Some oil data

According to the US Department of Energy, US oil production has fallen approximately 40% since 1985, while US consumption has grown more than 30%.  So in real barrels, US oil production is now below five million barrels a day.  It was approximately nine million barrels a day in 1985. 

We have cut our production in half.  And you can see one of the results of this is the price that we are paying for oil-related products today.  At the same time, while in the last 23 years we have cut our production in half, the government has put billions of barrels of domestic oil and natural gas off limits to domestic exploration.  According to federal government estimates, there is enough oil in the areas that we now place off limits, 112 billion barrels to power more than 60 million cars for 60 years without importing a drop.  However, this domestic supply is off limits.

Had President Clinton not vetoed exploration in ANWR in 1995 — oil was $19 a barrel in 1995 — America would currently be receiving over a million barrels a day from Alaska.  Experts estimate that ANWR contains 5.6 to 16 billion barrels of recoverable oil.  The Outer Continental Shelf in the United States contains over 44 billion barrels of oil, and 232 trillion cubic feet of natural gas.  Eighty-five percent of the outer continental shelf is off limits to domestic exploration.  In the Gulf of Mexico, there is enough natural gas to heat 60 million homes for another 160 years. 

Just some very brief and high level informaiton to share.  The information out there about new possible supplies of oil and other energy is vast.  But this is a good start to spur conversation and discussion.  


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