do these 5 locations hold the keys to american energy independence?
TRANSCRIPT
Looking at the numbers
In 2011, total U.S. proven oil reserves grew by 15% to 29 billion barrels of oil.
Looking at the numbers
Meanwhile, 2011 U.S. proven natural gas reserves grew by 9.8% to 348.8 trillion cubic feet.
Looking at the numbersBeyond that, there are billions of barrels of oil and
trillions of cubic feet of natural gas that are unproven but could one day be discovered and produced.
Photo credit: ConocoPhillips
Looking at the numbers
Some of those potential reserves are currently off limits, for a variety of reasons.
Photo credit: Flickr/Damian Gadal
Looking at the numbers
In fact, 175 billion barrels of oil equivalent exist on federal lands. However, 30% is currently off limits.
Source: CBO
Arctic National Wildlife Refuge
• What’s at stake: Up to 10 billion barrels of recoverable oil
• What’s the holdup: Congressional approval
Photo credit: Madhav Pai
Atlantic Coast
• What’s at stake: 3.3 billion barrels of oil and 31.3 trillion cubic feet of natural gas
• What’s the holdup: Drilling currently banned through 2017
Photo credit: Flickr/dok1
Pacific Coast
• What’s at stake: 12 billion barrels of oil equivalent reserves
• What’s the holdup: Long-term ban on leasing new acreage
Photo credit: Jim Sneddon
Eastern Gulf of Mexico
• What’s at stake: 8 billion barrels of oil equivalent reserves
• What’s the holdup: Long-standing federal and state restrictions
Photo credit: Flickr/colros
New York Marcellus Shale
• What’s at stake: Several trillion cubic feet of natural gas
• What’s the holdup: 5-year moratorium on hydraulic fracturing
Photo credit: Flickr/Nicholas A. Tonelli
Drill, baby, drill?
Opening up these five areas could allow the U.S. to become OPEC’s worst
nightmare.