Who Has More Oil Reserves – Russia, The US, or Saudi Arabia?
“Environmentalists” love to whine about how we are running out of oil and and how we need to start “investing” in alternative energy. That’s a lie.
That’s right, America holds more recoverable oil reserves in Saudi Arabia and Russia, we have the largest oil reserves in the world.
Thanks to hydraulic fracturing – fracking – the U. S. has unlocked vast reserves and for all intents and purposes we are energy independent. Just three years ago the U. S. trailed Russia, Canada, and Saudi Arabia in oil reserves but thanks to recent discoveries in Texas and New Mexico we are now number one.
There has been concern that the cost of production in the U. S. is very high, near $80 a barrel, while the Saudis prices are closer to $10 a barrel. Those concerns are ebbing because in just the last two years costs have been reduced by over half and are now below $40 a barrel and falling.
Thanks to advances in technology – fracking, shale production, and oil sands – the U. S. is expected to maintain our lead in oil reserves.
Please print out 50 copies of this post, roll them up tightly and wrap the role in duct tape. The next time an environmentalist tells you were running out of oil smack him in the head with it.