Turns out, that refrain is so very wrong:
GAO To Obama: More Oil Than Rest Of The WorldWe can't become oil-independent?
Investor's Business Daily
The Government Accountability Office tells Congress the Green River Formation out West contains an "amount about equal to the entire world's proven oil reserves." So why are we keeping it locked up on federal lands?
Exploding the Big Lie pushed by President Obama that we can't drill our way out of high gas prices because we have but 2% of the world's proven oil reserves, Anu Mittal, GAO director of natural resources and environment, testified before Congress last week that just one small part of the U.S. is capable of outproducing the rest of the planet.
That small part is known as the Green River Formation, the world's largest oil shale deposit, and is located in a largely vacant region of mostly federal land on the western edge of the Rocky Mountains that includes portions of Wyoming, Utah and Colorado.
Given that current U.S. daily oil consumption is running at 19.5 million barrels, the staggering amount of Green River reserves would by itself supply domestic oil consumption for more than 200 years. That sure blows the heck out of the "peak oil" theory that the world is running out of oil. [link]
As is too often the case, Barack Obama - and the rest of his Democratic Party - are on the wrong side of the facts.