North American Energy Inventory

You have probably heard or read the talking point many times: The United States consumes nearly one-quarter of the world’s oil but we have only 2-3% of the world’s proved reserves (here, here, here), hence we cannot drill our way out of high gasoline prices (here, here, here), and should instead adopt policies (cap-and-trade, biofuel quota, fuel-efficiency mandates) to accelerate America’s transition to a low-carbon future.

A new report by the Institute for Energy Research (IER), North American Energy Inventory (December 2011), demolishes the gloomy assessment underpinning demands for centralized planning of America’s energy future. [click to continue…]