According to a June 2008 article in Kiplinger Magazine, the United States has enough oil reserves to power the nation for upwards of three centuries. That’s three-hundred years, Mr. President. We are not running out of oil reserves, it’s just that those oil reserves have been declared off limits due to decades of environmental lobbying of our politicians, especially those on the Left. This lobbying has driven the likes of BP and others out deep into the Gulf of Mexico to extract the nation’s needed oil.
Note the following statement from the article:
“...untapped reserves are estimated at about 2.3 trillion barrels, nearly three times more than the reserves held by Organization of Petroleum Exporting Counties (OPEC) and sufficient to meet 300 years of demand-at today’s levels-for auto, aircraft, heating and industrial fuel, without importing a single barrel of oil.”
http://www.americanthinker.com/2010/06/the_presidents_oil_reserves_li.html
Most of that is tar sands and heavy oil. For those to be commercial, you need prices upward of $100, which will be sooner than later. We have about twenty years worth of supply in the US from conventional reservoirs. Plenty of natural gas, not much oil left. ANWR has a few billion barrels, the equivalent to three to five years of demand.