The National Petroleum Council has issued a new report entitled, Prudent Development: Realizing the Potential of North America’s Abundant Natural Gas and Oil Resources. From the press release: "First, the potential supply of North American natural gas is far bigger than was thought even a few years ago. As late as 2007, it was thought that the United States would have to become increasingly dependent on imported liquefied natural gas, owing to what appeared to be a constrained domestic supply. That is no longer the case. It is now understood that the natural gas resource base is enormous and that its development – if carried out in acceptable ways – is potentially transformative for the American economy, energy security, and the environment, including reduction of air emissions. These resources have the potential to meet even the highest projections of demand reviewed by this study." (Emphasis is ours.)
What about our domestic oil resources you ask? Hit the link to find out!