"The volatility in oil prices over the past decade has created plenty of concern for businesspeople, national governments, and global policymakers alike. With such uncertainty in pricing, coupled with environmental concerns as our world's appetite for fossil fuels grows, the questions of whether there are enough petroleum oil reserves to satisfy demand and what the consequences of its extraction will be, have never been more pertinent.

(millions of barrels)
1 Venezuela 303,806
2 Saudi Arabia 258,600
3 Iran 208,600
4 Canada 170,300
5 Iraq 145,019
6 Somalia 111,777
7 Kuwait 101,500
8 United Arab Emirates 97,800
9 Russia 80,000
10 Libya 48,363"