Energy Myths of the Left

[Geee]

American Spectator:

From confused "peak oil" theorists to confused Congressmen, it's all but impossible to hear a discussion of US energy policy without hearing the left's tired refrain: "The United States currently uses 25% of the world oil production but has only 2% of world reserves." The left uses this misinformation to argue against domestic oil drilling, claiming that with only two percent of the world's reserves, we can't possibly have enough oil in the ground to matter.

It's a line which reminds me of Mark Twain's wisdom (which he attributed to Benjamin Disraeli) that "There are three kinds of lies: lies, damned lies and statistics." Twain would be proud of these haters of fossil fuels whose "statistics" fall apart upon examination of a couple of definitions and a few pieces of data.

First, the word "reserves." As the Congressional Research Service notes, there are several different types of reserves, classified based on their official discovery, as well as "concentration, quality, and accessibility." The top of the "resource pyramid" is made of "proved" reserves, namely reserves of oil, natural gas, coal, or other fuel "which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions."