Posted on 11/13/2012 2:12:11 PM PST by lbryce
Drillers in Utah and Colorado are poking into a massive shale deposit trying to find a way to unlock oil reserves that are so vast they would swamp OPEC.
A recent report by the U.S. Government Accountability Office estimated that if half of the oil bound up in the rock of the Green River Formation could be recovered it would be "equal to the entire world's proven oil reserves."
Both the GAO and private industry estimate the amount of oil recoverable to be 3 trillion barrels.
"In the past 100 years — in all of human history -- we have consumed 1 trillion barrels of oil. There are several times that much here," said Roger Day, vice president for operations for American Shale Oil (AMSO).
The Green River drilling is beginning as shale mining is booming in the U.S. and a report by the International Energy Agency predicts that the U.S. will become the world's largest oil producer by 2020. That flood of oil can have major implications for the U.S. economy as well as the country's foreign policy which has been based on a growing scarcity of oil.
The IEA report does not detail where the American oil will be coming from, but the largest deposit is the Green River formation which has yet to tapped in any significant way.
This tantalizing bonanza, however, remains just out of reach, at least for now. The cost of extracting the Green River oil at the moment would be higher than what it could be sold for. And there are significant environmental obstacles.
The operation might require so much water it would compete with Denver and agriculture for vital supplies, the GAO report warned, could pollute underground streams,
(Excerpt) Read more at abcnews.go.com ...
There is still lots of oil that would be easy if you can determine exactly where to sink a shaft into it. Deposits of this oil aren’t counted today among known tappable resources because they are impractically risky to drill for with today’s methods of location — too many dry wells for every wet one. But tomorrow may bring them into viability as imaging capabilities continue to improve.
I agree, somehow he will put an end to this.
That's terrific news. Good for Israel.
Does this mean we are all going to have to wear “man-dresses” like the Arabs and sandals???
The upside of this, however, would be getting the global warmists to shut up. They were coaxed into barking by the lefties, and they can be as easily hushed. Even a blind pig gets an acorn every so often... so to speak.
Where the frack did all those dinosaurs come from?
Obama intends to stop all fracking in the states.
Obama’s Post-Reelection EPA Plans
Posted: November 4, 2012
If you think the Obama administration’s Enterprise Prevention Agenda has been wildly aggressive during the past four years, believe me, we really ain’t seen nothin’ yet. A new report released by the U.S. Senate Committee on Environment and Public Works Minority Committee enumerates a slew of planned EPA regulations that have been delayed or punted on until after the election that will destroy millions of American jobs and cause energy prices to skyrocket even more.
Titled “A Look Ahead to EPA Regulations for 2013: Numerous Obama EPA Rules Placed on Hold Until After the Election Spell Doom For Jobs and Economic Growth”, it lists and describes new rules concocted over the past year ranging from additional restrictions on greenhouse gas emissions, tougher water guidelines and tightening of the ozone standard. Taken together, they will further drive up pump prices, impose construction bans on local communities, and cripple oil, natural gas and coal production.
As the Washington Post notes, the report puts a spotlight back on the Obama EPA which has earned a “reputation for Abuse”, serving as a stark reminder that “President Obama has presided over a green team administration that works every day to “crucify” oil and gas companies and make sure that “…if you want to build a coal plant you got a big problem.”
http://thepatriotperspective.wordpress.com/2012/11/04/obamas-post-reelection-epa-plans/
It’s racism to use this drill or use this oil. We must let the Chinese drill for it./s
The price is the key to viability. If they got the cheap juice to keep their cookers a-cooking. Of course volume also is important. They have to be able to scale it up and keep the price reasonable.
That’s impossible. All the left wing libtards keep telling me we are running out of oil and have been telling me that for 45 years!
And we know left wing libtards are never wrong! /s (for those that can’t figure out sarcasm if it bit them)
This is all such artificial manipulation.
LOL, you know even a lot of FR’s won’t get that.
—— Where the frack did all those dinosaurs come from? ——
They live in the center of the earth.
it’s not actually fossil fuels, do a little research and you’ll see where it actually comes from, and yes it’s renewable.
Thats my question too. With this guy in the White House (and with "mainstream" sources like ABC) I always feel like there is a triple game being played, and here's another one.
I know shale oil and gas is not new, I was referring to all of the talk about it from the MSM all of a sudden.
“Obama will make sure we can’t access it!”
My thought exactly. The EPA will end this dream.
Ya think? You're not kidding me are you?
Maybe because now 0zero clearly owns this economy and they have got no other plan.
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