Pelosi on reducing gas prices

[angelsandair]

From what I read, there's another estimated 30-50 billion barrels of oil in America, an estimated 30 billion MORE in Alaska.... We got enough for the US to last a LONG time.

[Captain Virgil Hilts]

Is it Iran that is the problem or are we lead to believe that Iran is the problem.

Well, Iran is shooting missiles and making threats, I don't know, YOU figure it out.

[Baitman]

From what I read, there's another estimated 30-50 billion barrels of oil in America, an estimated 30 billion MORE in Alaska.... We got enough for the US to last a LONG time.

The US uses just over 20,000,000 barrels per day that = 7,300,000,000 barrels per year . It is staggering but look around in a big city and try and calculate every drop of fuel burnt. We also use it in industry for plastics and so on

At 7.3 billion per year using up the 80 billion in reserve isn't going to take long.

[Mickey1992]

U.S. oil reserves in 2003 were estimated to be 143 billion barrels. These reserves are distributed as follows: Texas, 24 percent; Alaska, 22 percent; California, 17 percent; and the Gulf of Mexico, 14 percent.

http://www.eia.doe.gov/oiaf/aeo/

Baitman is correct.  At the consumption rate of 7.3 billion barrels a year, it will not last long.

[Baitman]

U.S. oil reserves in 2003 were estimated to be 143 billion barrels. These reserves are distributed as follows: Texas, 24 percent; Alaska, 22 percent; California, 17 percent; and the Gulf of Mexico, 14 percent.

http://www.eia.doe.gov/oiaf/aeo/

Really starts to scare me when I look at the big picture. 7.3 billion per year for US alone start doing the math on the world stats adn it will scare you even more. Our dependancy on crude is going to have to change soon.

[WilldCrd]

This might be totally left field and I'm not saying I believe it al but:

about a year ago I was listening to a late night radio talk show, and the guest who was a geologist with a major oil company <shell I think> was talking about how they have found that some oil fields in the gulf that had been pretty much pumped dry of the light sweet crude had somehow managed to REFILL with light sweet crude.
He went on to talk about how there is a growing movement among geologists/scientists that oil "might" be a naturally acuring substance from deep in the planet. He made the argument that with all the staggering amounts of oil we have already pumped and whats still in the ground, "do you think it ALL came from dead dino's and plants?"

Just think, if it was ever PROVEN that it is a natural resource from deep in the earth that continually bubbles up....well you could kiss off the middle east

[Stixx]

Did a search on oil producing microbes and found alot of links to sites explaining how microbes are used to aid in recovering oil, but nothing so far about microbes creating oil with the exception of the following two links.

Methane producing bacteria found in oil fields

http://www.futurepundit.com/archives/002743.html

Rebuilding bacteria to produce oil

http://www.gizmag.com/go/7723/

[Baitman]

about a year ago I was listening to a late night radio talk show, and the guest who was a geologist with a major oil company <shell I think> was talking about how they have found that some oil fields in the gulf that had been pretty much pumped dry of the light sweet crude had somehow managed to REFILL with light sweet crude.
He went on to talk about how there is a growing movement among geologists/scientists that oil "might" be a naturally acuring substance from deep in the planet. He made the argument that with all the staggering amounts of oil we have already pumped and whats still in the ground, "do you think it ALL came from dead dino's and plants?"

Reservoirs are never pumped dry. They are only pumped so low that it becomes unprofitable to try any longer. The way that they might fill again would be from very small reserves flowing into a larger know reserves over time it becomes profitable again to draw oil out. Don't know about oil actually bubbelling up.