Thursday, April 25, 2024 | St. Lawrence County, NY
A cursory investigation into the oil reserves worldwide will disprove the “Oil for Americans Only” thesis that we (U.S.) don’t use the oil in the ground controlled by the U.S. The U.S. consumes …
This item is available in full to subscribers.
To continue reading, you will need to either log in to your subscriber account, or purchase a new subscription.
If you are a digital subscriber with an active, online-only subscription then you already have an account here. Just reset your password if you've not yet logged in to your account on this new site.
Otherwise, click here to view your options for subscribing.
Please log in to continue |
A cursory investigation into the oil reserves worldwide will disprove the “Oil for Americans Only” thesis that we (U.S.) don’t use the oil in the ground controlled by the U.S. The U.S. consumes nearly 25 percent of the world’s oil production, yet the U.S. has merely 2-4 percent of the proven reserves (approximately 22 billion barrels). Currently the U.S. pumps 6-8 million barrels/day and imports 9-11 million barrels/day of a worldwide production of about 85 million barrels/day, which includes the U.S. production. If the U.S. could (it cannot because of physical limitation) pump all the oil it uses daily from its own reserves 22B/20M=1100 days or a bit over 3 years is all we have; then what?
