Obama's Lies Vs Reality: America Has 60 Times More Oil Than Obama Tells Americans

By Susan Duclos


When Obama was trying to get elected and gas prices were at $4 a gallon, he used to say "Even if you opened up every square inch of our land and our coasts to drilling, America still has only 3% of the world's oil reserves."

Now, Obama claims "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% of the world's oil."

Investors Business Daily, using figures from the Energy Information Administration, Department of Energy, Rand Corporation, U.S. Geological Survey, Bureau of Land Management, and the Institute for Energy Research, provides data that directly contradicts Barack Obama's claims to the American people.

What America really has:

• The U.S. has 22.3 billion barrels of proved reserves, a little less than 2% of the entire world's proved reserves, according to the Energy Information Administration. But as the EIA explains, proved reserves "are a small subset of recoverable resources," because they only count oil that companies are currently drilling for in existing fields.

• At least 86 billion barrels of oil in the Outer Continental Shelf yet to be discovered, according to the government's Bureau of Ocean Energy Management.

• About 24 billion barrels in shale deposits in the lower 48 states, according to EIA.

• Up to 2 billion barrels of oil in shale deposits in Alaska's North Slope, says the U.S. Geological Survey.

• Up to 12 billion barrels in ANWR, according to the USGS.

• As much as 19 billion barrels in the Utah tar sands, according to the Bureau of Land Management.

• 1.4 trillion barrels of oil shale in the Green River Formation in Wyoming, according to USGS.

• A separate Rand Corp. study found that about 800 billion barrels of oil shale in Wyoming and neighboring states is "technically recoverable," which means it could be extracted using existing technology. That's more than triple the known reserves in Saudi Arabia.

Click image to enlarge

The conclusion:

All told, the U.S. has access to 400 billion barrels of crude that could be recovered using existing drilling technologies, according to a 2006 Energy Department report.

When you include oil shale, the U.S. has 1.4 trillion barrels of technically recoverable oil, according to the Institute for Energy Research, enough to meet all U.S. oil needs for about the next 200 years, without any imports.

When all is said and done, it comes down to politics preventing us from utilizing all of our own oil supply and it is summed up eloquently by Dan Kish, senior vice president for policy at the Institute for Energy Research who says "We've embargoed our own supplies."

A sitting president has access to all this data, yet Obama continues to make claims that are demonstratively false every time he speaks to the issue.

When Obama and liberals are presented with the facts and figures they fall back on the argument that nothing will help in the short term, which is an argument they have been making for years, yet we would be years closer to the solution if we had opened our resources up and delaying doing so will continue to delay becoming energy independent.

In a recent Washington Post-ABC News Poll the highest level of disapproval of Barack Obama out of six key issues asked about, was his job performance on gas prices to which 65 percent of Americans either somewhat or strongly disapproved of his handling of the issue.

Obama is aware of how gas prices and his handling of the issue is harming his reelection chances so he is stumping all over the place and using his 2% line, but the public is not buying his excuses, explanations, justifications or outright lies.

There is 60 times more resources in America than Obama is admitting to and that is a conservative estimate because as the original IBD article explains:

And even this number could be low, since such estimates tend to go up over time.

Back in 1995, for example, the USGS figured there were 151 million barrels of oil in North Dakota's Bakken formation. In 2008, it upped that estimate to 3 billion barrels to 4.3 billion barrels — a 25-fold increase. Now, some oil analysts say there could be as much as 20 billion barrels there.

And USGS in 2002 quadrupled its oil estimate in Alaska's National Petroleum Reserve.

Obama can continue to lie to the American public but the facts and data are out there and they directly contradict those lies.

Obama To The American People:

By Findalis of Monkey in the Middle

F**k You!

Once again the Obama regime fails to provide sound energy and job programs.  Instead of looking to our neighbor to the north, Canada and their oil sands for some energy independence (From Muslim oil), he will be cancelling the Keystone Pipeline.  A project that will bring 100,000 jobs (20,000 Shovel-ready.).

The State Department will announce the decision on Keystone XL pipeline is "no," as early as Wednesday, an industry source told Fox News, suggesting that the department will say 60 days is inadequate time to do the required environmental impact assessment on the path of the coveted pipeline.

For three years, the State Department has been reviewing the initial proposal to run a pipeline from Canada down to Texas through a sensitive Nebraska aquifer -- authority it has because of the transnational path the route takes. The pipeline had been through several other federal, state and local approvals, but the department backed away from signing off on the plan last year after environmentalists complained.

Industry workers and Republicans contend the project would create thousands of jobs, and Canada's prime minister has warned if the U.S. can't get on board, the North American nation will look to team with China.

"Unfortunately Prime Minister Harper of Canada just this week said because of the volatile indecisiveness on the part of this president, that they feel they are being held hostage and they will take their energy elsewhere specifically to Asia and China," Jack Gerard, president and CEO of the American Petroleum Institute, told Fox News Radio.

In December, Congress attached to the payroll tax cut a deadline of 60 days for the State Department to determine approval for an alternative route. A spokesman for House Speaker John Boehner pointed out that the legislation doesn't permit the State Department to reject the plan, only President Obama. The language says if he rejects the pipeline, Obama must then issue a report to Congress "that provides a justification for determination, including consideration of economic, employment, energy security, foreign policy, trade and environmental factors."

On Tuesday, Obama's own jobs council suggested that it agrees with the pipeline concept. While not specifically mentioning Keystone in a report out Tuesday about improving competitiveness, the council said that when it comes to energy projects in general, the government needs to "expeditiously, though cautiously, move forward on projects that can support hundreds of thousands of jobs."

"We think this all-in energy strategy can create significant economic growths and significant job creation," said Lewis Hay, NextEra Energy CEO and a member of the president's job council.

Obama has noted his environmental concerns when it comes to energy exploration but insisted Tuesday that a balance could be found.

"I think the recommendations are sound. We see enormous potential in production of traditional fossil fuels," he said without mentioning Keystone.

As oil prices rose Wednesday on fresh signs the U.S. economy was improving, which could lead to stronger demand for gasoline and other energy products, the Natural Resources Defense Council, an environmental group, argued that the pipeline doesn't make the U.S. anymore energy secure just because it would get oil from a close neighbor and friend.

Instead of carrying common crude oil, the Keystone XL pipeline would carry thick, toxic bitumen for refining in the Gulf states, effectively transporting pollution from Canada to the United States," reads the NRDC report..

"It is not in the national interest to lock the United States into supporting an expensive and dirty form of oil for many years to come. Also, additional capacity for tar sands oil perpetuates America's addiction to oil, and undermines the clean energy alternatives that would bring genuine energy security," the NRDC report continues.

But Gerard said the president's refusal to approve the pipeline is a "clear abdication of leadership." House Speaker John Boehner also accused the president of trying to put off a politically difficult decision until after the election.

"This is not good for our country," Boehner said. "The president wants to put this off until it's convenient for him to make a decision. ... The president's got an opportunity to create 100,000 new jobs almost immediately. The president should say yes."

Source

Barack Hussein Obama has given into the extreme Environmental Moonbats.  These are the kooks that want the world to go back to the time we lived without electricity, modern medicine, cars, etc...  And Sheik Obama agrees with them.  But instead of Sheik Obama assuming the blame on this disastrous decision, he will now be able to blame the State Department (Hillary Clinton) for the decision.  Just like he tries to do every time.