Barack Obama is Lying about American Oil Reserves

[Guest]

by Gary DeMar

If you believe what the President Barack Obama is saying, drilling for more oil won’t affect the price of gasoline, and there aren’t enough oil reserves in the United States to satisfy our growing energy needs.

I’m not opposed to securing all the foreign oil reserves we can. The sooner the Islamic nations are out of oil the sooner we will see the end of the Islamic goal of a worldwide caliphate. So let’s keep buying up Arab oil.

But while we’re draining the oil reserves out of the Middle East, we should be developing our own domestic supply. But to hear President Barack Obama’s take on American oil reserves, we don’t have much of it.

Here’s what he said when he was running for president:

“Even if you opened up every square inch of our land and our coasts to drilling, America still has only 3% of the world’s oil reserves.”

How can anyone know this? “All reserve estimates involve uncertainty, depending on the amount of reliable geologic and engineering data available and the interpretation of those data.”

There is a long history of claims that we are running out of oil. Consider the following from the Manhattan Institute for Public Policy:

“Almost since the first discoveries of oil in the U.S. in 1859, people have been saying we’re running out. In 1874, the state geologist of the nation’s leading oil producer, Pennsylvania, warned the U.S. had enough oil to last just four years. In 1914, the federal government said we had a ten-year supply. The government announced in 1940 that reserves would be depleted within a decade and a half. The Club of Rome made similar claims in the 1970s.”

In an April 18, 1977 speech, President Carter said that “Within ten years we would not be able to import enough oil — from any country, at any acceptable price.”[1]

President Obama wants to go back to the malaise years of the Carter administration and turn America into a nation dependent on foreign interests. In reality, the United States has more than 22 billion barrels of proved reserves. “Proved reserves” are what companies are currently extracting. This does not count untapped supplies. Consider the following from Investor’s Business Daily:

At least 86 billion barrels of oil in the Outer Continental Shelf yet to be discovered, according to the government’s Bureau of Ocean Energy Management.

About 24 billion barrels in shale deposits in the lower 48 states, according to EIA.

Up to 2 billion barrels of oil in shale deposits in Alaska’s North Slope, says the U.S. Geological Survey.

Up to 12 billion barrels in ANWR, according to the USGS.

As much as 19 billion barrels in the Utah tar sands, according to the Bureau of Land Management.

Then, there’s the massive Green River Formation in Wyoming, which according to the USGS contains a stunning 1.4 trillion barrels of oil shale — a type of oil released from sedimentary rock after it’s heated.

Obama, who’s said to be our nation’s “smartest president,” certainly knows all of this. So why isn’t he telling the American people the oil that’s available to us? Why is he lying to us? Does he want to make America vulnerable to a foreign takeover?

http://godfatherpolitics.com/4252/president-barack-obama-lying-america-oil-reserves/

[Bravus]

Of course, the reverse of the 'drain the Arabs oil' argument also applies to the US: use all your own oil now, and you have nothing left for the future.

[Guest]

We couldn't use all our oil now if we tried. Some say that we have enough for at least the next 70 years. That we know of. By then new technology will have evolved.

[Neil D]

by Gary DeMar

If you believe what the President Barack Obama is saying, drilling for more oil won’t affect the price of gasoline, and there aren’t enough oil reserves in the United States to satisfy our growing energy needs.

In reality, the United States has more than 22 billion barrels of proved reserves. “Proved reserves” are what companies are currently extracting. This does not count untapped supplies. Consider the following from Investor’s Business Daily:

At least 86 billion barrels of oil in the Outer Continental Shelf yet to be discovered, according to the government’s Bureau of Ocean Energy Management.

About 24 billion barrels in shale deposits in the lower 48 states, according to EIA.

Up to 2 billion barrels of oil in shale deposits in Alaska’s North Slope, says the U.S. Geological Survey.

Up to 12 billion barrels in ANWR, according to the USGS.

As much as 19 billion barrels in the Utah tar sands, according to the Bureau of Land Management.

Then, there’s the massive Green River Formation in Wyoming, which according to the USGS contains a stunning 1.4 trillion barrels of oil shale — a type of oil released from sedimentary rock after it’s heated.

Obama, who’s said to be our nation’s “smartest president,” certainly knows all of this. So why isn’t he telling the American people the oil that’s available to us? Why is he lying to us? Does he want to make America vulnerable to a foreign takeover?

If some how, we were able to instantly produce all that oil right now, at the current rate that we are using, it would give us energy for approximately 22 years max....

Does this change your thinking at all?

It's taken 4 years to get the auto industry to change thru a near bailout and collapsed economy US economy. We've been talking about this time since the Carter Administration [nearly 40 years]....and up till the last 4 years, we have done very little to improve our current move toward more sustainable energy, and it's due to lobbist from the oil industry and the crys of "it's costing too much" crowd...

if you think it's hard to change now, just wait until those barrels run out.....

[Guest]

Lobbyists from the oil industry??! Man are you way off! Do you really think that's our problem? I was sorta with you up until you said that. That shows a lack of understanding regarding the issue, that I can probably not pull you out of.

Also, I reject your "22 years max" claim, and probably the premise that the claim is based on. But even if that were true, (which it isn't) that would give us 22 years of not buying oil from our enemies, and people who despise us.

(The Economy Would Boom!)

And then you act like no new oil would be located here in the next 22 years. As if that's it. A 22 year supply, and that's it. Then we're cut off. Boom! ....Please!

There is PLENTY of oil here. And a lot more can be found in 22 years. I would take the 22 years, even if that really were all that we had right now. But it's not.

Also technology will not just stand still for 22 years, like you seem to imagine.

That 22 years be lookin pretty good, yes?

[Dr. Shane]

Of course, the reverse of the 'drain the Arabs oil' argument also applies to the US: use all your own oil now, and you have nothing left for the future.

