“End the ban on oil shale development in the American West, where we have three times the amount of oil as Saudi Arabia.”
America’s oil shale reserves are enormous, totaling at least 1.5 trillion barrels of oil. That’s five times the
reserves of Saudi Arabia! And yet, no one is producing commercial quantities of oil from these vast deposits. All that oil is still sitting right where God left it, buried under the vast landscapes of Colorado and Wyoming.
But what if we could safely and economically get our hands on all that oil? Imagine how the world might change. The U.S. would instantly have the world’s largest oil reserves. Imagine…having so much oil we’d never have to worry about Saudi Arabia again, or Hugo Chavez, or the mullahs in Tehran. And instead of ships lined up in L.A.’s port to unload cheap Chinese goods, we might see oil tankers lined up waiting to export America’s tremendous oil bounty to the rest of the world. The entire geopolitical and economic map of the world would change…and the companies in the vanguard of oil shale development might make hundreds of billions of dollars as they convert America’s untapped shale reserves into a brand new energy revolution.
http://dailyreckoning.com/oil-shale-reserves/
That's true. But is that oil extractable at a cost which is consistent with $2 a gallon gas? I would need some convincing.