Not really. One oil company just gave up some of their Alaska leases on the North Slope because they weren't worth developing at $80 a barrel. If it is not economic to produce, it is neither a reserve nor a resource.
Good point, RightWhale, it’s what I was saying earlier. Many of our “resources” are not easily exploitable. It’s all about building refineries and how we play the market now.
The U.S. will not and cannot achieve energy independence.
Not really. One oil company just gave up some of their Alaska leases on the North Slope because they weren’t worth developing at $80 a barrel. If it is not economic to produce, it is neither a reserve nor a resource.
Exon and Shell said they could produce oil shale oil for $30 to $40 per barrel in the Rockey Mountain news. $50 a barrel on the north slope must be court costs with the wacko left.