Most of that is tar sands and heavy oil. For those to be commercial, you need prices upward of $100, which will be sooner than later. We have about twenty years worth of supply in the US from conventional reservoirs. Plenty of natural gas, not much oil left. ANWR has a few billion barrels, the equivalent to three to five years of demand.
Oil Shale Resources
Green River Formationclick to view larger image
Location of the Green River Formation Oil Shale and Its Main Basins
While oil shale is found in many places worldwide, by far the largest deposits in the world are found in the United States in the Green River Formation, which covers portions of Colorado, Utah, and Wyoming. Estimates of the oil resource in place within the Green River Formation range from 1.2 to 1.8 trillion barrels. Not all resources in place are recoverable; however, even a moderate estimate of 800 billion barrels of recoverable oil from oil shale in the Green River Formation is three times greater than the proven oil reserves of Saudi Arabia. Present U.S. demand for petroleum products is about 20 million barrels per day. If oil shale could be used to meet a quarter of that demand, the estimated 800 billion barrels of recoverable oil from the Green River Formation would last for more than 400 years1.
More than 70% of the total oil shale acreage in the Green River Formation, including the richest and thickest oil shale deposits, is under federally owned and managed lands. Thus, the federal government directly controls access to the most commercially attractive portions of the oil shale resource base.
http://ostseis.anl.gov/guide/oilshale/index.cfm