Colorado's collective shale deposits contain somewhere in the neighborhood of 1 trillion barrels of oil. That's almost as much as the entire world's proven oil reserves!
Sentiment: NEGATIVE
There are billions of barrels of oil in the Outer Continental Shelf. There is even more in Alaska. There is enough oil shale in the Rocky Mountain West alone to power America for the next hundred years. The Democrats say all this American energy is off limits.
The U.S. only has 20 billion barrels of oil in reserve. It seems as though there is no more oil around. Venezuela has 300 billion barrels of oil in reserves. Iraq has, like, 150 billion barrels of oil. Iran, close to 300 billion barrels of reserve. Oil for 200 years, of course.
We have been blessed in many respects with the explosion of the development of shale gas resources here in North America. It's both U.S. and in Canada.
If you compare the size of our reserves of Saudi Arabia and the whole Middle East, it's like three times as much as all of that combined and that's just the easily, readily available 1800 billion barrels and there are probably 3 billion barrels that are commercially just under that, available.
We access virtually every producing basin, whether for natural gas or crude oil, in the U.S. and Canada.
We still have billions of barrels in Alaska that sit untapped. There are abundant reserves offshore in the lower 48.
Here in the United States, we have between 250 and 300 years of a coal supply. That is more than the amount of recoverable oil contained in the entire world.
Mexico holds the fifth-largest shale gas reserve in the world, in addition to large deep-water oil reserves and a tremendous potential in renewable energy.
We consume about 25 percent of the world's oil every year, but we only have reserves, including that which has not been pumped, of about 3 percent of the oil reserves in the world.
Shale gas, if left to flourish, could create several hundred thousand more jobs.
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