- 8,194
- 2,528
I'm not quoting McCain. I was actually pulling from T. Boone Pickens.
We use about 19.6 million barrels per day, and produce about 5.8 million barrels per day. So with a net requirement of 13.8 million barrels per day, and at $140 per barrel, that is $700 Billion per year, so that was the peak value seen this year. Right now oil is about $100 per barrel, so we should be at about $500 Billion per year, based on the daily demand.
http://maps.unomaha.edu/Peterson/funda/Sidebar/OilConsumption.html
What McCain doesn't understand, or perhaps what he doesn't want anyone else to understand is that we can't drill our way out of this problem.
We use about 19.6 million barrels per day, and produce about 5.8 million barrels per day. So with a net requirement of 13.8 million barrels per day, and at $140 per barrel, that is $700 Billion per year, so that was the peak value seen this year. Right now oil is about $100 per barrel, so we should be at about $500 Billion per year, based on the daily demand.
http://maps.unomaha.edu/Peterson/funda/Sidebar/OilConsumption.html
What McCain doesn't understand, or perhaps what he doesn't want anyone else to understand is that we can't drill our way out of this problem.
Last edited: