Truth About Oil Reserves
September 3, 2008
From API’s website www.energytomorrow.org:
Rhetoric: We can’t drill our way out of this problem because the United States only has three percent of the world’s oil reserves.
Reality: America has vast resources of oil and natural gas – enough oil to power more than 60 million cars for the next six decades and enough natural gas to heat 60 million homes for 160 years, according to government estimates. We may have considerably more resources, since the government conducted their last true inventory in the early 1980s using old data from now-outdated seismic equipment.
To help encourage informed and effective conversations about energy, API has compiled some of the most frequently heard claims and proposals, along with the realities that need to be considered when evaluating them.
We may use 25% of the world’s oil and only get 3% domestically as Boone Pickens suggests, but there is a lot more out there we are NOT allowed to get. So this argument is misleading. Could there be an alterior motive behind it??? – FedUpEditor
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