Alaska’s Oil Reserves Decline for Third Straight Year; Gas Reserves Down Sharply US Alienates Canada For No Good Reason! Posted: 09 Dec 2014 01:08 PM PST By Blythe Campbell On December 4, The U.S. Energy Information Administration (EIA) issued its annual report on U.S. Crude Oil and Natural Gas Proved Reserves for 2013. “Proved reserves” are estimates based on existing economic and operating conditions. U.S. proved reserves of crude oil increased for the 5th year in a row, to 36.5 billion barrels, with 5.5 billion barrels of new discoveries exceeding adjustments and production of [...]