Tag Archives: Barrel

News

Government report: US has world’s largest supply of oil, natural gas and coal

5 Comments

Here’s the press release. (H/T Canada Free Press)

Abstract:

Sen. James M. Inhofe (R-Okla.), Ranking Member of the Senate Committee on Environment and Public Works, and Sen. Lisa Murkowski (R-Alaska), Ranking Member of the Senate Energy and Natural Resources Committee, today released an updated government report from the Congressional Research Service (CRS) showing America’s combined recoverable oil, natural gas, and coal endowment is the largest on Earth. America’s recoverable resources are far larger than those of Saudi Arabia (3rd), China (4th), and Canada (6th) combined.  And that’s not including America’s immense oil shale and methane hydrates deposits.

Details:

Oil

CRS offers a more accurate reflection of America’s substantial oil resources.  While America is often depicted as possessing just 2 or 3 percent of the world’s oil – a figure which narrowly relies on America’s proven reserves of just 28 billion barrels – CRS has compiled US government estimates which show that America, the world’s third-largest oil producer, is endowed with 163 billion barrels of recoverable oil. That’s enough oil to maintain America’s current rates of production and replace imports from the Persian Gulf for more than 50 years.

Natural Gas

Further, CRS notes the 2009 assessment from the Potential Gas Committee, which estimates America’s future supply of natural gas is 2,047 trillion cubic feet (TCF) – an increase of more than 25 percent just since the Committee’s 2006 estimate.  At today’s rate of use, this is enough natural gas to meet American demand for 90 years.

Coal

The report also shows that America is number one in coal resources, accounting for more than 28 percent of the world’s coal. Russia, China, and India are in a distant 2nd, 3rd, and 5th, respectively. In fact, CRS cites America’s recoverable coal reserves to be 262 billion short tons. For perspective, the US consumes just 1.2 billion short tons of coal per year.  And though portions of this resource may not be accessible or economically recoverable today, these estimates could ultimately prove to be conservative.  As CRS states: “…U.S. coal resource estimates do not include some potentially massive deposits of coal that exist in northwestern Alaska.  These currently inaccessible coal deposits have been estimated to be more than 3,200 billion short tons of coal.”

Oil Shale

While several pilot projects are underway to prove oil shale’s future commercial viability, the Green River Formation located within Colorado, Wyoming, and Utah contains the equivalent of 6 trillion barrels of oil.  The Department of Energy estimates that, of this 6 trillion, approximately 1.38 trillion barrels are potentially recoverable.  That’s equivalent to more than five times the conventional oil reserves of Saudi Arabia.

Methane Hydrates

Although not yet commercially feasible, methane hydrates, according to the Department of Energy, possess energy content that is “immense … possibly exceeding the combined energy content of all other known fossil fuels.” While estimates vary significantly, the United States Geological Survey (USGS) recently testified that: “the mean in-place gas hydrate resource for the entire United States is estimated to be 320,000 TCF of gas.” For perspective, if just 3% of this resource can be commercialized in the years ahead, at current rates of consumption, that level of supply would be enough to provide America’s natural gas for more than 400 years.

The press release has lots of informative graphs.

The PDF of the full report is here.

Obama keeps blocking energy production at home, and sending taxpayer money (and jobs) to countries in the Middle East, some of who don’t like us very much. What would possess a president to undermine the national security and economy of his own country that way? Why does he want to raise the cost of living for his fellow citizens and send jobs overseas to the Middle East?

News

Obama’s naive foreign policy increases likelihood of war in Middle East

3 Comments

The Wall Street Journal explains.

Excerpt:

Events are fast pushing Israel toward a pre-emptive military strike on Iran’s nuclear facilities, probably by next spring. That strike could well fail. Or it could succeed at the price of oil at $300 a barrel, a Middle East war, and American servicemen caught in between. So why is the Obama administration doing everything it can to speed the war process along?

The article lists various elements of Obama’s weak stance against Iran, then continues:

[…]All this only helps persuade Israel’s skittish leadership that when President Obama calls a nuclear-armed Iran “unacceptable,” he means it approximately in the same way a parent does when fecklessly reprimanding his misbehaving teenager. That impression is strengthened by Mr. Obama’s decision to drop Iran from the agenda when he chairs a meeting of the U.N. Security Council on Sept. 24; by Defense Secretary Robert Gates publicly opposing military strikes on Iran’s nuclear facilities; and by Russia’s announcement that it will not support any further sanctions on Iran.

