This article was coauthored by Jared Barber
Fuel prices got you down? Need a job? Well, prepare to unlearn everything you’ve learned about domestic energy production. Don’t ever let another green “warmer” tell you, “We can’t drill our way out of this mess.” That’s a lie.
Contrary to environmentalist talking points, we know that by conservative estimates, the United States enjoys three times the oil reserves of Saudi Arabia. Additionally, we have enough natural gas reserves to last nearly a century. Let that sink in.
Developing these resources could create nearly a million jobs and pump revenue into a desperately deflated economy. Imagine an America no longer forced to rely for our key energy supplies upon those who would just as soon see us dead.
If President Obama and the alarmist green lobby would simply get out of the way, we even might use our wealth of resources as a bridge to cleaner, renewable energy sources, creating jobs and boosting the economy along the way. Everyone wins.
Consider that according to the U.S. Department of Energy, there are as many as 1.8 trillion recoverable barrels of oil in the Green River Formation in Utah, Colorado and Wyoming alone. This is in the form of oil shale - organic-rich rock from which oil and gas can be extracted.
A more conservative estimate by the Rand Corp. puts it at 800 billion barrels. To put this in perspective, the United States has 75 percent of the world’s oil shale, and those 800 billion barrels represent more than three times the proven reserves of Saudi Arabia.
The Rand study, conducted in 2005, predates recent advances in shale-oil extraction, including horizontal drilling and hydraulic fracturing (fracking). These are revolutionizing oil and gas production.
Environmentalist naysayers simply have it wrong. It won’t take decades to tap this oil. In fact, we can produce enough oil to free ourselves entirely from foreign oil imports in the next 10 years. The Organization of Petroleum Exporting Countries (OPEC) supplies more than a third of our oil. Why? We have all we need and more.
Yet Mr. Obama fatalistically projects that via a combination of natural gas use and oil drilling, we can only reduce our foreign oil imports by one-third by 2025. In reality, we can reduce them by half in just five years.
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