U.S. oil shale clobbers Saudi reservesJuly 1, 2012
Even among the counter-jihad community, there is a great deal of pessimism and defeatism about the stranglehold that Saudi Arabia and the other Persian Gulf states have on the world oil economy. We routinely hear things like, “every time you fill your gas tank, you’re funding terror.”
But it doesn’t have to be that way. We can out-produce the Saudis if we only had the political will to tap into the resources beneath our feet.
An excerpt from a recent Cato’s Domain post sheds light on the subject, and includes an Institute for Research Energy graph that shows potential U.S. oil shale is nearly eight times larger than Saudi oil reserves!
…If we can sweep the carbon jihad aside this could lead to enormous benefits for the US, ranging from millions of well-paying jobs to strengthened diplomatic clout and a rejuvenated military policy. That reducing imports will affect our policies on both of those foreign policy fronts in the Middle East, for example, needs no elaboration.
We read about the potential in the shale fields for natural gas production, and that is stunning. But shale oil has nearly as large a potential, some on private and a great deal on federally-controlled land. Under Obama’s administration federal lands have been put off-limits for development. Locking that potential away is way beyond foolish: it’s economically, socially and politically criminal. The amount of oil in these shale formations is game-changing not only for the USA but for the world. Just opening up the federal lands NOT recognized as national treasures (think Yellowstone and Yosemite), even under tight and necessary environmental controls, would yield unbelievably positive outcomes.
We are now and will be for the indefinite future a petroleum-based economy, as will every other major economy on the planet. In the last 30 years of carbon jihad the percentage of energy created by “renewables” has actually dropped. It will still be under 11% in 2030. Shutting down O&G production on the theory that we could replace those BTUs with alternative sources is incredibly stupid; progressive’s mindless war on carbon must be ended and replaced with reality-based policies…