In sum, the conclusion among Israelis is that the Obama administration won’t lift a finger to stop Iran, much less will the “international community.” So Israel has pursued a different strategy, in effect seeking to goad the U.S. into stopping, or at least delaying, an Israeli attack by imposing stiff sanctions and perhaps even launching military strikes of its own.

How do you think Iran would respond to such an air strike? Their entire land force would be left largely intact. Do you think they are just going to take that and do nothing to retaliate? This is a nightmare.

News

Round-up of news from around the world

Leave a comment
Honduras protesters continue to bash Obama and CNN
Pro-freedom protesters in Honduras defy Obama and CNN

So much foreign policy news!

Iraq

Jason over at The Western Experience has a number of good stories up.

He writes that Iraq is struggling to find foreign investors for its oil fields.

Excerpt:

…the Iraqi government has to decide on how to lure foreign investors and oil firms to setup shop in the many rich oil fields. With modern development, industry and organization Iraq could be a major producer and, potentially, one of the major countries in the world in just a few decades. So far, things haven’t exactly happened in the order many experts and investors hoped. The hang up is, of course, price per barrel. Companies were asking too much for operating in the country in the eyes of the government. Still, others were willing to operate at  loss just to get a foothold in the new market.

It’s funny, because if our war in Iraq were really a war for oil, why is Iraq taking offers to see who will be drilling for all that oil? (The offers are also coming from China, Russia and India, not just the USA)

Egypt

Robert Spenser of Jihad Watch links to this Assist News article about the state of Christian liberty in Egypt.

Excerpt:

Since early 2007 the Egyptian government has been appeasing Muslim fundamentalists by settling matters of sectarian conflict out of court in line with Islamic Sharia law. That prohibits Christians from bringing evidence against Muslims. The government brokers ‘reconciliation’ sessions where the Christians are forced to drop all the charges they are making (arson, looting, assault, kidnap, robbery, criminal damage, rioting, torture, rape, murder) in exchange for Muslim guarantees of ‘peace’.

…Not only is violence against Christian individuals, churches and communities escalating dangerously, but the courts are increasingly subordinating the Constitution to Sharia law. Notably, the courts are refusing to allow Muslims the right to convert. The consequences of this are huge. A woman who is officially registered as a Muslim must by law marry a Muslim and the children of a man officially registered as a Muslim are automatically deemed Muslim by the State. The few who have courageously challenged this have been forced into hiding to preserve their lives.

Please pray for our Christian brothers and sisters in other countries.

Sri Lanka, Iran, Pakistan, Afghanistan, Georgia, etc.

Wow! Michael Totten has a super-long interview with Robert Kaplan, a moderate who writes about the U.S. military and global conflicts in the most far-flung places in the world.

Excerpts:

Kaplan: …The Tamil Tigers had human shields by the tens of thousands, not just by the dozens and hundreds like Al Qaeda. They put people between themselves and the government and say “you have to kill all the people to get to us.” So the government obliged them. The government killed thousands of civilians.

Kaplan: …The Sri Lankan government was elected in 2005 to win the war. And it has done that. Extremely brutally. It’s a government that’s very nationalist Sinhalese Buddhist. These are not the Richard Gere’s “peace and love” Buddhists. These are the real blood and soil Buddhists, where Buddhism is like any other religion when it’s threatened and it’s defending a piece of territory. It can be very brutal.

Wow, this thing was really messy. You have suicide bombing terrorists with human shields on the one side, and a journalist-killing authoritarian government on the other side. There were no good guys. What a mess. These militant Buddhists remind me of the militant nationalist Hindus I talked about before.

And here is a guest post about Russia and Georgia.

Honduras timeline

Here is a pretty useful timeline of events from Atlas Shrugs for the current democratic crisis in Honduras. This article really emphasizes the socialist policies of the wanna-be dictator. The person who provided it is an American investor living in Honduras.

Excerpt:

I have been disgusted at the world reaction to these events. It’s like they only looked at what happened on Sunday morning and ignored what events led to that day. I don’t understand how the removal of Zelaya was anything less than a small country demanding that their country remain democratic. Their constitutional process worked exactly right to remove a rogue president with an agenda that was detrimental to the Honduran constitution and society. While the actions o f June 28 would fit some definitions of a coup, it was certainly a legal and CONSTITUTIONAL coup. There have been several articles written that state that it was a MANDATORY coup. That’s a very difficult concept for most people from the first world to understand, but there are some coups that are good and even required.

I hope that Honduras can bear up under the economic sanctions they are likely to face – and no help from Obama, either. He seems to prefer Chavez and Ahmadinejad.