667.0 

 2,662.6 

 2,733.3 

 2,795.1 

 2,849.8 

 2,915.0 

 2,977.8 

 3,180.2 

 3,556.4 



Reserves- 

 Life Index 



12.1 

 12.8 

 12.8 

 13.0 

 13.2 

 13.2 

 12.8 

 12.6 

 12.7 

 12.2 

 12.3 

 11.1 



considered to approximate a water depth of about 

 100 fathoms or 200 meters (since one or the other 

 of these isobaths is normally plotted on most 

 bathymetric charts), but in fact it ranges from less 

 than this depth to much more. The steeper surface 

 beyond the shelf is the "continental slope." The 

 more gentle surface beyond the slope is the 

 "continental rise," which extends down to the 

 average depth of the ocean basins at about 2,500 

 fathoms or 5,000 meters. The shelf, rise, and slope 

 together make up the idealized "continental mar- 

 gin." 



However, many continental margins vary signi- 

 ficantly from the idealized configuration just 

 described (Figure 3). Each of these many varia- 

 tions is the result of a different geological history, 

 and each area poses distinct problems for the 

 exploration and development of its oil and gas 

 resources, as well as for any reasonable estimate of 

 the speculative reserves it might contain. 



Approximately two bilhon barrels of petroleum 

 and five and one-half trillion cubic feet of natural 

 gas had already been produced from the U.S. 

 continental shelves by early 1966, and another 

 three and one-half billion barrels and 22-3/4 

 trilhon cubic feet had been proved by drilUng.' 

 The knovm energy resources beneath our conti- 

 nental shelves at that time thus amounted to 



T. W. Nelson and C. A. Burk, "Petroleum Resources 

 of the Continental Margins of the United States, " in 

 Exploiting the Ocean (Washington, D.C.: Marine Technol- 

 ogy Society, 1966). 



VII-197 



