F. Swemson

What Energy Crisis? The Truth About Our Oil Reserves

Posted on December 13 2009 3:33 pm
I'm an Objectivist, a disciple of Ayn Rand since I was 15. Graduate of NBI (Nathaniel Branden Institute) 1964 I was a philosophy major @ NYU & dropped out to join the Marine Corps Served as a Combat Photographer in late 60's I've been writing for over 20 years.
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One of the stories that we’ve been hearing for years now, in justification of the government’s refusal to allow any more drilling or the construction of any new refineries, is that our oil reserves are so low that they won’t last us very long if we use them.

It’s true that many people believed that in the past, and many apparently still do, but the truth that’s beginning to emerge now, is going to bury that idea, in the same way that we’re currently debunking the absurd idea of Anthropogenic Global Warming.

While there have been some stunning new discoveries, a huge part of our new found reserves, has come as a result of recent developments in drilling technology which now allow us to drill far deeper, as well as allowing us to change the direction that we’re drilling in once we’re already down quite deep. As a result of these new techniques, many of the existing proven reserves, can now supply us with far more oil than we thought possible before.

But the numbers are still stunning !

According to our government’s Energy Information Agency’s (EIA) latest report (March 2009) the total known oil reserves of the world amounted to roughly 1.3 trillion barrels of which the USA had only 21 billion. While that may sound like a lot of oil to some, it amounted to only 1.6% of the world’s known reserves. According to those statistics, Saudi Arabia, with 265 billion barrels, had close to 13 times as much oil in reserves, as the entire United States.

Now here’s the good news:

According to an Investor’s Business Daily ( report dated Nov 5, 2009, the Congressional Research Service (CRS) in now reporting that the total known energy reserves of the world amounts to roughly 5.58 trillion barrels which is 4.3 times greater than what we had previously been told by the EIA. What’s even more exciting, is that Saudi Arabia, with 540 billion barrels no longer has the biggest slice of the pie. WE DO!

That’s right. According to the CRS statistics, America has 1.32 TRILLION barrels of reserves, or 2.4 times as much as Saudi Arabia, and this doesn’t include all the oil in the shale & tar sands which are mostly in Canada anyway.

According to the report, the breakdown of the world’s major reserves are as follows: (in billions of barrels)

1: USA: 1,320
2: Russia: 1,250
3: Saudi Arabia: 540
4: China: 490
5: Iran: 430

Numbers 6 thru 10 belong to the lesser Gulf States, along with Canada at 220, Venezuela at 160, and Nigeria at 130

The truth about the reserves has been known around the oil patch for some time now, but it totally freaks out the enviro fascists, because the majority of these reserves are located in our territorial waters, and all those mindless fools can think of is images of oil rigs visible all along the west coast, and the east & gulf coasts as well.

Of course the truth of the matter is that very few of those rigs would be visible at all, as most of the deposits are far enough from the beaches that they couldn’t be seen at all.

The next cry we’ll hear from the enviro fascists is how those rigs would cause an environmental disaster that would destroy the oceans of the world. By the time that happens we’ll probably be referring to BS like that as an “AlgorLie”, because it’s so darn far from the truth.

If you ask any experienced fisherman about offshore oil rigs, you’ll learn that the rigs actually become artificial reefs that attract marine life, not repel it. Fishermen LOVE them, and just like hunters, fishermen for the most part are the true environmentalists of their realm.

The risk to the environment from spills from offshore rigs, is extremely small, and frankly insignificant by comparison to the benefits that they will produce. With the trillions of dollars in wealth that they’d be creating, we’ll be able to clean up the worst possible spills far more efficiently than we have in the past, and we must remember that even the worst spills can indeed be cleaned up. It took quite a while to clean up the majority of the mess from the EXXON Valdez, and mother nature will take care of the rest over time, but the bottom line is that taking such a small risk in order to bring America back from her current bankrupt condition back to being the richest nation in the world once again, is a risk well worth taking. The only potential concern that I have is that we must first get rid of the socialists and communists who are currently running our country, because if a sociopath like Obama were to get his hands on that much wealth, we’d never be able to get out from under his control.

Is there nobody in the government or mainstream media who will tell us the truth about anything anymore?

“America has an energy crisis, America is bad, the Israelis are the real terrorists, and on top of that, the world’s about to be roasted on a spit”


F.S. :-(

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