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Americas Vast Energy Resources
h/t InstapunditFor a long time, the Left has gotten away with underselling Americas energy resources. The old chestnut that the U.S. uses 25% of the worlds oil but only has 2% to 3% of the worlds oil reserves has been repeated endlessly by Barack Obama and many others. This claim fooled millions of people who didnt understand that in the U.S., reserves means petroleum that is 1) legally available for development, and 2) profitably extracted at current prices. So if Democrats would stop preventing drilling, we could vastly increase our reserves, as legally defined, overnight. Happily, the publicity that has recently been given to massive shale oil and natural gas deposits in North Dakota, Pennsylvania and elsewhere has awakened many Americans to the fact that our energy resources are truly vastgreater, in fact, than any other countrys. The point is driven home by a new report that has just been released by the Institute for Energy Research. Posted by: g(r)omgoru 2011-12-07 |
| http://www.rantburg.com/poparticle.php?ID=334820 |