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Apr 28 2012

We Have Plenty of Oil

Our liberal rulers want to use an artificially imposed shortage of oil to inflict on us a lower standard of living in the name of their antihuman green ideology, as well as to promote government dependency by hamstringing the economy. As Barack Hussein Obama brazenly lies,

“[Y]ou and I both know that with only 2% of the world’s oil reserves, we can’t just drill our way to lower gas prices — not when we consume 20 percent of the world’s oil.”

Meanwhile, back in reality, The American Dream presents us with 10 facts:

#1 Back in 1995, the U.S. Geological Survey told the American people that the Bakken Shale formation in western North Dakota and eastern Montana only held 151 million barrels of oil. Today, government officials are admitting that it holds 4.3 billion barrels of recoverable oil, and some analysts believe that the actual number could be closer to 20 billion barrels of oil.

#2 It is estimated that there are up to 19 billion barrels of recoverable oil deposits in the tar sands of Utah.

#3 It is estimated that there are at least 86 billion barrels of recoverable oil deposits in the Outer Continental Shelf.

#4 It is believed that there are 800 billion barrels of recoverable oil deposits in the Green River formation in Wyoming.

#5 Overall, the United States is sitting on approximately 1.442 trillion barrels of recoverable oil deposits.

#6 According to the Institute of Energy Research, the United States has a 120 year supply of natural gas.

#7 According to the Institute of Energy Research, the United States has a 200 year supply of oil.

#8 According to the Institute of Energy Research, the United States has a 464 year supply of coal.

#9 According to Pastor Lindsey Williams, absolutely gigantic oil fields have been discovered up in Alaska that the American public is not being told about.

#10 Goldman Sachs is predicting that the United States will be the number one oil producing country in the world by the year 2017.

But with the right people in charge, we can have an energy shortage with accompanying crippling prices no matter how vast the resources we are sitting on. The Ukraine — where Obama’s fellow oligarchical collectivist Joseph Stalin engineered a famine that killed millions — is known as the Breadbasket of Europe. As the great countermoonbat Milton Friedman observed, if the federal government took charge of the Sahara Desert, there would soon be a shortage of sand.

obama-liar

On a tip from DaddyOD.



20 Responses to “We Have Plenty of Oil”

  1. Dr. 9 says:

    Even the most obvious lies can become “facts”, when told often enough to weak, gullible, and mindless sheep. Of course, having a highly-biased and very willing MSM to help spread those lies doesn’t hurt.

  2. wingmann says:

    Nice article Dave.Good effort on documentation.

  3. Canis lupus says:

    I could never understand why we would not drill for more oil. If we did, fuel prices would decline and the cost of goods and services would too. Not to mention, the savings that people can benefit from.
    Once, I had a discussion about this with a previous employer. He basically stated that the reason we do not drill is because we are waiting for other oil producing nations to run out, then we will have a monopoly on the oil industry.

  4. Screwy Puppy says:

    This is an awesome video about losing, or not losing, resources.

    http://youtu.be/AcWkN4ngR2Y

    LearnLiberty.org or their YouTube channel are an awesome souce for videos.

  5. chuck in st paul says:

    I’ve said for years that we ought to make a deal with the Russians.

    We each get our oil/gas fields prepped for best production, send out exploratory drilling all over the land, and then send in Spetsnaz and SpecOps troops to drop tactical dirty nukes into every towelhead oil supply and light them off. Then dare anyone in the rest of the world with oil to act stupid.

  6. Sinister66 says:

    Considering we refine more fuels then we use only to have the remaining sold to other countries, how would you convince a company like EXXON to increase oil drilling to the point of drastically lowering oil prices when they have seen a 59% increase in profits thanks to the increased cost of oil?

    If we increase production, whats to stop other oil producing nation from cutting back their production and keeping oil prices high? Cant really threaten to stop buying their oil since nations like China are waiting to buy up what we dont.

