U.S. Crude and Natural Gas Resources

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Page 31Energizing America: Facts for Addressing Energy Policy | July 2011

At a time when we need all the energy we

can find, increasing access to domestic

sources of oil and natural gas would enhance

our energy security. We have enough oil andnatural gas resources to power 65 million

cars for 60 years and heat 60 million

households for 160 years.

There could be much more oil and natural

gas than previously known in areas where

industry has been unable to fully explore,

and new technologies allow us to access

resources previously thought unreachable.

There are many examples of how the

government’s initial estimates dramatically

underestimated the amount of actual

resources. For example:

• Alaska’s North Slope oilfield has

produced more than 16 billion barrels

of oil and natural gas liquids, and is still

producing. Government agencies forecast

 the region would produce no more than

10 billion barrels, total.

Developing domesticsources of oil and natural

gas will be an importantbridge to our energy future.

• In the Bakken Formation of North Dakota

and Montana, the U.S. Geological Survey

now says 3 billion to 4 billion barrels of 

undiscovered oil are available – 25 timesmore than the original estimate made

in 1995.

• In 1987, the MMS estimated that there

were 9 billion barrels of oil in the Gulf of 

Mexico. By 2006, after major advances

in seismic technology and deepwater

drilling techniques, the MMS resource

estimate for that area had ballooned

 to 45 billion barrels.

*Figures may not add exactly to total due to rounding.Source: MMS, BLM, and API calculations.

U.S. Crude Oil (Bbl) and Natural Gas (Tcf) Resources(Undiscovered Technically Recoverable Federal Resources)*

116.3 billion barrels is enough oil to powerover 65 million cars for 60 years.

650.6 trillion cubic feet is enough natural gas to heat 60 million homes for 160 years.

Lower 48, Onshore11.7 Bbl145.9 Tcf  Atlantic Offshore

3.8 Bbl36.9 Tcf 

Gulf Offshore/Deepwater

44.9 Bbl232.5 Tcf 

Pacific Offshore

10.5 Bbl

18.2 Tcf 

Alaska Onshore18.8 Bbl85.1 Tcf 

Alaska Offshore26.6 Bbl132.0 Tcf 

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Page 32Energizing America: Facts for Addressing Energy Policy | July 2011

Source: Minerals Management Service and Department of the Interior.

Offshore Undiscovered Technically Recoverable Federal Oil (Bbl) and Natural Gas (Tcf) Resources

With energy consumption expected to grow in

 the coming decades, America needs access

 to its untapped domestic resources. These

resources can replace output from maturing fields and strengthen our energy security.

The March 2010 announcement from the

Administration to open areas for offshore oil

and natural gas exploration was a positive

development. However, as a consequence of 

 the Deepwater Horizon spill, the Administration

ordered a six-month suspension on the

issuance of permits for new deepwater oil

and gas wells, suspended the exploration in

 the Chukchi and Beaufort Seas until 2011,

canceled the August lease sale in the western

Gulf of Mexico and the proposed lease saleoff the coast of Virginia, and halted activity

on 33 deep water wells being drilled in

 the Gulf of Mexico. In December 2010

 the Administration announced additional

policy decisions that rescinded its March

announcement. As a result, the Atlantic and

Eastern Gulf of Mexico OCS areas will not be

considered for leasing until 2017.

Proposals to halt or restrict offshore energy

projects could result in hundreds of thousands

of lost jobs, including many in Gulf states,

billions of dollars of lost government revenueand a sharp decrease in our country’s energy

security.

While this incident is tragic, our nation’s

demand for energy is growing, and we will

need more oil and natural gas in the coming 

decades to meet it. Decisions that impact

 the industry’s ability to produce the oil and

natural gas this country needs in every secto

of our economy and in every household in

 this country will affect the lives of every

citizen, every day.

The U.S. oil and natural gasindustry should be

allowed to do what it doesbest – produce the energyAmerica needs.