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View Full Version : Scarce Oil? U.S. Has 60 Times More Than Obama Claims



Stoney
03-16-2012, 10:41 AM
U.S. Awash In Oil

But the figure Obama uses proved oil reserves vastly undercounts how much oil the U.S. actually contains. In fact, far from being oil-poor, the country is awash in vast quantities enough to meet all the country's oil needs for hundreds of years.

The U.S. has 22.3 billion barrels of proved reserves, a little less than 2% of the entire world's proved reserves, according to the Energy Information Administration. But as the EIA explains, proved reserves "are a small subset of recoverable resources," because they only count oil that companies are currently drilling for in existing fields.

Invester's Business Daily (http://news.investors.com/article/604303/201203141303/oil-abundant-in-the-united-states.htm)

MMC
03-16-2012, 11:02 AM
Not to mention we import most of our oil from Canada, and not the ME.

Conley
03-16-2012, 11:58 AM
It's not just Obama who relies on the "proven oil reserves" numbers. It is an international standard. However, it does seem to me that for whatever reason, he's ok with keeping oil prices high and I do wonder what's behind that.

wingrider
03-16-2012, 04:30 PM
" under my plan, electricity costs will necessarily skyrocket"

Barack Obama 2007

Stoney
03-16-2012, 08:33 PM
I guess the environmentalists thin that if we make oil expensive enough algae will replace it.

MMC
03-16-2012, 09:19 PM
That rik-shaw buisness is starting to look more and more like a future prospect. I tell ya!

wingrider
03-17-2012, 08:46 PM
I think I will try to make an engine that runs on compressed air, with a compressor that runs off a 24 volt dc system through a generator that suppies power to the batteries,, the compressor feeds a storage tank holing about 500 psi of air,

any engineers on here that can help me figure out how to build it?