According to Wikipedia, as of 2005, the US had reserves of 2 trillion barrels of shale oil. Oil is near $100 a barrel right now. So technically we do have enough shale oil to pay down our debt and even our unfunded liabilities. But it is pretty disturbing how much of this enormous resource we would have to sell off to pay down our debt.
Some people just aren’t good at math.
Do you assume the cost to produce and refine the oil in your calculations?
Do you assume the cost to produce and refine the oil in your calculations?
Hey Wide, we will reach 47 trillion in sovereign debt at some point this week.
Wake up.