Biggest "ENERGY" (NG) reserves in the world – under the U.S. – unlikely, but, yes, a hell of a lot of gas. Oil reserves, nowhere near!
I said in a post a few months ago, the U.S. should be looking at utilizing its gas reserves for energy – but that does not, and never will, replace the wealth of hydrocarbon products made from crude oil fractionation!
Moreover, U.S. industry is currently entirely geared to supply lines, refineries ect. based on a supply of Arab OIl. It has no means of quickly redirectly its focus to a currently non-existant internal gas or oil supply nor an infrastructure based on internal supply.
I know what I am advocating is brutal and crude foreign policy. However, the alternatives seem to become more uncertain and more expensive (lives and $) as each day goes by and may eventually become completely impossible.
I realize that I am suggesting that the U.S. should become a bully. However, I am suggesting this role in order to prevent complete chaos in the schoolyard.
I should also say that I know that many dictatorial regimes have proffered the same same justification in the past – but this is not a game, it's real and it's about you and your kids' future.