The global production of oil is driven by a host of complex factors, ranging from resource scarcity to a country’s access to the latest technological breakthroughs.
As these factors play out, the oil production landscape can dramatically change.
Countries can secure energy independence and global influence by rising up the rankings – or they can fall off the map completely, becoming a footnote on the global stage.
Animation: The Changing Oil Landscape
Today’s animation shows you how the oil landscape has changed, in terms of production by country, in less than a minute of time.
Data here comes from the BP Statistical Review of World Energy, 2018, which chronicles oil production by country all the way from 1965-2017.
The animation starts in 1965 during the height of the Cold War – a time when it was becoming incredibly evident that the ability to produce oil self-sufficiently would be a crucial advantage for any type of global superpower.
|Rank||Country||Oil production (bpd) in 1965|
|#1||🇺🇸 United States||9.0 million|
|#2||☭ USSR||4.9 million|
|#3||🇻🇪 Venezuela||3.5 million|
|#4||🇰🇼 Kuwait||2.4 million|
|#5||🇸🇦 Saudi Arabia||2.2 million|
|#6||🇮🇷 Iran||1.9 million|
|#7||🇮🇶 Iraq||1.3 million|
|#8||🇱🇾 Libya||1.2 million|
|#9||🇨🇦 Canada||0.9 million|
|#10||🇩🇿 Algeria||0.6 million|
During this stretch of time, the United States was the undeniable leader in oil production, producing an average of 9.0 million barrels per day.
Put another way, U.S. oil production nearly double that of the entire USSR, or four times as much as the largest Arab producer (Kuwait), making this period a heyday of U.S. energy dominance.
Modern Production Figures
According to the BP Statistical Review of World Energy 2018, here is how oil production has shaped up based on more recent data.
|Rank||Country||Oil production (bpd) in 2017|
|#1||🇺🇸 United States||13.1 million|
|#2||🇸🇦 Saudi Arabia||12.0 million|
|#3||🇷🇺 Russian Federation||11.3 million|
|#4||🇮🇷 Iran||5.0 million|
|#5||🇨🇦 Canada||4.8 million|
|#6||🇮🇶 Iraq||4.5 million|
|#7||🇦🇪 United Arab Emirates||3.9 million|
|#8||🇨🇳 China||3.8 million|
|#9||🇰🇼 Kuwait||3.0 million|
|#10||🇧🇷 Brazil||2.7 million|
As you can see, there are essentially three superpowers that produce over 10 million barrels of oil per day: United States (13.1 million), Saudi Arabia (12.0 million), and Russia (11.3 million).
Together, these three countries combine for 39.1% of global oil production, and about 24.9% of the world’s proven oil reserves.
After this group, there is a significant dropoff: Iran (5.0 million bpd), Canada (4.8 million bpd) and Iraq (4.5 million bpd) each have a 5% share of global production, while the U.A.E. and China are next on the list.
In total, the top 10 producers of crude oil combine for roughly 70% of the global total – meaning the world’s other 183 countries added together produce just 30% of the world’s total crude.
Mapped: Solar Power by Country in 2021
In 2020, solar power saw its largest-ever annual capacity expansion at 127 gigawatts. Here’s a snapshot of solar power capacity by country.
Mapped: Solar Power by Country in 2021
The world is adopting renewable energy at an unprecedented pace, and solar power is the energy source leading the way.
Despite a 4.5% fall in global energy demand in 2020, renewable energy technologies showed promising progress. While the growth in renewables was strong across the board, solar power led from the front with 127 gigawatts installed in 2020, its largest-ever annual capacity expansion.
The above infographic uses data from the International Renewable Energy Agency (IRENA) to map solar power capacity by country in 2021. This includes both solar photovoltaic (PV) and concentrated solar power capacity.
The Solar Power Leaderboard
From the Americas to Oceania, countries in virtually every continent (except Antarctica) added more solar to their mix last year. Here’s a snapshot of solar power capacity by country at the beginning of 2021:
|Country||Installed capacity, megawatts||Watts* per capita||% of world total|
|South Korea 🇰🇷||14,575||217||2.0%|
|United Kingdom 🇬🇧||13,563||200||1.9%|
|South Africa 🇿🇦||5,990||44||0.8%|
|United Arab Emirates 🇦🇪||2,539||185||0.4%|
|Czech Republic 🇨🇿||2,073||194||0.3%|
|El Salvador 🇸🇻||429||66||0.1%|
|Saudi Arabia 🇸🇦||409||12||0.1%|
|Dominican Republic 🇩🇴||370||34||0.1%|
|New Zealand 🇳🇿||142||29||0.02%|
|World total 🌎||713,970||83||100.0%|
*1 megawatt = 1,000,000 watts.
