"Those shale resources alone are actually three times larger than the proven reserves of Saudi Arabia, so the claim that the U.S. only has 2% of the world's oil is clearly false."
I'm sick of hearing about the oil shale.
Just like the hydrogen fuel cell, it produces less energy than it takes to get it.
It seems realistic that the US has something like <5% of all known liquid oil deposits, but uses 25% of world output per day.
It's also true that the US Dept. of Interior claims we have 134 billion untapped barrels of liquid oil. That includes Bakken, ANWR, offshore in all US waters, everything. Guess what, even if we had every drop in hand, right now, that's only 18 years worth at present consumption of 20 million bbls/day. Probably a lot less, since we increase consumption every year.
Who cares if O fudges stats some, the truth is plenty bad enough.
- OS