“In reality, the United States has more than 22 billion barrels of proved reserves. “Proved reserves” are what companies are currently extracting. This does not count untapped supplies. Consider the following from Investor’s Business Daily:
- At least 86 billion barrels of oil in the Outer Continental Shelf yet to be discovered, according to the government’s Bureau of Ocean Energy Management.
- About 24 billion barrels in shale deposits in the lower 48 states, according to EIA.
- Up to 2 billion barrels of oil in shale deposits in Alaska’s North Slope, says the U.S. Geological Survey.
- Up to 12 billion barrels in ANWR, according to the USGS.
- As much as 19 billion barrels in the Utah tar sands, according to the Bureau of Land Management.
- Then, there’s the massive Green River Formation in Wyoming, which according to the USGS contains a stunning 1.4 trillion barrels of oil shale — a type of oil released from sedimentary rock after it’s heated.”
Why are we so dependant on foreign oil? Why haven’t we helped ourselves? We have outsourced our factories and export more than is US made. We need to turn this around before it is too late. We assume America is still a major world power. If we are not careful, we will become a ‘third world’ country that can’t feed it’s population.