U.S. Has 60 Times More Oil Than Obama Claims

When he was running for the Oval Office four years ago amid $4-a-gallon gasoline prices, then-Sen. Barack Obama dismissed the idea of expanded oil production as a way to relieve the pain at the pump.

“Even if you opened up every square inch of our land and our coasts to drilling,” he said. “America still has only 3% of the world’s oil reserves.” Which meant, he said, that the U.S. couldn’t affect global oil prices.

It’s the same rhetoric President Obama is using now, as gas prices hit $4 again, except now he puts the figure at 2%.

“With only 2% of the world’s oil reserves, we can’t just drill our way to lower gas prices,” he said. “Not when we consume 20% of the world’s oil.”

The claim makes it appear as though the U.S. is an oil-barren nation, perpetually dependent on foreign oil and high prices unless we can cut our own use and develop alternative energy sources like algae.

U.S. Awash In Oil

But the figure Obama uses — proved oil reserves — vastly undercounts how much oil the U.S. actually contains. In fact, far from being oil-poor, the country is awash in vast quantities — enough to meet all the country’s oil needs for hundreds of years.

The U.S. has 22.3 billion barrels of proved reserves, a little less than 2% of the entire world’s proved reserves, according to the Energy Information Administration. But as the EIA explains, proved reserves “are a small subset of recoverable resources,” because they only count oil that companies are currently drilling for in existing fields.

When you look at the whole picture, it turns out that there are vast supplies of oil in the U.S., according to various government reports. Among them:

At least 86 billion barrels of oil in the Outer Continental Shelf yet to be discovered, according to the government’s Bureau of Ocean Energy Management.

About 24 billion barrels in shale deposits in the lower 48 states, according to EIA.

Up to 2 billion barrels of oil in shale deposits in Alaska’s North Slope, says the U.S. Geological Survey.

Up to 12 billion barrels in ANWR, according to the USGS.

As much as 19 billion barrels in the Utah tar sands, according to the Bureau of Land Management.

Then, there’s the massive Green River Formation in Wyoming, which according to the USGS contains a stunning 1.4 trillion barrels of oil shale — a type of oil released from sedimentary rock after it’s heated.

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Einstein Flunked Math: The Story and The Truth

The story we heard:

Motivational speakers love to tell this tale, inspiring underachievers with the story of this German kid who was just like you! Despite his sincerest efforts he could never manage to do well in his math exams, and struggled desperately with physics while working as a lowly patent clerk.

The truth:

Well, no you can’t. As it turns out, Einstein was a mathematical prodigy, and before he was 12, he was already better at arithmetic and calculus than you are now. Einstein was in fact so smart that he believed school was holding him back, and his parents purchased advanced textbooks for him to study from. Not only did he pass math with flying colors, it’s entirely possible that he was actually teaching the class by the end of semester.

The idea that Einstein did badly at school is thought to have originated with a a 1935 Ripley’s Believe it or Not! trivia column.


Not!

There’s actually a good reason why it’s a bad idea to include Robert Ripley among the references in your advanced university thesis. The famous bizarre trivia “expert” never cited his sources, and the various “facts” he presented throughout his career were an amalgamation of things he thought he read somewhere or heard from somebody. The feature’s title probably should have been: Believe it or Not! I Get Paid Either Way.

When he was first shown this supposed expose of his early life, Einstein allegedly just laughed, and probably went on to solve another 12 mysteries of quantum physics before dinner. By the time he finally kicked the bucket in 1955, it’s entirely possible that “failure” was the one concept that Albert Einstein had never managed to master.

Of course, this just reaffirms what we have always suspected, deep down: success really is decided at birth, and your life will never be better than it is right now. Sorry about that.

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