Sunday, May 13, 2012

We are still swimming in oil

Back in March, I posted about a ridiculously innacurate claim by President Obama that the United States is oil-poor.  The U.S. Energy Information Administration, however, reported back in 2009 how we are awash in crude oil and natural gas.  A second government agency, the General Accountability Office reported to Congress that "Recoverable Oil in Colorado, Utah, Wyoming 'About Equal to Entire World’s Proven Oil Reserves'". Apparently these memos keep getting lost somewhere between these independent agencies and the President's desk.

Note also that the bulk of these oil reserves lie under Federal land, which has increasingly been placed off limits for oil and gas exploration.  Remember all of this the next time you are told that there is nothing the President can do about gas prices, or that the administration is choosing "all of the above" on energy.