Oil Myths, Oil Facts

Who’s Responsible for Soaring Oil Prices?

JAMES KUNSTLER WROTE “THE LONG EMERGENCY”, PERHAPS THE DEFINITIVE BOOK ABOUT A FUTURE WITHOUT CHEAP ENERGY…

“We’ve got ourselves in a situation now where world wide demand is permanently outstripping world wide supply…

So, we’re going to look at the conventional wisdom and arguments and try to give you a few facts…


Ok, argument number one – if congress and the environmentalists will only get out of the way and let us drill more, we can be energy independent.

MYTH

OUR CURRENT DOMESTIC RESERVES TOTAL ABOUT 21 BILLION BARRELS OF OIL. ALASKA AND OFFSHORE DRILLING WOULD ADD ABOUT 30 BILLION… FOR A TOTAL OF 51-BILLION BARRELS…

WE BURN 7 BILLION EVERY YEAR… DO THE MATH…

K – it might extend the agony of our problem by a few years, but it doesn’t obviate the need to change our behavior in a comprehensive way…

CBS 19 (video and transcript)