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The US has about 30 Billion barrels of proven oil reserves. If assume use no oil imports (US imports about 60% of use currently) and current rate of consumption (oil use in US has recently begun to go down) of about 20.7 Million Barrels a day - US oil proven reserves will be drained in about 4 years. If use current levels of import, the current reserves will last about 10 years. If add in estimated prospective oil reserves, the US has about 130 Billion Barrels (unproven) additional reserves. Of the 130 Billion Barrels, ~ 85 BBls are offshore (~20 BBls in currently off limits areas) and ~45 BBls under land (~10 BBls are in ANWR). The prospective reserves would last at current consumption levels about another 17 years (21 total) with no imports or about another 43 years (53 total) at current import levels. The US also has the largest formation of oil shale in the world, with an estimated 1.5 (some estimates are over 2) Trillion barrels of oil in oil shale in reserve or about twice the reserves of the entire Middle East, but this oil is harder to get. If use 1.5 TBls with no imports, US has oil to last 200 years at current consumption with no imports and nearly 500 years if assume current import levels just from this source.
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Who owns offshore oil?
The oil deposits in US offshore fields are owned by the US federal government. The oil companies acquire a lease or the right to explore and produce from the offshore deposits. These are long term leases. Similarly, international offshore fields belong to the country that has legal right to the coastal waters. They may be lease by the country to private companies for exploration and production, but they may also be developed by the country's national oil company.
How long do waterspouts last?
Waterspouts typically last a few minutes to up to an hour. They are generally short-lived phenomena that form and dissipate quickly.
How long will geothermal power last?
Geothermal power relies on the Earth's natural heat, which is estimated to last as long as the planet exists. This makes it a renewable and sustainable source of energy.
How long can a hurricane last on land?
Typically, hurricanes can weaken quickly once they make landfall due to the lack of warm ocean waters that fuel the storm. However, their impact can still be significant as they can bring heavy rainfall and strong winds inland. Hurricanes can last anywhere from a few hours to a couple of days after making landfall before they dissipate.
How long does a typhoon take to form?
A typhoon typically takes around 5-14 days to form, starting from a cluster of thunderstorms over warm ocean waters until it develops into a full-fledged tropical cyclone with strong winds and heavy rainfall. The exact duration can vary based on various factors like atmospheric conditions and water temperature.
How long does Roger Waters the wall concert last?
Too long.
How long did all the crusades last in total?
from the late 1000s to the mid-1200s
Why did the 8 year war with Iran begin?
A Long History of Territorial Disputes
How long does a Rolfing massage last?
60 to 90 min. usually 10 sessions total.
What issues began the 8 year war with Iran?
A long history of territorial disputes
What is the name of an extremely territorial insectivorous mammal with tiny eyes and a long snout?
Shrew
How long can a garnishment last in mi?
Typically garnishments last as long as the debt remains unpaid. Check the documentation you received from the garnish presenter and you should see your total indebtedness and subtract the payments you have made from it.
What are the conditions for Florida to recognize marriage in international waters?
Florida will recognize marriage in international waters as long as the ceremony was legally conducted.
What do the letters TD mean after someone's name?
Award from the British Territorial Army for long service
The 8 year war with Iraq began over which of the following?
A long history of territorial disputes
What is the name of a Long legged bird that lives at the waters edge?
heron
How long will 13kgs of liquid gas last?
The duration 13kgs of liquid gas will last depends on the rate of usage and the specific application. To calculate how long it will last, you need to know the consumption rate, which is usually measured in kilograms per hour or per day. Once you have this information, you can divide the total weight of 13kgs by the consumption rate to determine how long it will last.
