Posted on 05/17/2006 8:44:30 PM PDT by dmanLA
The U.S. Govt's Secret Colorado Oil Discovery
Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world - more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. Three companies have been chosen to lead the way. Test drilling has already begun...
Dear Reader,
Five months ago, the U.S. Energy Department announced the results of a land survey...
It was conducted to determine the official amount of oil a thousand feet deep in the Rocky Mountains...
They reported this stunning news:
We have more oil inside our borders, than all the other proven reserves on earth.
Here are the official estimates:
* 8-times as much oil as Saudi Arabia * 18-times as much oil as Iraq * 21-times as much oil as Kuwait * 22-times as much oil as Iran * 500-times as much oil as Yemen
...And it's all right here in the Western United States.
James Bartis, lead researcher with the study says, "We've got more oil in this very compact area than the entire Middle East."
More than 2 TRILLION barrels. Untapped.
"That's more than all the proven oil reserves of crude oil in the world today," reports The Denver Post.
When asked about America's least-publicized oil supply, Utah Senator Orrin Hatch said:
"The amounts of oil are staggering. Who would have guessed that in just Colorado and Utah, there is more recoverable oil than in the Middle East?"
Here's the kicker...
The U.S. government already owns the land. It's been right there under our noses the whole time.
In fact, the government's appointed a small group of companies to begin the drilling.
Test drilling has already begun.
And the profit forecasts are ridiculous. According to the RAND Corporation (a public-policy think tank for the government), this small region can produce:
Three million barrels of oil per day... That translates into more than $20 BILLION a year.
These are the conservative estimates. The U.S. Energy Dept. estimates an eventual output of 10 million barrels of oil per day. At that rate, the money flow would be even greater.
I've written this letter to tell you everything I've learned about this rarely publicized oil reserve... who's drilling it... and how to get a piece of the world's biggest, untapped oil supply - before it's too late.
Here's the full story...
The Next American Oil Boom
There's a new source of oil in the American West.
Today, it sits idle - untapped - inside more than 16,000 square miles of rock and sand.
Geologists call what lies in this region, oil shale.
What is oil shale?
At first glance, oil shale looks like an ordinary black rock.
It feels grainy to the touch and... greasy. You see, what's inside oil shale has huge governments, Big Oil, venture capitalists, and even everyday investors scrambling to stake a claim.
Oil shale - when heated - oozes bubbling crude.
This precious resource is rare - found only in a few select countries. Places like China, Brazil, Estonia, Morocco, and Australia.
But the real story is how much untapped oil shale lies beneath U.S. soil. As the chart to the right indicates, there's 4-times more oil shale in the U.S. than in all other countries combined.
Over the past 125 years, oil shale has been the secret oil source for a handful of nations. Specifically, those fortunate enough to have it...
* China's been using oil shale since 1929. Today, China is the largest producer of oil from oil shale. It plans to double the daily rate of production soon.
* Estonia is an oil shale dependent economy. Over 90% of the country's electricity is fueled by shale oil. In fact, electricity run on oil shale is a chief export.
* In 1991, Brazil built the world's largest oil shale facility. They've already produced more than 1.5 MILLION tons of oil to make high quality transportation fuels.
* Jordan, Morocco, and Australia have recently announced plans to utilize their oil shale resources. All 3 governments are currently working to build oil shale facilities.
But all these countries' oil shale resources pale in comparison to the U.S. supply. As you can see from the table to the right, the United States dominates the oil shale market - with over 72% of the world's oil shale resources.
Our gargantuan supply of oil lies beneath an area called the Green River Formation - a barren stretch of land covering portions of Colorado, Utah, and Wyoming.
World-renowned geologist Walter Youngquist calls the oil beneath the Green River Formation, "a national treasure."
Congress calls this area simply, "the next Saudi Arabia."
It's easy to see why...
This region holds the largest known oil reserve on the planet...
Colorado's Oil Lands - Restricted for 76 Years, Now Open for Drilling
There are over 16,000 square miles of oil shale in the Green River formation...
Each acre holds 2 million barrels of oil - it's the most concentrated energy source on earth, according to the Energy Department.
The federal government owns 80% of this oil-rich land.
In fact, the government placed protective legislation on this land in 1930, forbidding anyone to touch it.