  7. Sam Adams says:

    Sinister66 says:
    April 28, 2012 at 10:54 am

    Considering we refine more fuels then we use only to have the remaining sold to other countries, how would you convince a company like EXXON to increase oil drilling to the point of drastically lowering oil prices when they have seen a 59% increase in profits thanks to the increased cost of oil?

    If we increase production, whats to stop other oil producing nation from cutting back their production and keeping oil prices high? Cant really threaten to stop buying their oil since nations like China are waiting to buy up what we dont.
    ______________

    The free market works when it is allowed to work. Independents keep drilling wells, despite what the oil giants may want. It is only central planners who believe that the oil market can/should be managed.

    Keep in mind that Saudia Arabia killed the alternative oil industry in the early 1980’s by dropping the price of crude, because they believed the US was serious in developing its own resources. It can/will happen again. World oil prices will drop when we:

    1. Stop inflating the supply of dollars.
    2. Start getting serious about developing our own resources.

  8. Sam Adams says:

    How does Obama keep getting away with his lies?

    Simple. Leftists believe that we must decrease our use of “fossil fuels,” and continue to indoctrinate our kids and spread this message in the media. We even have folks here spread “peak oil” theories. It is both silly and sad.

  9. Bob Roberts says:

    It might surprise some of you to hear that I would actually like us to move away from using fossil fuels – but you’ll be relieved to hear that I’m a strong backer of nuclear and hydroelectric perhaps. The reason is simple: We have other, better uses for petroleum, for instance, as it is best used as a feedstock for various chemicals used to make our lives much better than as heating oil, for instance.

    Now that’s not to say I don’t believe in gasoline or jet fuel – I do – but I also believe that if we wind up making a breakthrough in fusion research, AT THAT TIME it may be wise to think about putting more electric vehicles on the road if and only if we get better battery technology that allows for denser energy storage and rapid recharge rates. Same goes for solar – if and only if we get much cheaper, more efficient solar cells, it would be wise to start relying more on solar.

    You see, unlike moonbats, I am able to see that even what might be a bad idea now has some potential at some point. For instance, distributed solar WILL be a good idea as more progress is made in the field with regards to cost and efficiency. Where moonbats and I agree is that we SHOULD put money into REASONABLE research efforts to come up with better, cheaper solar cells. Where moonbats and Obama go wrong is they reward political supporters with massive taxpayer backed loans to be used to promote technologies which are not mature, not profitable or already saturated by low wage/government subsidized efforts in Europe and Asia. I think solar is a great idea and that it will soon be time that we started putting cheaper, more efficient solar panels on roofs as part of every new home – it’s just that we’re not quite there yet so throwing money at solar is STUPID right now, as Solyndra and other failures prove. Sometimes solar panels end up costing more than they give back in the long run – that makes them foolish. It won’t always be so, but it is now.

  10. Bob Roberts says:

    Sinister66 says: April 28, 2012 at 10:54 am
    ——————
    What the left does not understand, what moonbats have their panties in a wad over, is that there is nothing wrong with the capitalist system as far as selling your products to the highest bidder goes. It is fair and reasonable to seek the most return for your efforts. There is nothing wrong or criminal with that. The lone exception I can think of is price gouging during an emergency – for instance, were I to head into a disaster area with food and water and refuse to distribute it unless I was paid sums vastly greater than the products were worth, that would be wrong. That’s not to say I should not receive reasonable compensation, in the form of a somewhat greater price than normal, for making the effort and paying the costs of getting the stuff there & distributed to those who need it. I’m speaking of the difference between a reasonable return and ridiculous prices based on the fact people are in trouble.

    If other countries will pay a slightly higher rate for our refined products then the companies that produce those products have a right to sell them at that rate to them. It is because of Democrats like & including Obama that we cannot produce enough oil to meet demands – because of their efforts to make recovery of our oil off limits – and that we cannot refine enough oil to give us the products we want and need at prices that are reasonable – due to their efforts to punish companies that run refineries and such along with their efforts to make it uneconomical and even, frankly, dangerous or impossible to refine crude.

