Peak Oil Update: GAO: Recoverable Oil in Colorado, Utah, Wyoming ‘About Equal to Entire World’s Proven Oil Reserves’
05/12/2012 4 Comments
CNSNews.com has the story:
The Green River Formation, a largely vacant area of mostly federal land that covers the territory where Colorado, Utah and Wyoming come together, contains about as much recoverable oil as all the rest the world’s proven reserves combined, an auditor from the Government Accountability Office told Congress on Thursday.
The GAO testimony said that the federal government was in “a unique position to influence the development of oil shale” because the Green River deposits were mostly beneath federal land.
It also noted that developing the oil would have an environmental impact and pose “socioeconomic challenges,” that included bringing “a sizable influx of workers who along with their families put additional stress on local infrastructure” and “making planning for growth difficult for local governments.”
“The Green River Formation–an assemblage of over 1,000 feet of sedimentary rocks that lie beneath parts of Colorado, Utah, and Wyoming–contains the world’s largest deposits of oil shale,”Anu K. Mittal, the GAO’s director of natural resources and environment said in written testimony submitted to the House Science Subcommittee on Energy and Environment.
“USGS estimates that the Green River Formation contains about 3 trillion barrels of oil, and about half of this may be recoverable, depending on available technology and economic conditions,” Mittal testified.
“The Rand Corporation, a nonprofit research organization, estimates that 30 to 60 percent of the oil shale in the Green River Formation can be recovered,” Mittal told the subcommittee. “At the midpoint of this estimate, almost half of the 3 trillion barrels of oil would be recoverable. This is an amount about equal to the entire world’s proven oil reserves.”
And, guess what it is right here in America. That said, we lack the political will to extract our own oil, we would rather fund global terrorism by buying oil from people that hate us. Someday, this will change when the terrorist countries oil fields are dry.
If I under stand it we tracking has given us enough natural gas for a 1,000 years at the current rate and we have more oil than the rest of the world, enough for 500 years, why then what do we have to put up with A.P.P.L.E and all their nut case schemes to reduce energy use?