All Posts Tagged With: "domestic oil"

Oil, Oil Everywhere And None Of It To Use

Three Americans want more oil drilling and 2 do not. There is a lot of hocus pocus about it. Relevant facts include: the outer continental shelf would yield 14 billion barrels of oil. ANWR would yield 10 billion barrels. Rocky Mountain oil shale in Colorado, Utah, and maybe Wyoming, would yield 2 trillion barrels. Since the first oil was extracted in Pennsylvania in the 1850s to the present, we have used 1 trillion barrels of oil.

This does not include the recently discovered oil reserves in North Dakota. We yet do not have a reliable measure of what is there but some engineers estimate that we are talking about at least 50 to 100 billion barrels of oil.

We have been told for years that we will be running out of oil any year. That is utter nonsense.