The U.S. now has the largest oil reserves in the world (gallon, middle east)

[Finn_Jarber]

The US oil boom will continue when Saudi Arabia gives up on the price-fixing.

The U.S. now has the largest oil reserves in the world

The United States can now claim to have the largest total recoverable oil reserves in the world, with an estimated 264 billion recoverable barrels, compared with 256 billion barrels for Russia and 212 billion barrels for Saudi Arabia.

[fitzy24]

That's cool and all but there are still millions of Americans who aren't insured properly.

[PedroMartinez]

Originally Posted by fitzy24

That's cool and all but there are still millions of Americans who aren't insured properly.

Didnt the ACA fix that?

[Tall Traveler]

Great news. It's still a lot more expensive to extract than where I am now in the Middle East so the break-even point is higher and the profits lower but this means the ME can't control the price anymore.

[ScottPlake]

Originally Posted by PedroMartinez

Didnt the ACA fix that?

Yes, of course it did. He's talking about illegal immigrants. they deserve insurance too....it's a human right.

[Ghengis]

>>>not to mention the most weapons of mass destruction!...anyone else here seeing a movement developing?

[T-310]

Originally Posted by Finn_Jarber

The US oil boom will continue when Saudi Arabia gives up on the price-fixing.

The U.S. now has the largest oil reserves in the world

The United States can now claim to have the largest total recoverable oil reserves in the world, with an estimated 264 billion recoverable barrels, compared with 256 billion barrels for Russia and 212 billion barrels for Saudi Arabia.

Drill, baby, drill.

[Packard fan]

Originally Posted by Finn_Jarber

The US oil boom will continue when Saudi Arabia gives up on the price-fixing.

The U.S. now has the largest oil reserves in the world

The United States can now claim to have the largest total recoverable oil reserves in the world, with an estimated 264 billion recoverable barrels, compared with 256 billion barrels for Russia and 212 billion barrels for Saudi Arabia.

Better the "infidel" US than Islamist pig central; I'm talking about the Saudi clerics, NOT the regular Saudi people, to be fair.

[2nd trick op]

The survey fails to distinguish with regard to the cost of extracting the proven reserves (the Middle East probably holds a substantial advantage there) or the possibility of undiscovered fields (where Russia probably holds an advantage).

But that point is largely moot; it boils down to the fact that supply and demand (adjusted for costs of production) will determine the allocation of a resource that is nowhere near as "finite" as the Merchants of Doom would like us to believe.

[Mr. In-Between]

Great. When oil hits $400 a barrel, we'll be the Petroleum Kings. But unless you fancy the idea of paying $15 a gallon for gas, just be glad that right now there are still parts of the world where all you have to do is pound a pipe into the ground and hang a bucket from it. When the only oil that's left in the world is the oil that we're sitting on top of, nobody's going to be able to afford to drive.