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There has been a oil find in central Utah that is estimated at 200 million to as high as 1 billion barrels recently:

http://deseretnews.com/dn/view/0,1249,600131526,00.html

There is oil in the western US. The reason why it hasn't been found, much less exploited is that the drilling depths are much deeper than in previous finds, and the exploration costs much more. That, and the USGS models of geology in Utah, Nevada, western CO, etc are simply wrong.

There are oil wells here in Nevada in the Railroad Valley that were good finds in their day. There is oil here in western intermountain states, it is just that the geology isn't operating according to West Texas models. This means that oil exploration companies need to have deep, deep pockets to develop new (and accurate) geological models, seismic surveys, do exploratory drilling, etc, etc.

There is plenty of oil in the CONUS area. We just have to quit listening to the environmentalist twaddle, pablum and dogma against drilling.