The Myth Of Scarce Oil — U.S. Has 60 Times More Crude Than President Obama Claims

The Myth Of Scarce Oil — U.S. Has 60 Times More Crude Than President Obama Claims - Investors.com:
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.