You see, the government always knew this land was saturated with oil - but getting it out has always been expensive.
Buying oil from foreign countries was always the cheaper bet. It has been for the past 80 years.
Wisely, the government kept the land around for a "rainy day", protecting it with 1930s legislation.
I'm sure you're aware of today's situation at the gas pump. Buying oil from foreign countries has gotten out of hand. The price of oil is sky-high. It's way too expensive to keep buying foreign oil. In other words, the "rainy day" has finally arrived.
The timing couldn't be more perfect. Oil shale technologies have begun to advance - drastically.
Companies are coming up with ways to extract oil from the Green River Formation very cheaply.
For example, one Utah-based company says it can extract the oil for as little as $10 a barrel. In fact dozens of companies have stepped forward with similar claims. With oil prices approaching $70 a barrel - these are pretty significant breakthroughs.
That's all the government needed to hear.
On August 8, 2005, President Bush signed into law, a mandate lifting the protective legislation on the Green River Formation.
This mandate is called The Energy Policy Act of 2005. It calls for the opening phases of oil extraction in the Green River Formation - the world's most concentrated energy source.
We're finally ready to tap the largest oil reserve on the planet...
"Does anyone know if this is in fact true?"
I've been hearing about this shale deposit for a long time. If it were true that oil could be extracted cheaply from that area, companies would be tripping over each other to drill there.
If it were coming from World Net Daily ,I wouldn't hold my breath.
I think they are talking about oil shale. Right now it is very expensive to extract oil from oil shale.
http://www.worldenergy.org/wec-geis/publications/reports/ser/shale/shale.asp
No, really, I read it on DEBKA, too.
oil shale is on it's way, the rest reads like Roswell crap
One possibility is that it's there but unfeasible to obtain due to various geological factors.
Seems to be word for word from Rense.com -- not the most reputable source, he claims it's from StansberryOnline.com
It may be true, then again, it may not be.
http://www.rense.com/general70/doro.htm
http://www.stansberryonline.com/OIL/20060405-OIL-COL.asp?pcode=EOILG422&alias=200604OIL
newsmax is a generally unreliable source of news.
There was a thread a month or two ago that this sounds like. It was some kind of promotional type investment thing.
You are right, they are talking about oil shale. The extraction may have been too costly when oil was $20 a barrell, but at today's oil prices it may be worth it.
Here is an article from the Christian Science Monitor:
With oil at $70 a barrel, firms try coal, shale, even turkeys
http://www.csmonitor.com/2006/0427/p02s02-usec.html
"The potential reserves in some cases are gigantic. The Bureau of Land Management has estimated the potential US recoverable oil shale reserves at 800 billion barrels of oil, three times the proven oil reserves of Saudi Arabia. In some cases, there is already a significant production: tar sands in Canada are currently producing about 1 million barrels of oil per day and expanding rapidly.
Currently, much of the work being done in the oil shale is on relatively small parcels of land. Shell Oil is reportedly working on a process that heats the shale to 700 degrees F for two to three years while it's in the ground. But, like much of the shale work, it's secret. "Shell claims to be producing oil, but I don't know anyone who knows for sure," says Mr. Schamel. Shell itself says it is in a "quiet" period prior to its earnings announcement and cannot comment. "
Here is a US Department of Energy source confirming the 2 Trillion barrel estimate. http://www.fossil.energy.gov/programs/reserves/npr/NPR_Oil_Shale_Program.html
Would that it were true... But I am not holding my breath.
Besides, even if it was, the environmentalists would go totally ballistic and shut it down in a heartbeat in the courts.
Whoever wrote the article does not realize what he is talking about. He refers to oil being held inside of rock, but talks about square miles. He really needs to talk about volume or cubic miles not square.
16,000 square miles = 100 miles by 160 miles.
If the oil bearing rock is 1000 ft deep and sits under an area 100x160 miles, that means they would have to dig a hole 160 miles wide and 100 miles long and 1000 feet deep.
Impossible.
Generally I think it may be true.
The issue is economics.
Recovering oil from oil shale has historically been very expensive. In other words, it cost more to retrieve than it was worth. Whether that has changed, I don't know.
The vast extent of U.S. oil shale resources, amounting to more than 2 trillion barrels, has been known for a century.
They are referring to the total of the entire US, not just this area under Colorado.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.