That is why we need to develop alternative energy while we are using our fossil fuels. Given the amount of coal the US has, I think there is at least another century of fossil fuels here.

[Dr. Shane]

If some how, we were able to instantly produce all that oil right now, at the current rate that we are using, it would give us energy for approximately 22 years max....

Actually, the oil wells that have been pumped "dry" and capped have over 50% of their oil still in them. Oil is stored in rock. There is not a river or lake of oil underground that we discover and pump up. The oil is in rock under pressure. When first discovered it just blows out - like what was happening on the bottom of the Gulf of Mexico. Once the initial pressure is relieved we pump water down into the well to create more pressure and push the oil out. Then when we get "all" the oil out we cap the well. However advancement in technology now has produced scrubbers that we can pump down into the well instead of water and get even more oil out. In fact, they believe that over 50% of a well's oil is still in it after it has been capped off. And that is just the crude oil story.

We can then start talking about natural gas which car manufacturers can easily make cars that run on natural gas.

When we get done talking about natural gas we can switch the topic to coal-to-liquid fuel. Liquid coal fuel can be put right into a gasoline car without any conversions.

The US has far more than 22 years of fuel supply. That doesn't mean we shouldn't preserve what we have. A car's tags should be priced according to the fuel efficiency of the car. cars getting over 40miles/gallon should cost $75/year for tags. $125 for cars 30 - 40 mpg. $250 for cars 25-30 mpg. $350 for cars 20-25 mpg. $500 for cars 15-20mpg. $1,000 for cars and trucks less than 15mpg.

[Neil D]

Also, I reject your "22 years max" claim, and probably the premise that the claim is based on. But even if that were true, (which it isn't) that would give us 22 years of not buying oil from our enemies, and people who despise us.

What is Oil Use per Day in the US?

Written by: Tony Smejek • Edited by: Lamar Stonecypher

Published Jan 7, 2011 •

The abundance of the amount of oil used on a daily basis is phenomenal and it keeps continuing to go up. With the rise in population and the increase in the demand of oil, within a few decades, we could run out.

How Much Oil Do We Use?

The US, on average, uses approximately 20 million barrels of oil a day, which basically is about a quarter of the world’s oil supply resulting in 25% of the world’s carbon emissions.

With predictions of oil supplies being exhausted in the next forty years, demands on oil production are still being made. Three factors affect the demand for the need of oil: population increases, new ways that an oil resource can be utilized, and the need for oil to increase the standard of living.

figure it out...22 years is what I figured out based upon what YOU provided and the rate is 20 Million barrels per day....and we got 15 trillion {?} barrels...and you are projecting that we will drill more oil? Where? Another deep water drill like what they spilled in the gulf a couple of years ago? Or maybe some other anartic cold spot like alaska?

You surely don't like biofuel, as you think that Pres. O is catering to some bio-chemical fuel company that has it's hands out for tax payer moneys.....

Has it ever occured to you that there is a reason that we don't do deep well drilling?

You think that when those 22 years whiz by that we will instantly transform our cars to the energy needed to get better gas mileage....? You are complaining NOW when we are attempting to do it...What make it any easier then?

[Neil D]

We can then start talking about natural gas which car manufacturers can easily make cars that run on natural gas.

When we get done talking about natural gas we can switch the topic to coal-to-liquid fuel. Liquid coal fuel can be put right into a gasoline car without any conversions.

[Dr. Shane]

Originally Posted By: Shane

A car's tags should be priced according to the fuel efficiency of the car. cars getting over 40miles/gallon should cost $75/year for tags. $125 for cars 30 - 40 mpg. $250 for cars 25-30 mpg. $350 for cars 20-25 mpg. $500 for cars 15-20mpg. $1,000 for cars and trucks less than 15mpg.

it does seem that your prices would/might put some of our road crews out of work....due to the high cost of cars, and the exhorbadent fees one pays...who could afford a car? it will become a luxury item in a economy that demands a car...

I don't think so. People would buy cars that get better mileage. There are several cars on the market already that get between 30-40 mpg. Many of the diesel cars get over 30 mpg.

[phkrause]

I don't think so. People would buy cars that get better mileage. There are several cars on the market already that get between 30-40 mpg. Many of the diesel cars get over 30 mpg.

Well I disagree, for years we've heard that mpg would go up? It barely barely goes up! Unless we buy smaller and smaller cars, mpg will creep up very slowly. At least in the USA our hunger for power in cars will never help us to get that down. Look how hard its been getting people to buy electric cars? To expensive, they can't get them to make batteries that can charge for longer periods of time, let alone get real commitments from the car industry. And there are a few, and I mean a very few that do close if not more than 50 mpg. These cars are so little there are people that can't even fit in them.

[Dr. Shane]

From what I understand, the vehicle registration fee in Japan is based on engine size and as a result many people there choose to purchase smaller cars. That is what we want. We want people to purchase more efficient vehicles. The Honda Civic gets 36 mpg and the Accord gets 32 and both of those are nice cars.

[phkrause]

No one said they were not nice cars, they are and I own a '91 Honda that does 36 miles to the gallon, so now they do 32, that tells me they've gone the other way???? So from '91 to '12 the mpg have gone down instead of up. Seems odd don't ya think? No mpg will go up and down and in my opinion the Honda will do pretty much the same 10 years from now.

[Dr. Shane]

The Civic does get 36. The hybrids are getting over 40 but I am not sold yet that hybrids are that good. How much fuel is spent in the mining and manufacturing of those batteries for the hybrids? And how much gas needs to be saved to make up for that? I have seen articles that show the electric car actually contributes more carbon to the environment during the manufacturing of it than most gasoline cars will contribute during their lifetime on the road.