By Gary P Jackson
We’ve continually noted that the United States has enough reserves to be completely energy independent for centuries, if we would just tap that energy. In June of 2008 Kiplingers ran an article stating:
… untapped reserves are estimated at about 2.3 trillion barrels, nearly three times more than the reserves held by Organization of Petroleum Exporting Counties (OPEC) and sufficient to meet 300 years of demand-at today’s levels-for auto, aircraft, heating and industrial fuel, without importing a single barrel of oil.
That doesn’t take into account all of the natural gas and coal we have. As Whitney Pitcher reported a year ago, there are 1.67 QUADRILLIAN [1,670 trillion] cubic feet of natural gas in the arctic alone. And we have the world’s largest recoverable coal reserves. And we haven’t even talked about nuclear yet.
The fact is, the United States is the most energy rich nation on the planet, and yet, thanks to decades long policies, put forth by both political parties, we are beholden to the rest of the world for the energy we need.
We’ve allowed radicals and “green” fanatics, as well as scam artists looking to make a buck off the “green” movement, to set our energy policy. How idiotic is that?
Energy, and it’s pricing, drives the economy. High energy prices are killing our economy. So is the fact we import, rather than use our own energy. We are losing hundreds of thousands of jobs, and between $700 billion and a trillion in revenue annually.
Jim Angle has more on this:
In almost every energy speech, President Obama makes this statement: “We’ve got 2 percent of the world oil reserves. We use 20 percent.”
But there’s more to those numbers than meet the eye.
“It’s accurate but extremely misleading,” says Dan Kish of Institute for Energy Research, which is supported by the industry. “What he is talking about is oil we already have found.”
Misleading, he argues, because the president is pointing to “proven” reserves, which is some 21 billion barrels, but the U.S. is sitting on vast reserves of untapped energy that are far greater.
One federal agency says there’s 10 times more — 219 billion barrels more –, in what is called “technically recoverable” energy.
Another agency in the Energy Department says there’s 20 times that much, or 400 billion barrels more, and some in the industry claim there’s 60 times that amount, meaning some 1.4 trillion barrels in untapped resources.
That’s energy the government knows we have but that has not yet been drilled for. Industry experts argue it’s there for the taking.
“The trillion-plus barrels of oil in this country, more oil than in Saudi Arabia, is not counted by the president, and I think that’s misleading the American people,” John Hofmeister, the former president of Shell Oil, said.
With those kinds of resources, the U.S. could continue at its current consumption rate for 200 years without any imports, Kish of IER said. “And add Canada and Mexico? The numbers go off the chart.”
But not everyone thinks we should be drilling more.
“We are addicted right now — there’s no question about that. But there’s a question about how do we get off of that addiction,” Erich Pica, president of Friends of the Earth, said.
The president prefers to emphasize weaning ourselves off of oil, which reduces the urgency to drill. And Pica and many other environmentalists agree.
“I don’t think that it is a good decision for this country or for the globe, realistically, to push for maximum drilling,” Pica said. “The atmosphere just can’t hold that much carbon dioxide anymore.”
Obama refers to the more limited number of proven reserves as a way to argue it would be futile to drill for more oil — because it could never be enough to meet our needs.
“As much as we’re doing to increase oil production,” Obama says, “we’re not going to be able to just drill our way out of the problem of high gas prices.”
“Some of us believe that the president is trying to suggest that we don’t have adequate resource here in the United States, which is just not true,” says Jack Gerard, president of the American Petroleum Institute, another industry group.
Analysts point out that proven reserves were 20 billion barrels back in 1944. But we’ve produced some 170 billion barrels since then, and proven reserves are still just over 20 billion.
In fact, one industry analyst says by tapping American oil along with Canadian resources and renewable energy, the U.S. could be self sufficient in just 12 years.
We already know global warming is a hoax. We also know that energy exploration, due to all of the regulations, is safer and more environmentally friendly in the U.S. than in any other country. There is simply no excuse for our nation to continue it’s dependence on other countries, many who hate us, when we have so many reserves right here.
We also know that adding supply to the market will cause prices to come down. Even the hint that we are really going to get serious about becoming energy independent would cause oil prices to plummet.
Currently the prices are rising on fears of confrontation with Iran. If that oil is taken off the market, all bets are off.
Of course, that brings us to another important issue that Obama and “Team Green” refuse to consider. One of the reasons we put up with rogue nations, nations that threaten the entire world, is the need for cheap oil.
Our foreign policy would look a lot different if we were completely energy independent.
Obama is lying to the American people, the “greens” are lying to the American people, and it’s time we stand up and demand real change.
There is no excuse for not America not being energy independent.