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Approx: 1,221,074,628,164 barrels remaining .

Approximate end of oil reserves on Earth:

PetroDollar - XPD

Oil will continue to dominate the primary energy mix for the next 25 years, with demand increasing to almost 100 million barrels a day. Natural gas will see the strongest growth of any fossil fuel, with demand growing on average 1.429% per year.

PetroDollar is a peer-to-peer digital currency designed to deflate with relation to the world crude oils reserves. PetroDollar has a approximate 1:10,000 relationship to barrels of oil still existing in the ground, thus creating an analogy of the USD/OIL trading pair. Every transaction(Tx) broadcast over the PetroDollar network will be charged a transaction fee to be destroyed in line with oil depletion. Transaction fees are destroyed autonomously, at an organic rate based on a mathematical model of the oil market. PetroDollar has a current fee of 1.429% of the amount transmitted, increasing to approximately 15% in year 2045.

PetroDollar developers reserve the right to re-evaluate future destruction patterns in order to adapt them to real-world oil market dynamics as history unfolds. All changes from the base design will be justified by appropriate statistical references and computations which shall be provided.

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About PetroDollar
  • SHA-256 Algorithm
  • 35+ Year mining protocol
  • Progressive Tx fee destruction
  • Total coins: XPD 121,074,628

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1,221,074,628,164 barrels are remaining, defined by latest calculations (20/02/2014). "World Proved Reserves of Oil and Natural Gas, Most Recent Estimates - Energy Information Administration (EIA) - Data from BP Statistical Review, Oil & Gas Journal, World Oil, BP Statistical Review, CEDIGAZ, and Oil & Gas Journal." EIA.

PetroDollar is designed to have a 1:10,000 relationship to barrels of oil still existing in the ground. Every transaction fee is destroyed with relation to the world oil reserve levels.

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