China is the undisputed leader in solar installations, with over 35% of global capacity. What’s more, the country is showing no signs of slowing down. It has the world’s largest wind and solar project in the pipeline, which could add another 400,000MW to its clean energy capacity.
Following China from afar is the U.S., which recently surpassed 100,000MW of solar power capacity after installing another 50,000MW in the first three months of 2021. Annual solar growth in the U.S. has averaged an impressive 42% over the last decade. Policies like the solar investment tax credit, which offers a 26% tax credit on residential and commercial solar systems, have helped propel the industry forward.
Although Australia hosts a fraction of China’s solar capacity, it tops the per capita rankings due to its relatively low population of 26 million people. The Australian continent receives the highest amount of solar radiation of any continent, and over 30% of Australian households now have rooftop solar PV systems.
China: The Solar Champion
In 2020, President Xi Jinping stated that China aims to be carbon neutral by 2060, and the country is taking steps to get there.
China is a leader in the solar industry, and it seems to have cracked the code for the entire solar supply chain. In 2019, Chinese firms produced 66% of the world’s polysilicon, the initial building block of silicon-based photovoltaic (PV) panels. Furthermore, more than three-quarters of solar cells came from China, along with 72% of the world’s PV panels.
With that said, it’s no surprise that 5 of the world’s 10 largest solar parks are in China, and it will likely continue to build more as it transitions to carbon neutrality.
What’s Driving the Rush for Solar Power?
The energy transition is a major factor in the rise of renewables, but solar’s growth is partly due to how cheap it has become over time. Solar energy costs have fallen exponentially over the last decade, and it’s now the cheapest source of new energy generation.
Since 2010, the cost of solar power has seen a 85% decrease, down from $0.28 to $0.04 per kWh. According to MIT researchers, economies of scale have been the single-largest factor in continuing the cost decline for the last decade. In other words, as the world installed and made more solar panels, production became cheaper and more efficient.
This year, solar costs are rising due to supply chain issues, but the rise is likely to be temporary as bottlenecks resolve.
Visualizing the Race for EV Dominance
Tesla was the first automaker to hit a $1 trillion market cap, but other electric car companies have plans to unseat the dominant EV maker.
Electric Car Companies: Eating Tesla’s Dust
Tesla has reigned supreme among electric car companies, ever since it first released the Roadster back in 2008.
The California-based company headed by Elon Musk ended 2020 with 23% of the EV market and recently became the first automaker to hit a $1 trillion market capitalization. However, competitors like Volkswagen hope to accelerate their own EV efforts to unseat Musk’s company as the dominant manufacturer.
This graphic based on data from EV Volumes compares Tesla and other top carmakers’ positions today—from an all-electric perspective—and gives market share projections for 2025.
Auto Majors Playing Catch-up
According to Wood Mackenzie, Volkswagen will become the largest manufacturer of EVs before 2030. In order to achieve this, the world’s second-biggest carmaker is in talks with suppliers to secure direct access to the raw materials for batteries.
It also plans to build six battery factories in Europe by 2030 and to invest globally in charging stations. Still, according to EV Volumes projections, by 2025 the German company is forecasted to have only 12% of the market versus Tesla’s 21%.
|Company||Sales 2020||Sales 2025 (projections)||Market cap (Oct '21, USD)|
|SGMW (GM, Wulling Motors, SAIC)||211,000||1,100,000||$89B|
Other auto giants are following the same track towards EV adoption.
GM, the largest U.S. automaker, wants to stop selling fuel-burning cars by 2035. The company is making a big push into pure electric vehicles, with more than 30 new models expected by 2025.
Meanwhile, Ford expects 40% of its vehicles sold to be electric by the year 2030. The American carmaker has laid out plans to invest tens of billions of dollars in electric and autonomous vehicle efforts in the coming years.
Tesla’s Brand: A Secret Weapon
When it comes to electric car company brand awareness in the marketplace, Tesla still surpasses all others. In fact, more than one-fourth of shoppers who are considering an EV said Tesla is their top choice.
“They’ve done a wonderful job at presenting themselves as the innovative leader of electric vehicles and therefore, this is translating high awareness among consumers…”
—Rachelle Petusky, Research at Cox Automotive Mobility Group
Tesla recently surpassed Audi as the fourth-largest luxury car brand in the United States in 2020. It is now just behind BMW, Lexus, and Mercedes-Benz.
The Dominance of Electric Car Companies by 2040
BloombergNEF expects annual passenger EV sales to reach 13 million in 2025, 28 million in 2030, and 48 million by 2040, outselling gasoline and diesel models (42 million).
As the EV market continues to grow globally, competitors hope to take a run at Tesla’s lead—or at least stay in the race.
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