We cannot drill our way out of this oil crisis. Since 2000, oil companies working in the U.S. have doubled the number of wells drilled per year.
Although increased drilling has added new oil to the nation's supply, it has not done so fast enough to offset the terminal decline of existing fields.
We are going to have to import more of our oil. Period.
MonteQuest
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IGreen Energy Resources (nasdaq otc.GRGR.pk) citing the US Energy Information Agency, (EIA) confirms biomass is the number one renewable energy in the world. Wood biomass comprises 48% of all current renewable energy and is the 4th largest energy after oil, gas, and coal. The total biomass available in the US is 2,740 quads or 29 times total current electric power used in the US. Wind and Solar energy are distant seconds and not expected to contribute more than 1% of the total US electric power supply before 2020.
