Tuesday, July 23, 2024
Hawai'i Free Press

Current Articles | Archives

Tuesday, August 20, 2013
U.S. Oil Reserves Reach Highest Level in 28 Years
By NCPA @ 1:30 PM :: 3096 Views :: Energy

U.S. Oil Reserves Reach Highest Level in 28 Years

NCPA August 20, 2013

U.S. proven reserves of crude oil and lease condensate totaled 29.5 billion barrels in 2011, a 15 percent increase from the previous year and the highest level since 1985, according to a new report from the Energy Information Administration (EIA). Crude oil proven reserves alone totaled 26.5 billion barrels, a 14 percent increase from 2010, says the Washington Examiner.

  • Liquid natural gas proven reserves (which contain methane as well as ethane and butane) also increased in 2011, up to 348.8 trillion cubic feet.
  • That's a 10 percent increase from 2010.
  • Dry natural gas proven reserves (which is just methane) increased 10 percent as well, to 334 trillion cubic feet.

President Obama's frequently repeated claim that the United States only has 2 percent of the world's oil reserves is misleading.

  • While the United States has only 2 percent of the world's proven oil reserves, it has more total recoverable oil than the rest of the world's proven reserves combined.
  • That means the United States can and should be energy independent, regardless of what happens with alternative sources like wind and solar.

But thanks to regulations and world events, it is becoming far more expensive to produce oil, according to EIA. And while oil reserves are up, production on federal lands is down, and has been falling ever since Obama took office. The increased production comes mostly on private lands not subject to much of the regulatory burdens associated with public land.

Source: Ashe Schow, "U.S. Oil Reserves Reach Highest Level in 28 Years," Washington Examiner, August 14, 2013.

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii Military History

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Together

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

July 4 in Hawaii

Land and Power in Hawaii

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

MentalIllnessPolicy.org

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Parents Org Hawaii

NFIB Hawaii News

NRA-ILA Hawaii

Obookiah

OHA Lies

Opt Out Today

Patients Rights Council Hawaii

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

RailRipoff.com

Rental by Owner Awareness Assn

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

School Choice in Hawaii

SenatorFong.com

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii