Global petroleum production is approximately 85 million barrels of oil per day. According to various estimates, consumption is about 82 million barrels per day. Fossil fuels make up about 85% of total U.S. energy demand, which is estimated at about 45 million to 50 million barrels of oil equivalent per day. Energy imports, mainly crude oil, account for 20% of the total U.S. energy requirements.
"...the Obama administration's approach to U.S. domestic oil and gas production can be characterized as a strategy of ambivalence, an uneasy equilibrium between desire to lessen the role of fossil fuels and the reality of their necessity in a functioning U.S. economy."
The planet is endowed with plentiful sources of natural gas and oil, conventional and unconventional. Some estimates place global unconventional gas resources at about 33,000 trillion cubic feet, or about five times the amount of proven reserves at the end of 2009. At current rates of global consumption, there are sufficient oil and gas supplies to last well into the next century. (WSJ, 3/9/2011)