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To: All

First of all, that organization is not prominent. Second of all, they are quoting North American oil, not US oil, and that means Canada’s oil sands which has big numbers and leans pretty hard towards heavy constituents — asphalt and diesel, not gasoline.

Including all shale sources projected, US reserves are 68 Billion barrels and frankly, natgas is a more worrisome reality. This 68B is way up from 35B pre shale. Note that shale liquids are only marginally “oil”. 30 yrs ago it would be called condensate. Lots of gasoline, not much diesel.)

It’s easy to have your eyes glaze over on this, but oil is a matter of numbers. 68 Billion barrels is the number and the US burns 20 million barrels/day, or 7.3 billion barrels/year. So no, it’s not 100s of years of consumption. That happened by tossing in Canada’s 168 additional million barrels. Still not 100s. People think math is liberal or conservative. It’s not.

You can get this information yourself from BPs annual Statistical Review of World Energy. It’s a spread sheet and for decades has been the Bible of oil (and natgas).

US natgas reserves, incl shale sources, 12.8 Trillion Cubic Meters. Meters not Feet. This matters.

US production (for consumption, or insane export) 978 billion cubic meters. Or 0.978 Trillion cubic meters. And yes, that means 12 years.

Get the data. Understand it. Don’t read things you like to hear and think it is true.


9 posted on 05/13/2024 7:57:54 PM PDT by Owen (.)
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To: Owen

errr additional **Billion** barrels from Canada


10 posted on 05/13/2024 7:59:23 PM PDT by Owen (.)
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To: Owen

It is thought that Alberta has about 1.4 trillion barrels, even though it is heavier than Saudi oil. It’s also thought that Quebec has more, but they won’t touch it until they can engineer their way out of Canada after taking everything they can from Canada.


11 posted on 05/13/2024 8:01:56 PM PDT by Jonty30 (He hunted a mammoth for me, just because I said I was hungry. He is such a good friend. )
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