Drill here! Drill now!
We have a LOT of oil but the government won’t lwt us go get it! (130 years worth of oil with NO imports and without touching our coal reserves or natural gas reserves)
http://www.futurepundit.com/archives/002981.html
Shell says they can extract it for $30 a barrell, make that $50 using in situ, just to be safe.
“...Some estimates for the amount of oil in shale range as high as 1 trillion to 1.8 trillion barrels. Assume that 1 trillion barrels could be extracted. The United States currently uses about 20.5 million barrels per day which is about a quarter of current world oil demand. World oil demand is projected to rise to 119 million barrels per day by 2025 or about a 50% increase. Suppose we take that 119 million barrel figure and round it off to 120 million barrels. Also let us assume that oil shale could yield 1 trillion barrels of oil. That oil shale would satisfy total world oil demand by this equation: 1,000,000 million barrels/(365 days per year times 120 million barrels per day) which equals only 22 years at the projected year 2025 consumption rate. Even oil shale can delay the end of the oil era by a couple of decades. Still, we could use those decades to develop technologies to lower the cost of nuclear and photovoltaic solar power...”
1,000,000,000,000 barrels / 21,000,000 barrels per day x 365 days yealds about 130 years worth of oil with NO imports and without touching our coal reserves or natural gas reserves.