The US produces about 5 million barrels of crude a day, and imports about 12 million
or About 21 million barrels of petroleum total a day and about half of that is refined into gasoline !
I was listening to Rush Limbaugh at lunch today, and he mentioned that Ms. Nancy Pelosi (D, CA) was castigating the President for failing to release any of the "700 million barrels" of oil in the Strategic Petroleum Reserve (our emergency supply).
Guess what? Nancy has been preventing the production of a lot more than 700 million barrels of our oil, and she has been doing it for years.
Take a look here:
"Unproved reserves are estimated to be 1,316 million barrels of oil and 922 billion cubic feet of gas, in 25 fields."
That's ONE BILLION, THREE HUNDRED AND SIXTEEN MILLION barrels that Ms. Pelosi (and her fellow Democrats, with the meager help of a few spineless California RINOs) is keeping off the US market. That's nearly TWICE the amount she accuses the President of keeping off the market.
(By the way, one of the fields Ms. Pelosi is personally preventing from producing gasoline and other products for the US market is a "giant oil field," with over 500 million barrels just by itself:
Of course, maybe a bunch of Pelosi's offshore oil has magically disappeared. A more recent report ( http://www.mms.gov/omm/pacific/offshore/2007-012.pdf ) states that:
"Un*proved reserves are estimated to be 1,166 million barrels of oil and 490 billion cubic feet of gas, in 12 fields."
That's still a LOT more than Pelosi's hypocritical "700 million" figure. Shame on you, Nancy: we're not all Democrats out here, so you shouldn't assume that we're all idiots.
As for the decrease in unproved reserves and number of discovered fields - apparently the MMS changed their 'discovery' criteria. But with oil at $100 plus per barrel (and I'm obviously being generous), the 'old' reports noting that 38 oil and gas fields had been discovered are no doubt much more accurate than the 'new' 25 field report.
(Please also note, the "new" report that is supposedly limited to 25 fields, uses the same map [on page 8] showing 38 - not 25, but 38 - previously discovered fields that the earlier reports used. How nice is that? Bottomline: the fields are there, and the oil is there. The report dates to 2007 [after Ms. Pelosi proved that the 'Peter Principle' is in fact true], so I suspect Ms. Pelosi somehow 'dissappeared' 13 previously discovered, publicly-owned oil fields, just to make her wacko-anti-American-California-environmental-extremist supporters happy.)
Which simply highlights the fact that the federal government (primarily the Democrat-controlled Pelosi-Reid Congress) is literally hiding previously discovered American energy resources from the American people...