Venezuela
Trinidad and Tobago is a Caribbean country where petroleum can be found. It is known for its oil and gas resources, which play a significant role in the country's economy.
5 richest countries in the Western Hemisphere by GDP:United StatesBrazilUnited KingdomCanadaSpain5 richest countries in the Western Hemisphere by GDP per capita:CanadaUnited StatesUnited KingdomSpainBahamasOnly countries that are over 50% located in the Western Hemisphere are included.
Libya's most important natural resources are oil and natural gas. The country has the largest proven oil reserves in Africa and significant natural gas reserves. These resources are crucial to Libya's economy and have historically been major drivers of its GDP.
Venezuela was once a Spanish colony and is one of the major exporters of oil in the western hemisphere. Its economy is heavily reliant on oil exports.
Norway is the Nordic country that has its own oil supply, with significant offshore oil reserves in the North Sea contributing to its economy.
Panama- plays a crucial role in world trade and has become a regional financial center; Uruguay- about 90% of the population is of white European ancestry; Venezuela- economy dominated by petroleum, has the largest oil reserves in the Western Hemisphere; Brazil- largest most populated country in South America, natives speak Portuguese
Reserves = 10 million barrels. See attached link. Production is insufficient to meet demand, so I would not characterize them as significant to the economy of Greece. Now if I owned them, it would be a different story!
What was one reason the United states dominated the world economy
Egypt is richer than Yemen due to a more modern economy (with various manufacturing plants), large petroleum reserves, and a relatively fruitful agricultural sector.
Robert Bamberger has written: 'Energy emergency preparedness policy' -- subject(s): Energy conservation, Energy policy, Government policy, Petroleum industry and trade, Petroleum reserves 'The state of recorded sound preservation in the United States' -- subject(s): Copyright and digital preservation, Fair use (Copyright), Conservation and restoration, Digitization, Digital preservation, Sound archives, Copyright, Soung recordings, Sound recordings, Sound recording libraries 'World oil and the ANWR potential' -- subject(s): Economic aspects of Petroleum industry and trade, Energy consumption, Energy policy, Oil and gas leases, Petroleum industry and trade, Petroleum products, Petroleum reserves, Prices 'Energy and the 98th Congress' -- subject(s): Energy policy, United States, United States. Congress 1983-1984) 'Oil supply disruptions and the U.S. economy' -- subject(s): Econometric models, Economic conditions, Petroleum industry and trade, Petroleum products, Petroleum reserves, Prices 'The naval petroleum reserves' -- subject(s): Fuel, Petroleum reserves, United States, United States. Navy 'Gasoline rationing' -- subject(s): Gasoline supply, Rationing 'Petroleum industry ills' -- subject(s): Energy policy, Petroleum industry and trade, Petroleum law and legislation, Petroleum products, Prices
The oil in Saudi Arabia will not be exhausted by 2040. Estimates give it far longer than that; it is the Gulf Countries that are more limited in their reserves. As for the meat of the question, e.g. what will happen to the Saudi economy when the reserves are, it will depend on how the income has been invested. Saudi Arabia has historically been slower to diversify its portfolio and, if current investment trends continue, Saudi Arabia will have a sharp decline following the exhaustion of its reserves.
The economy of Saudi Arabia is dependent on oil and has strong government control over major economic activities. The Saudi economy is the largest in the Arab world. Saudi Arabia has the world's second-largest proven petroleum reserves and the country is the largest exporter of petroleum. It has also the fifth-largest proven natural gas reserves. Saudi Arabia is considered an "energy superpower". It has third highest total estimated value of natural resources, valued at US$34.4 trillion in 2016
Libya's mineral resources include gypsum, limestone, iron ore, salt, and petroleum. The country is known for its significant oil reserves, which have been a major driver of its economy.
The southern agrarian economy was dominated by wealthy landowners. An agrarian economy primarily relies on farming. The majority of these economies went away during the industrial revolution.
The economy in Iraq before the fall of Saddam and after has been the sale of its crude oil from proven oil reserves. These reserves are quite large and keep its economy going.
Merchants
Cotton