  11. Bob Roberts says:

    Canis lupus says: April 28, 2012 at 9:39 am
    ————
    We aren’t drilling because Democrats have been saying, for 30 years now, that we won’t see any extra oil for 10 years even if we do drill here, drill now. It would make sense except they’ve been saying it for three times as long as that decade they keep talking about.

    We aren’t drilling because Democrats have made the process of actually starting a well too difficult and expensive, with their massive and overlapping federal levels of control, such that producers will get approval from all but one federal agency then that one will hold them up and even make them wind up having to start the process of submitting for approval all over again.

    We aren’t drilling because both Democrats in Congress and in the White House put into law firm blockades to exploration and production. Now you may remember Bush rescinded the Executive Order that the Democrats had enacted to create an executive branch impediment to energy freedom and security. The leftist press has not reported, as far as I know (if they did, they did so quietly) that Obama has re-imposed it. I suspect he’s waiting to do that until he gets the bad news in November then, just like Clinton, he’s got a huge backlog of ridiculous executive orders he’s going to sign. In fact I’ll go out on a limb and suggest that he will set a new record with lame duck executive orders once he gets the bad news in November.

  12. dan says:

    Thanks for compiling these facts ,Dave…and nice find Daddy OD….we’d be swimming in oil if we didn’t pump and burn. People don’t realize that the tar-balls on the beach are mostly from natural ocean-bed seepage.

  13. Sinister66 says:

    Bob Roberts says:

    “What the left does not understand, what moonbats have their panties in a wad over, is that there is nothing wrong with the capitalist system as far as selling your products to the highest bidder goes. It is fair and reasonable to seek the most return for your efforts.”

    And based on that logic when it comes to oil, no one really has a reason to bitch since the oil producers are just seeking the most from their efforts. Its not like people would stop buying gasoline if it all of the sudden went to $6.00+ tomorrow.

    Still dont except the “its the democrats and the liberals fault” nonsence. I think its the democrats,republicans, and oil companies all in bed with each other.

  14. LarryG says:

    The Rothschild criminal organization(The FED) is responsible for our money disasters which directly influence the price of oil when using U.S.dollars. Weak dollar, high prices. As for oil supplies, we are afloat in oil with no prospect of running out for years and years. Green energy is a rip-off designed to drain money out of our economy and really doesn’t have much to do with oil, anyway. Electric cars are a miserable failure entirely.

    Prof. Terry Lovell on oil
    http://tinyurl.com/3f7tqc7

    Google green losses
    http://tinyurl.com/859a3jk

    Spanish fly – the money, that is
    http://tinyurl.com/7y967hr

  15. LarryG says:

    One more thought:

    Premeditated looting
    http://tinyurl.com/6osrx89

  16. Festivus says:

    Sinister, do you think releasing some of the Strategic Petroleum Reserve would be a good idea to help control prices?

  17. Ghost of FA Hayek says:

    Considering we refine more fuels then we use only to have the remaining sold to other countries, how would you convince a company like EXXON to increase oil drilling to the point of drastically lowering oil prices when they have seen a 59% increase in profits thanks to the increased cost of oil?
    Sinister
    Exxon is part of the free market
    But who controls the vast vast majority of oil reserves ?
    http://online.wsj.com/article/SB10001424052748704852004575258541875590852.html
    So may we change that to “how do we convince the state to increase oil drilling ?
    And if the free market did in fact control the worlds oil reserves, would we even be having this discussion ?
    Lets put it this way, Is there a shortage of goods on Walmart’s shelves ?
    How about store shelves in, say
    Venezuela ?
    http://lezgetreal.com/2012/04/venezuela-suffering-food-shortages/

  18. dan says:

    would I be amiss if I didn’t point out that capitalism is essential for free-trade and free-market….otherwise we’d be reduced to barter

  19. […] America has an untold wealth of oil and gas — hundreds of years worth, in fact — is an understatement: Our liberal rulers want to use an artificially imposed shortage of oil to inflict on us a lower […]

  20. […] [We Have Plenty of Oil] […]


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