I don’t know if this piece is full of accurate data or wishful thinking, but if the former, this could be some good news:

Gilmer: We Should View The Permian Basin As A Permanent Resource

Short form: an expert believes that the Permian Basin formation in west Texas may have between 500 billion and two trillion barrels of economically recoverable oil. The US currently consumes about 7.2 billion barrels of oil per year, so this formation would provide between 97 and 389 years of petroleum for the US. This makes it a “permanent” resource because it’s safe to assume that the US will be largely weaned off petroleum for most fuel applications before that first 100 years is up, so the formation might never be drained.

From a strategic standpoint, it might be best if the US developed the infrastructure to tap that oil deposit… and then leaves it more or less alone, pump out no more than we’re doing now. Instead, buy our oil from elsewhere. Run ’em all dry. Then, when the whole world goes into oil shock as the foreign supplies dry up and the prices shoot through the roof, the US starts tapping the Permian Basin as a strategic reserve. Make it illegal to export the oil. The rest of the world grinds to a halt, the US forges ahead. MUAHAHAHAHAHAHAHAAAA!!!!!!