Top 10 Countries by Natural Resources
Russia holds the largest proven natural resources in the world. In fact, it can power the subsequent two industrial revolutions and sustain itself without relying on the rest of the world for the next millennium.
The United States ranks a distant second but still possesses enough resources to support the nation for centuries. Its resource endowment is diverse and strategically located, enhancing its connections with international markets.
Third-place Saudi Arabia is known for its substantial oil reserves. However, as the world moves away from oil dependency with the rise of electric vehicles (EVs), oil demand may significantly decline by 2040, potentially halving revenue for the Saudi monarchy.
Notably, no African country appears in the top 10. Africa is poor on assets, infrastructure, technology, food production, and now, even with natural resources—something it has often touted. Oil-rich nations like Nigeria and Angola possess combined reserves much smaller than those of Iran or Iraq. In fact, both Venezuela and Canada have more proven reserves than the entire continent of Africa combined.
Africa’s proven oil reserves amount to 125.3 billion barrels, while Venezuela has 304 and Canada has 171 billion barrels, respectively.
By Ikechukwu ORJI
