has published an interesting article claiming that the U.S. has more oil reserves than Saudi Arabia… if you include shale oil. Rystad Energy A new independent estimate of world oil reserves has been released by Rystad Energy, showing that the U.S. now holds more recoverable oil reserves than both Saudi Arabia and Russia. For U.S., more than 50 percent of remaining oil reserves are unconventional shale oil. Texas alone holds more than 60 billion barrels of shale oil according to this new data. I will not quote the entire article for copyright reasons, but would invite you to go there and check it out. Their final total, their 2PCX reserves, includes undiscovered fields. (Click to enlarge) (Click to enlarge) The devil is in the details, or rather the legend at the bottom of the above chart. First, I do not understand their 2PC reserves “existing fields and discoveries”. If […]