Wednesday, June 16, 2010

Gettin The facts Right On American Oil Reserves

 From an article at American Thinker by Chad Strafko,
We are not running out of places to drill on land and in shallow water.  In fact, it is due to the President's party of extreme environmentalists that BP had to drill some 40 miles from the coastline in deep waters to extract oil.  Imagine if this oil leak had happened in the shallow waters off of the East Coast or even, dare we say it, in the pristine ANWR region.  How much easier it would have been to cap the leak and clean up the oil.
Consider our nation's vast oil reserve resources that are currently unavailable for use due to government ownership of the land or outright bans on drilling in certain areas.
According to a June 2008 article in Kiplinger Magazine, the United States has enough oil reserves to power the nation for upwards of three centuries.  That's three-hundred years, Mr. President.  We are not running out of oil reserves, it's just that those oil reserves have been declared off limits due to decades of environmental lobbying of our politicians, especially those on the Left.  This lobbying has driven the likes of BP and others out deep into the Gulf of Mexico to extract the nation's needed oil.
Note the following statement from the article:
"...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."
Think about that.  The nations that currently hold us hostage by their massive oil production actually have far less reserves than our own nation.
To read the rest

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