The United States has plenty of oil ... and natural gas. Oil Fields Gushing in the U.S.. The U.S. Energy Information Administration is likely to raise by a substantial amount its existing estimate that U.S. oil production will grow by 550,000 barrels per day by 2020, to just over six million barrels daily. Fracking: The Radical Left's Latest Weapon of Fear. A Congressional Research Service report to Congress in late 2009 indicated that America's combined supply of recoverable natural gas, oil, and coal exceeds every other nation on earth; even far greater than Saudi Arabia, China, and Canada combined! The CRS report was independently confirmed last month by the Institute for Energy Research with the release of the North American Energy Inventory. The IER study says the U.S. has more than 1.4 trillion barrels of recoverable oil reserves; 1.7 trillion barrels when combined with Canada and Mexico. That's enough for 250 years of U.S. consumption according to the IER, and more than the entire world has used in the previous 150 years. Additionally, the North American continent has 4.2 quadrillion cubic feet of recoverable natural gas reserves enough to last the next 175 years at current rates of consumption according to IER. There is no shortage of oil There is no shortage of oil Who stand to benefit from a pipeline from Canada?