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Right. You're wrong. Hell, Venezuela and Canada alone account for 33% percent of the proven oil reserve.
"The total estimated amount of oil in an oil reservoir, including both producible and non-producible oil, is called oil in place. However, because of reservoir characteristics and limitations in petroleum extraction technologies, only a fraction of this oil can be brought to the surface, and it is only this producible fraction that is considered to be reserves."
"Most of the world's oil reserves are in the Middle East."
Oil reserves - Wikipedia, the free encyclopedia