Wednesday, August 27, 2008

The Latest Deception From Slim Pickins

In his latest commercial, Slim Pickins states:

“Did you know America… only has
3% of the world’s oil reserves?”
That is not a lie, but it IS a MASSIVELY EGREGIOUS DECEPTION!

When one refers to “reserves” that generally translates to “proven reserves” (which can only be “proven” once Congress allows energy companies to drill where the geological surveys say there is oil to be found).

Pickens MAY (or may not) have included estimates from ANWR in his 3% figure. Since the commercial does not cite a source (an egregious omission in itself), it’s hard to know. There are several sources to choose from and each varies slightly from the other.

What we know for certain is that Pickens absolutely, positively did NOT include estimates from currently forbidden areas in the Outer Continental Shelf or forbidden areas where Oil Shale deposits are found. Neither did he include the latest estimates from the Bakken Formation or the potentials from Coal Liquefaction.

Each of the above estimates are included in the following chart.
Click the chart to enlarge it.
Click here to further explore the information in the chart.
Click the chart to enlarge it

Readers can readily download the “proven reserve” figures from the EIA via this spreadsheet downloaded from this page.

Again, note that the figures from this EIA spreadsheet represent only the proven reserves and do not include the estimates of what could be recovered if the Dems in Congress would only allow production in currently forbidden areas.

Comparing the figures in this spreadsheet against the mean estimates for OCS, Coal Liquefaction and Oil Shale readily proves that Pickens CLEARLY did not include ANY of these sources of domestic hydrocarbons in his 3% figure.

Kudos to Pickens for FINALLY advocating “drill, drill, drill”. Now, if only he would STOP being so EGREGIOUS DECEPTIVE about what can be gained by “drill, drill, drill”!

If we fuel our cars with Natural Gas, what will we use to heat our homes and generate our electricity? Does anybody remember the lessons learned from the Ethanol debacle?

As this chart (from this post) demonstrates, Natural Gas is already a VERY expensive option for generating electricity.

Pickens says his plan “starts with wind”.
Click here and take a closer look
at wind & the Pickens plan.

Click here for all my posts on the Pickens Plan.

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