Can you wash out facts and reuse them?

The speech in Cushing Oklahoma a few days ago has the oil industry and their hired politicians after Obama again.  He came in, gave them a pipeline approval but they took offense with something he said.

He made reference to the amount of oil we have domestically available as a percent of the total known oil in the world.  I think he said 2% or 3%.  This figure is the proven or known reserves, a fact on geological records, tested by the government and the oil companies themselves.   But, WTF?  The oil patch (as it's known down here) is furious at his recklessly throwing around a fact.  They prefer, as is running every night on TV and cable channels, the pie in the sky hundred years worth of reserves right here story, or sometimes they say unlimited amounts of oil.  I guess if we can conserve enough then maybe they have 100 years of it, but unlimited, can't people think a little bit about that logic?

Oklahoma wants facts like a porn shoot wants rubbers.