Crude Reality

I realize this viewpoint does not represent the majority of the class, but I bring it up not to be a devil advocate but because I think it holds some weight and atleast deserves discussion. Plus the better you understand it, the better you can argue against it (which I obviously welcome).

I would like to follow up my comments about energy independence as it relates to alleviating geo-political tensions and promoting local economy. Let me quickly summarize my point that within the next 50 years or so, as we make the transition to a majority of renewable resources, as we are weaning ourselves off fossil fuels (but still using them nonetheless), the resources we do use should be our own (or atleast a bigger portion than as of current). I would encourage you all to browse the EIA, as there is a buttload of relevant info. Let me direct you to three charts in particular relating to crude oil:

The amount of crude oil we import, by country:
"http://tonto.eia.doe.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0_mbbl_a.htm"

The amount of crude oil USA produces:
"http://tonto.eia.doe.gov/dnav/pet/pet_crd_crpdn_adc_mbbl_a.htm"

The amount of crude oil USA currently has in reserves:
"http://tonto.eia.doe.gov/dnav/pet/pet_crd_pres_a_EPC0_R01_mmbbl_a.htm"
"http://tonto.eia.doe.gov/dnav/pet/hist/rcrr01nus_1a.htm"

As a summary, we annually import about a 5 billion barrels, we produce 2 billion, hence we use 7 billion. We currently have 20 billion in reserves that fluctuates as we use some and find more (but generally decreases since the 70s, see second chart from reserves). So if we use half a billion barrels more domestic crude annually than as of current (i.e. from Alaska), that would be enough to offset all of Saudi Arabia, which is the biggest single country source after Canada and Mexico. Yes, that will deplete our reserve faster, but again, this is in terms of keeping us domestic during our transition period.

Now, comment away!....