USGS Upgrades Piceance Basin Oil Shale Estimate 50% To 1.5 Trillion BBL ( Colorado )

Dow Jones ^ | Apr 2, 2009

[george76]

The U.S. Geological Survey Thursday increased its estimate of oil shale resources in the Piceance Basin in northwestern Colorado by 50% to more than 1.5 trillion barrels.

The Obama administration has halted commercial lease sales of oil shale development, saying more research, particularly on the environmental consequences, is needed before moving ahead with development.

The USGS said its latest assessment of the nation's largest oil shale basin, the first since 1989, didn't include a recoverable resource estimate, however, because the resource is currently not economical to recover and there are still a number of environmental concerns about development.

[george76]

USGS said it is also conducting oil-shale assessments in the Uinta Basin of eastern Utah and the Green River Basin of southwest Wyoming.

http://www.bizjournals.com/denver/stories/2009/03/30/daily65.html?ana=from_rss

[antceecee]

With oil fields in the middle east facing decreasing production, perhaps the destruction of and overtaking of the US economy by foreign interests has more to it than just that they “hate us”. Could it have something to do with our reserves?
Are we looking at a new world war?

[TigersEye]

The Democrat "No Domestic Energy Policy!"

• No domestic drilling.
• No new refineries.
• No new nuke plants.
• No new dams for hydro-electric.
• No coal.
• No shale.
• Deplete the SPR.
• Let Iran get nukes.
• Let Iraq fall to Iranian domination.
• No Canadian tar sands oil.

[philman_36]

The Democrat "No Domestic Energy Policy!"
Hey, watch it there. You know the R's are the party of "no". /s

[TigersEye]

No.

lol

[ChiMark]

What’s the point. Obama won’t allow any exploration.

Cold shower reality: he wants us to starve.

[philman_36]

Long time no chat. How are you and .30Carbine doing?

[TigersEye]

Thank you for remembering. I'm afraid we parted ways about four years ago. I'm back in CO looking after my Mom now. We're just holed up here in the mountains wondering when the bottom will drop out of everything. Or if somehow it won't.

Keeping up on your battle hammer technique? heh

[Irishguy]

just did the math.

current consumption 21 million barrels a day in the US (as of 2007)

1.5 trillion divided by 21 million = 71,428.5714 days of oil (FROM THIS LOCATION ALONE)

71,428.5714 divided by 365 = 195.694716 years of OIL

195 years of oil from this location. Now thats assuming we dont get any engine performace improvements, better recoverability improvements on oil, thats assuming we just sit with engine technology as of today for 195 years. The reality is we are awash with oil...in fact we have a glut of oil and will have for centuries...Now you begin to understand why the global warming hoax is so important, the peak oil fiasco has been blown wide open, so now we need a new crisis to supplement and/or replace the old crisis..

[bolobaby]

Whatever the United States does, it should NOT go get that money until we have perfected alternative energy sources to the point that it is cost-prohibitive to remove the oil.

[Caipirabob]

"DON'T GO THERE..."

[philman_36]

I'm afraid we parted ways about four years ago.
It has been a while, hasn't it! Sorry to hear about that.

I'm back in CO looking after my Mom now.
I know the feeling.

Keeping up on your battle hammer technique? heh

Damned skippy! Smash 'em and bash 'em! Get medieval.
Thank you for remembering.

[philman_36]

I have to be honest. I'm not as esoteric as that. I'm more modern.

Forget the wood handle. You would be surprised at the amount of damage a 4 lb hammer can do to just about anything!

[mosesdapoet]

There’s something suspicious about this oil position. Could it be its payback time to those foreign campaign contributers because it defies logic.Thats what I say in http://www.theusmat.com/

[thackney]

resource is currently not economical to recover

Oil in place is not the same as recoverable reserves.

[thackney]

Thanks for the ping.

Nice to see updated data, but don’t confuse oil in place with recoverable reserves. With today’s technology and prices, this has zero impact.

Technical Announcement:
U.S. Oil Shale Assessments Updated
http://www.usgs.gov/newsroom/article.asp?ID=2182

Assessment of In-Place Oil Shale Resources of the Green River Formation, Piceance Basin, Western Colorado
http://pubs.usgs.gov/fs/2009/3012/pdf/FS09-3012.pdf
Oil Shale Assessment Project Fact Sheet

Slide Presentation
http://energy.usgs.gov/flash/OilShale2009_slideshow.swf

[TigersEye]

Damned skippy! Smash 'em and bash 'em! Get medieval. Thank you for remembering.

I always remember someone who knows how cover my six. ;-)

I have to be honest. I'm not as esoteric as that. I'm more modern.

Nothing wrong with that. Nothing beats an Estwing. I have two 22 oz Estwing smooth face hammers and an Estwing rigging axe. Either one would make an effective weapon, especially the axe.

I still love my kukri best of all. There are so many jobs it will do to perfection while not being employed in combat. Like hammers! Pistols are great tools but their uses are narrowly defined. 99.9% of the time they're just extra weight to carry.

If they put a hand in my gun cabinet
I keep the gun and the hand. :-)

[philman_36]

Oh yeah, I remember your affection for the Kukri.
And, like you, I've got my solid axe as well. I love the total metal construction.
I'm not going to be breaking any handles on hammer or axe! Good solid tools all.

I'll try to stay in touch a little more frequently. I've seen you a few times on the boards though I didn't stop to visit other than a time or two if memory serves.
Stay safe my FRiend.

[TigersEye]

What happened to our mutual FRiend Cato? Do I have the handle wrong? The three of us used to tear up some 2nd Amendment threads.