O’S CLAIM THAT U.S. HAS ONLY 2% OF WORLD’S OIL RESERVES IS SIMPLY WRONG
As I’ve written previously, President Alternative Energy finds himself in quite a pickle these days as gas prices have continued to climb and his approval rating has continued to tank. O has replaced his “I want oil prices to skyrocket so the country will be forced to buy into my dopey alternative energy plan” rhetoric with “I’m in full panic mode now and pretending to care about high gas prices so I won’t have my ass handed to me in November” rhetoric.
O’s problem is this: He still hates oil and everything it represents. But – he must pretend to be concerned with the rising price of gas, (which is precisely what he said he wanted to see happen) or he’ll risk re-coronation. So, what’s an environmentalist wacko beholden president to do? What O always does; speak out of both sides of his mouth.
Yes, America, O is now chasing the “We gotta lower gas prices” bandwagon – big time – as he simultaneously continues his ridiculous efforts to convince America that oil is “the fuel of the past” and that we all must stop being such oil hogs. After all, we only have “2% of the world’s oil reserves.” The only problem is – O’s wrong. But as all of us non-Kool-Aid drinkers well know, reality has never stood in the way of a good liberal political lie:
“With only 2% of the world’s oil reserves, we can’t just drill our way to lower gas prices. Not when we consume 20% of the world’s oil” has become a favorite campaign lie for the disingenuous O.
Yes, folks, there’s a tiny little problem with O’s 2% claim: John Merline at Investors Business Daily says it’s not even close to being accurate. Merline claims that the figure Obama uses – that of proved oil reserves – vastly undercounts the amount of oil the U.S. actually has in its possession.
While the U.S. does have 2% of the entire world’s proved reserves – 22.3 billion barrels – according to the Energy Information Administration, the EIA also explains that proved reserves “are a small subset of recoverable resources,” because they only count oil for which companies are currently drilling in existing fields.
Merline says – supported by various government reports – that vast supplies of oil exist in in the U.S. – all of which O conveniently (and politically) ignores. Among them:
About 24 billion barrels in shale deposits in the lower 48 states, according to the EIA.
Up to 2 billion barrels of oil in shale deposits in Alaska’s North Slope, according to the U.S. Geological Survey.
Up to 12 billion barrels in ANWR, according to the United States Geological Survey.
As much as 19 billion barrels in the Utah tar sands, according to the Bureau of Land Management.
Then of course there’s the massive Green River Formation in Wyoming, which the USGS says contains a stunning 1.4 trillion barrels of shale oil – a type of oil released from sedimentary rock after it’s heated. (This is the oil that drives the environmentalist wacko loons crazier than any other.)
Let’s get real: The problem is not a geological problem whereby the U.S. doesn’t possess vast supplies of untapped oil that could make it energy-independent for 100 years or more; the problem is a political problem created by environmentalist wackos and presidents who fear them – and act accordingly. (See: Obama – Keystone XL Pipeline.)
The truth is, America, the vast majority of America’s oil reserves are simply roped off. Solely for political reasons. Solely for reelection reasons. Brazil, China and Cuba – yes, Cuba – may soon be drilling off our coasts where Obama refuses to allow American oil companies to drill. Hell – Obama invites Brazil to drill off U.S. coasts.
ANWR, which is estimated to hold 16 billion barrels of oil – equal to a 30 years of oil imports from Saudi Arabia – sits untapped. Political ads by environmentalist loons always depict the magnificent Brooks Range in their attempt to turn public opinion against drilling in ANWR. The problem is – that’s not where the drilling would take place. The actual location of the oil is on the coastal plain, which been compared to Mars by many who have seen it.
Shale oil – which is well within our technical ability to recover – will also remain untapped as long as the wackos continue to fight fracking and horizontal drilling. As long as presidents continue to fear them, that is.
So when O says that America only has 2% of the world’s oil reserves, he’s lying, America. He’s lying – and he knows he’s lying. Moreover, he’s lying for the sole purpose of purpose of maintaining power. After all, he’s a left-wing ideologue – it’s what they do.
This is a quintessential example of the Political Lie. Joseph Goebbels understood the concept perfectly.
Frickin’ environmentalist wackos – and the presidents who fear them. Damn.