Moore: Oil, America's Inexhaustible Resource

Discussion in 'Political Issues' started by Acujeff, Sep 1, 2015.

  1. Acujeff

    Acujeff

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    “The United States of America cannot afford to bet our long-term prosperity, our long-term security on a resource that will eventually run out, and even before it runs out will get more and more expensive to extract from the ground.” —Barack Obama, 2011.

    In August 1859 on the eve of the Civil War, Col. Edwin Laurentine Drake completed the first commercial oil well in the United States on Oil Creek just outside of Titusville, Pa. Over the next century and a half, oil and gas companies have extracted tens of billions of barrels of oil from the ground from California to New York and nearly everywhere in between.

    During that time period, one thing has been constant: Doomsayers and declinists have predicted that we would soon drill the last barrel of oil. Famously in the 1920s, the U.S. Department of Interior projected less than a few decades' worth of recoverable oil in the United States. Jimmy Carter declared in 1980 that by 2000 we’d be nearly out of oil — running on empty.

    Last month, the Department of Energy reported that the U.S. hit a new energy milestone: We produced 9.52 million barrels a day. That was very close to the highest output level in recorded history. So much for running out.

    The experts at the Institute for Energy Research recently published an inventory of American energy given current technological capabilities. Their research shows that we have 500 years worth of coal and natural gas and at least 200 years worth of oil.

    The reason we never run out of “finite” resources is that human ingenuity runs forward at a far faster pace than the rate we use up oil, gas or food. The shale oil and gas revolution — thanks to fracking technologies — nearly tripled overnight our oil and gas reserves. We now produce three times as much food with one-third as much manpower at one-third the cost than we did in 1950.

    There are high costs to false fears. President Obama has many times justified the $100 billion we’ve wasted on renewable energy subsidies by the claim that we’re running out of oil. Many of the same Malthusians who told us we were running out of oil and food are the intellectual giants behind the global warming industry. These are the ones who say that the debate is over on global warming, that they can’t possibly be wrong, that the science is settled and that those who question their religious-like conviction have been bought off by the Koch brothers or big oil. Given their abysmal track record, is it asking too much of them to consider that they might just be wrong?

    Full story at:
    http://patriotpost.us/opinion/37325
     
    nursetim likes this.
  2. stevelyn

    stevelyn NRA Life Member

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    Two very good books on the subject that are very enlightening. Black Gold Stranglehold: The Myth of Scarcity and Oil Politics by Dr. Jerome Corsi Ph.D.

    The other is The Prize: The Epic Quest for Oil, Money & Power by Daniel Yergin. The Prize is also available as a video documentary.
     

  3. jeanderson

    jeanderson Making America great again! Platinum Member

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    Unfortunately, human ingenuity is on a collision course with human stupidity in this country. We're about to shift to using wind and solar to meet our energy demands. While I'm not against wind or solar, we risk having more of our base electric load serviced by sources that are very susceptible to short-term weather variations. The result will be blackouts and people suffering during times of extreme heat or cold, all while we sit on hundreds of years worth coal and oil.
     
  4. fastbolt

    fastbolt

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    The deep earth replenishment theory of oil "production" doesn't seem to be going away like some folks might wish, either.
     
  5. IamtheNRA

    IamtheNRA

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    We have plenty of coal, oil, and natural gas.
    After that, nukes, both thorium and uranium.
    After that, fusion.
    We're never going to "run out" of energy, folks.
    R-E-L-A-X.
     
  6. GoFasterrrr

    GoFasterrrr

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    I live 40 miles from the Worlds Largest Wind Farm and all of that electricity goes straight to the West Coast. Why?
     
  7. porschedog

    porschedog

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    We are more likely to run out of creamed corn than we are to run out of oil.