And for bonus points, although I haven't verified, he's probably measuring total energy content of that oil, not the amount we can successfully harness using mechanical means.
Yep - fun with math! Gallons of oil to barrels of oil to MMBTU's per barrel to MMBTU's per house per year (source energy vs. site energy). We totally geeked out on this. Minus points though for skipping the energy content in the natural gas that's leaking out of the well (apparently it's half and half). But our algebra skills reached a limit at some point once we felt like the point was made...