In this piece, we will look at 5 Countries with the Highest Resource Consumption in the World. If you wish to see our detailed discussion on the issue of scarcity of global resources, you can go directly to 20 Countries with the Highest Resource Consumption in the World.
5. Indonesia
Oil Consumption of barrels per day in 2023 (in thousands): 1,604
Electricity Consumption (billion kWh): 312
Coal Consumption (short tons in thousands): 221,450
Natural Gas Consumption (billion cubic feet): 1,274
Biofuel Consumption of barrels per day (in thousands): 179
Annual Water Consumption (billion-meter cube): 223
Aggregate Resource Consumption: 225,166
Indonesia is a country abundant with the supply of water and minerals like nickel, the latter of which is a crucial component of the global transition of decarbonization. The country has 55% of the global quantity of nickel, according to the United Nations, and, is therefore, a critical player in the decarbonization mission of the world.
However, despite having abundant water supply in the country, Java Island, which has 60% of the country’s population living in it has just 10% of the water supply; this showcases uneven and unsustainable allocation of basic resources, such as water in the country.
4. Russia
Oil Consumption of barrels per day in 2023 (in thousands): 3,635
Electricity Consumption (billion kWh): 1,026
Coal Consumption (short tons in thousands): 291,357
Natural Gas Consumption (billion cubic feet): 16,677
Biofuel Consumption of barrels per day (in thousands): N/A
Annual Water Consumption (billion-meter cube): 65
Aggregate Resource Consumption: 312,809
Amidst the serious topic of excessive resource consumption under discussion here, we have Russia – a country that’s in a war state and is therefore consuming up all of its natural resources to sustain itself in the short run, without having any regard for the global resource scarcity issue.
Despite being sanctioned by the West, the country has been exporting oil excessively to the non-western side of the world. Furthermore, it has increased its aluminum and nickel exports to the EU and the U.S. by 70% from March 2022 to June 2022.
To make things worse, Rosatom, the country’s nuclear monopoly saw its exports increase by 15% in 2022, while having a $200 billion foreign order book, according to the Wilson Center.
3. United States
Oil Consumption of barrels per day in 2023 (in thousands): 18,984
Electricity Consumption (billion kWh): 4,128
Coal Consumption (short tons in thousands): 515,555
Natural Gas Consumption (billion cubic feet): 32,288
Biofuel Consumption of barrels per day (in thousands): 1,132
Annual Water Consumption (billion-meter cube): 5
Aggregate Resource Consumption: 573,118
Next, we have the U.S. Being one of the most populated countries in the world, and being a high-income country, it’s obvious that the country is amongst the top countries that consume the most resources in the world. Specifically, the U.S. and the EU together are responsible for 74% of the global resource consumption, with the U.S. being responsible for 27% of the extraction.
2. India
Oil Consumption of barrels per day in 2023 (in thousands): 5,446
Electricity Consumption (billion kWh): 1,463
Coal Consumption (short tons in thousands): 1,273,287
Natural Gas Consumption (billion cubic feet): 2,079
Biofuel Consumption of barrels per day (in thousands): 92
Annual Water Consumption (billion-meter cube): 761
Aggregate Resource Consumption: 1,282,731
India, which is home to roughly 1.45 billion people, is expected to be home to 1.5 billion by 2030, and with limited resources in the country, serious resource scarcity is expected to hit the country. While the country’s population makes up 18% of the global population, its land, forest, and clean water only make up 2.4%, 2%, and 4% of the global totals of the respective resources, according to Eco-Business.
1. China
Oil Consumption of barrels per day in 2023 (in thousands): 16,577
Electricity Consumption (billion kWh): 8,540
Coal Consumption (short tons in thousands): 5,311,746
Natural Gas Consumption (billion cubic feet): 12,931
Biofuel Consumption of barrels per day (in thousands): 78
Annual Water Consumption (billion-meter cube): 581
Aggregate Resource Consumption: 5,349,024
China, the third largest in the world by size, is a country in which a whopping 1.4 billion people reside – the second highest in the world. Thus, understandably, one can expect it get listed here. However, what might seem astonishing is the share of consumption of resources the country has – 15% of the world’s resources are consumed by China alone!
“To learn about other top countries with the highest oil consumption in the world, you can check out our detailed report 20 Countries with the Highest Resource Consumption in the World. At Insider Monkey, we delve into a variety of topics, ranging from the best online ESL courses to business aspects; however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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