Did anyone happen to see the "verify" story on the news last night. Someone on facebook said the USA has 400 yrs of oil reserve in the ground in the continental US to be tapped and pumped.
The Verify report checked with several sources and found the US only has 58 yrs of oil sitting in the ground waiting to be pumped.
That doesn't seem like a long time.
Do not know who quoted it but the number appears to comes from BP. YOU KNOW, AN OIL COMPANY a decade ago.
The world has 53.3 years of oil left
The Motley Fool
june 28, 2009
BP (ticker BP ) has provided an intriguing update to its global oil reserves estimate in the company's latest yearly review of energy statistics. BP raised its reserve estimate by 1.1% to 1,687.9 billion barrels, which is enough oil to last the world 53.3 years at the current production rates. However, there's likely a lot more oil left in the tank beyond what BP sees today.