Hmm let’s see. Drilling estimates that at some point 5-7 years in the future a maximum of 21 billion barrels are available.
Let’s assume that there is really 60 billion out there.
At the US’s current consumption rate of 20 MPD that would last about 12 years.
Of course a genius like you would probably calculate in increased rates of consumption considering the price would go down and demand would go up. But dummies like me don’t understand that supply and demand stuff. Or are you in favour of that whole girly-man efficiency thinger?
The American Petroleum Institute estimates recoverable U.S. oil resources at about 86 billion barrels offshore and 32 billion barrels onshore.
Natural gas?
Shale?
Tar sands?
Coal?
In 1920 estimates were worldwide oil reserves were 60 billion barrels. I’m quite sure had you been alive then you would have believed it.
Bakken has reserves estimated at 5 billion barrels. ANWR 9-16.
That about covers your 21 billion right there and we haven’t even got offshore yet. Not to mention that there is a helluva lot more America than Bakken and ANWR.
As for supply and demand I got a good chuckle. Americans are demanding we drill in America and off our shores. You? Not so much. Do you think we can power America on windmills and solar panels for the next 50 years?