The US is Literally Running Out of Oil

Added: 2026-05-31

[00:00:00]The United States is literally running out of oil, and I don't say that like a clown left-wing silly person. I say it in reality. And so, I'm reading this from my formerly Guinness stained fingers from the US Geological Survey.

[00:00:15]Uh this is the assessment of deep conventional and continuous types natural gas plays in the United States.

[00:00:25]Because of depressed worldwide oil prices and the highly mature state of drilling and production in the United States, domestic drilling activity has declined and exploration companies are looking overseas for new prospects.

[00:00:40]Uh concurrently, domestic oil production is declining and the US reliance on imported oil is increasing.

[00:00:48]The US is rapidly exhausting its oil reserves, whereas estimates of resources of natural gas remain high. So, remember, the US is rapidly exhausting its resource of oil rapidly exhausting its oil reserves.

[00:01:05]This is from 1996, by the way. So, all the people who initially go, "Yeah, you're wrong, Skeletor." Well, this is from 1996. So, check this out.

[00:01:15]Here is our US proven crude reserves, 40 billion barrels, all right? And here we are in 1995. So, these guys were absolutely 100% correct. We were running out of oil reserves, absolutely. I think we use 20 million barrels a day in the United States, all right? So, we were running out. That's just a fact. This is before data centers and all that. Now, for many of you, and rightly so, you can say, "But Josh, you're missing the picture. You're missing something." And you'll say to yourself, "Here we are today." You can see we were running Look at that, 15 17 billion barrels in 2000 and what's that, eight or so? 17 billion. And we were Look at that, we were just running out of oil.

[00:01:58]And now we're up here to 48 billion. And I say in this right here in my um post, I say, "If you're not following me on X, you're wrong."

[00:02:09]I You can absolutely laugh at the USGS for stating this that we're running out of oil, but the facts were we were.

[00:02:16]All right? Then something magical happened.

[00:02:19]Shell Savant came along and changed the world serendipitously dipitously How do you say that word?

[00:02:26]The real question is, though, can we rely on future serendipitous der Whatever that word is. Discoveries.

[00:02:32]After all, there's only so much proven reserves and while nuclear will also give us a reprieve from the worry about running out of oil, the facts are there's only so much uranium, too. And this is Shell Savant's Nick Steinsberger, or this guy right here.

[00:02:45]I've talked about him a million times.

[00:02:48]The guy crushes. That's the guy who came up with the idea working on behalf of George Mitchell at Mitchell Energy on on how to frack, essentially. And but the question is, isn't that Let me show you what the question is.

[00:03:02]I'll share with you.

[00:03:04]Since 1996, we've discovered approximately 120 billion barrels or more of oil have been added to the US proven reserves. So basically, we have 200 billion barrels of oil reserves right now, which would equal about 26 to 27 years of consumption at What do you say here? At 20 million barrels a day. 200 billion divided by 7.3 billion barrels a year, 20 million a day is 27 years.

[00:03:35]I'll still be around. I'm only 55, so 27 years will not put me at 82. I'd you know, I'd just be breaking even on social security if I took it.

[00:03:43]62.

[00:03:45]All right. But anyway, so check this Oil years of supply are not static.

[00:03:49]Historically, reserves have grown despite production because of technology and whatnot. Now, I 100% agree. But, the facts are there is a finite supply of oil. Now, I am not against this idea that the that the Earth creates its own oil as we create our own blood, so to speak. I'm not against that at all. I find that very interesting. I I haven't really gone down that rabbit hole, but there's I've seen a couple videos and papers where guys talk geologists talk about how the Earth creates its own oil. I I don't know. But, I'm not against that.

[00:04:18]But, anyway, either way, as we sit here today, we have roughly 200 billion barrels of oil.

[00:04:24]Maybe 100 billion barrels of oil in reserve right now. And we just the much as we're going through it it gives us a finite amount of time for that oil is is gone. Now, again, you can say, "Well, we could find new resources." I get that. I get it. We could. Technology could change. I get that, too. These things are It's kind of like the the the green people. Well, battery power is going to change.

[00:04:47]Battery the capacity to hold electricity will change. Well, no, I get it. It could happen. Until it does though, you can't >> [laughter] >> you can't bank on that. Because yes, it could, but it could not, too, if that makes sense. Anyway, so then people say, "Well, nuclear is the answer." I say, "Yeah, well, what what does the US have for nuclear storage for nuclear energy in terms of uranium?"

[00:05:07]We got about 9 years of US nuclear fuel consumption based on the latest domestic uranium reserves. We got about 468 million pounds of economically recoverable uranium. Hm. The world has about let's say 7 tons of identif- identified recoverable uranium, all right? That gives us about 90 years of supply worldwide. Now, the interesting thing is that most of that is in Australia, which is kind of interesting.

[00:05:33]Um if I'm Australia, I'm exploiting the hell out of that. But, anyway, be as it may, Kazakhstan Nami- Namibia or is it Nami- whatever, some African country have it for the Chinese. And the Chinese are very colonizing these areas to take advantage of the uranium reserves underneath third world countries. Be it China's a good guy, we're the bad we're the empire but China's not. It's kind of weird. But anyway, be that as it may, these are facts, man.

[00:05:57]These are facts as we see here today.

[00:05:58]And I grant you, the fact from 1996 was that the US is running out of oil. I get it and we still are. Just fact.

[00:06:07]What I you I don't have any solutions or I don't know. I don't know what to do about that and I know that we have tons and tons and tons of people, you know, trying to figure out how to store electricity. I get all that stuff. 100% trying to get new technologies.

[00:06:21]But to rely on new technologies coming to the pipe to the front to save us, yeah, I don't know, man. Especially when you get mass expansion and I'm not against data centers at all. I love data centers. I love Grok. I don't want one in my backyard. Yeah, I am an NIMBY for sure. I certainly don't like them in freaking forests. I hate that crap. But uh you know, facts are we're going to be expanding our electricity generator electricity needs.

[00:06:47]It's just fact. These are just facts. Um now, the the human being population is shrinking, okay, but per capita, the amount of consumption is growing. Even while the population is shrinking. So, anyway, I have no clue what this means.

[00:07:01]I just figured I'd share it with you.

[00:07:03]Again, we could easily laugh at people, you know what I'm saying? But this was a fact in 1996. We were running low of oil. And then you even fact fast forward to freaking what I do here? To right there.

[00:07:16]2000. Look at that. 2000. We had only 17, maybe 20 billions of barrel a billion barrels of crude oil reserves.

[00:07:25]Crazy. Yeah. All right. God bless. I just figured I'd share that with you.

[00:07:28]God bless. We'll see you.