Our Vast Energy Reserves, Obama Notwithstanding

Andrew G. Bostom
Mr. Obama repeatedly insists that the United States has "2% of the world's oil reserves, but uses 20% of the world's oil supply." This is an ignorant, and/or deliberately mendacious claim.   From a primer (hat tip Janet Levy) by the Institute for Energy Research, with references, below: In 2011, the United States produced 23.0 trillion cubic feet of natural gas,[1] making it the world's largest natural gas producer. [2] In 2011, the United States produced 5.67 million barrels of oil, making it the world's third largest oil producer. [3] Proved conventional oil reserves worldwide more than doubled from 642 billion barrels in 1980 to more than 1.3 trillion barrels in 2009. [4] The United States is home to the richest oil shale deposits in the world -- estimates are there are about 1 trillion barrels of recoverable oil in U.S. oil shale deposits, nearly four times that of Saudi Arabia's proved oil reserves. [5] The United States has 261 billion tons of coal in its proved...(Read Full Post)

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