Oil Guru Destroys All Of The Hype About America's Energy Boom
• Business InsiderNot everyone believes the U.S. is capable of becoming energy independent thanks to its shale oil and gas reserves, as the International Energy Association suggested recently.
A few years ago I heard a factoid on radio that stated 83 million barrels of oil were needed daily world-wide at that time.
There was a huge hooplah in the past year or two over reserves in Canada amounting to 8 billion barrels of oil.
This is 100 days supply at 83million barrells per day.
Even if distribution of this oil is limited to the west (specifically USoA & Canada), that would only make it last a year.
Wow.
DC Treybil