The US Is Sitting On A 200-Year Supply Of Oil
Rob Wile
Mar. 19, 2012
President Obama has said the U.S. possesses just 3 percent of the world’s oil reserves, or about 22.3 billion barrels, writes Investor’s Business Daily’s John Merline.
However, this figure represents just proved reserves
But one analyst believes he could be off by almost a trillion.
According to the Institute for Energy Research’s calculations, the U.S. actually sits on 1.442 trillion barrels of recoverable deposits.
Thats over 60 times the amount we usually hear about.
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