RE:RE:How much oil does the US have left? Chad123 wrote: bigbear4511 wrote: When i look at the Worldometer in terrms of how much oil each country has, it states that the US has 35 billion barrels. Lets say for figures sack they have 45. Back in the 80s they only had 20 billion but thanks to better technology they are able to access the shale oil that was previous undrillable. So if they have 45 billiion barrels left and they are drilling 11 million barrels a day that would remove 4 billion of their reserves every year. This oild is hard to get at and requires constant drilling.. Once drilled, the well is in instance decline and requires another well to be drilled and so on. The states have been drilling for a long time and in terms of size their country is not very big. So will they run out of oil in 10 years? Their reserves are finite and loosing 10% of their inventory every year is huge. It is possible they can find other deposits but at this moment i feel they don't have much time before their asset dimisihes.
And that's where we come in. We have enough for ourselves and lots for our neighbours to the south and even some for South Asia. All we need to do is flush the Turd and set up a new government in Canada and we will be rocking in a few short years.......
A couple of things...
1..back in the 1970s the National Energy Board predicted that Canada had 6 years of oil left and that there was very little that could be exported to the US. Were they wrong? YEP!!!
2....SU has access to huge reserves but they need approval to mine the oil and are in the process of doing that. If there is political resistance to that approval then the oil will just sit there forever and SU and its shareholder will SOL.
The reason I mention these things is that what people think a one point in time about the future most often doesn't work out that way. In my experience it is best to invest with contingencies in mind. Nothing is a slam dunk.