Approximate end of oil reserves on Earth:
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.
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.