So here we are using 20 million barrels a day producing eight, importing 12, and from the 12, five comes from OPEC.

When you look at the biggest user and the second largest user, we use 20 million barrels and the Chinese use 10.

light crude and heavy crude well, it's about 14 bucks a barrel.

Let's put Nigeria in perspective.

We use over five billion tons of coal, 30 billion plus barrels of oil that's a hundred million barrels a day.

Baler

For every four barrels of oil that we consume, we only discover one.

One tanker, 16o,ooo barrels by the end of next month.

If you go forward the next 10 years and cap the price of oil at 100 dollars a barrel, you will pay 2.2 trillion.

And then we do the OPEC stimulus package also known as 200 dollars a barrel.

...before the projections catch us?

So here you are, that the cost of all this to the world is 89 million barrels of oil, give or take a few barrels, every day.

It would be three times what the Saudis claim they have.

And that also brought me to the fact that this poses such a risk to our society.

That's another 30 percent demand on oil.

And all those mega barrels under Detroit cost an average of 18 bucks a barrel.

And that costs on average under 18 dollars a barrel.

They're there to control, keep the shipping lanes open and make oil available.

We can save half the oil by using it more efficiently, at a cost of 12 dollars per saved barrel.

Oilmen spent the energy equivalent of 1 barrel of oil to find and extract 100.

The easy to extract, high quality crude was pumped first.

What does that do for entrepreneurs?

Several factors make oil unique it is energy dense.

Captain, we got a hundred barrels down there rigged to blow. and this.

Here is the problem at 147 dollars a barrel, which we were in six months ago, the U.S. spent a ton of money to get oil.

Commodity prices are like this.

Remember that large numbers can be deceptive.

They make it very clear to you, the Saudis do, they have to have 94 dollars a barrel to make their social commitments.

Middle Eastern oil prices jumped by five dollars per barrel.

In Europe where taxes are in place, that's the equivalent to a minus 60 dollar barrel.

And then we can replace the other half with a combination of advanced bio fuels and safe natural gas.

Oil. Oil. This was a big topic.

Each N plus 1 corresponds to each of these terms, so there are N of these.

There.! Right through there.

Why do we care? Here's why we care...

The label went away for me here.

Well, there are a couple of ways you can think about doing this

Take this.

Lined up the decimal points, include the zeros on top.

Actually, let me erase this over here.

Three is not larger than four.

Why didn't you tell me?

So it's going to look like this.

Well, if I just wanted to figure out the area of

That would have been a horrible mistake.