Move over, Saudi Arabia and Russia. America now has more untapped oil than any other country on the planet.
That’s according to a new report from Rystad Energy that estimates the U.S. is sitting on an incredible 264 billion barrels of oil reserves. It includes oil in existing fields, new projects, recent discoveries as well as projections in undiscovered fields.
More than half of America’s untapped oil is unconventional shale oil, according to Rystad. Shale oil is the previously-unreachable crude that, thanks to fracking and new technology, has reshaped the global energy landscape and vaulted the U.S. into the upper echelon of global oil producers.
“This has been a revolution. Ten years ago nobody would have dreamt this would have been the result,” Jarand Rystad, CEO of Rystad Energy, told CNNMoney.
The rest is here: https://money.cnn.com/2016/07/05/investing/us-untapped-oil/index.html
4 thoughts on “Flashback: U.S. has more untapped oil than Saudi Arabia or Russia”
So why are we paying $5 a gallon at the pump? Either they stopped it or gave it all away.
From what I understand they call the shots.
Thanks, Misty. I found and even older story on this…
…but what I haven’t yet found is what’s happened with this “discovery.” Are we extracting? I heard someone on Internet radio say that because of this find we could (for hundreds of years) be totally independent of foreign oil (like Henry always says) but the processing was halted by environmentalists’ protests. Then he went on to say that the environmentalists were probably funded by OPEC itself. What?! But of course, money at the root. I do not understand all the ins and outs, but we are being blocked from our own resources, our own riches, our own independence. Can’t wait ’till we take it all back.
Wow! That would make us like the richest country on planet Earth. Exactly what the elite don’t want now. They are probably trying to hide it’s existence. My only worry is if the drilling would agitate that super volcano in Wyoming.
Reminds me of that seen from the movie, Total Recall where Schwarzenegger says, “the machine can generate enough air for the entire planet but the bastardized won’t turn it on”.