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GAO: Recoverable Oil in Colorado, Utah, Wyoming 'About Equal to Entire World’s Proven Reserves'
CNSNews ^ | May 11, 2012 | Terence P. Jeffrey

Posted on 05/11/2012 4:09:24 PM PDT by jazusamo

Video at link

Wyoming

Rock Springs, Wyo. (BLM Photo)

(CNSNews.com) - The Green River Formation, a largely vacant area of mostly federal land that covers the territory where Colorado, Utah and Wyoming come together, contains about as much recoverable oil as all the rest the world’s proven reserves combined, an auditor from the Government Accountability Office told Congress on Thursday.

The GAO testimony stressed that the federal government was in “a unique position to influence the development of oil shale” because the Green River deposits were mostly beneath federal land.

It also noted that developing the oil would pose “socioeconomic challenges,” which included bringing “a sizable influx of workers who along with their families put additional stress on local infrastructure” and “making planning for growth difficult for local governments.”

“The Green River Formation--an assemblage of over 1,000 feet of sedimentary rocks that lie beneath parts of Colorado, Utah, and Wyoming--contains the world's largest deposits of oil shale,”Anu K. Mittal, the GAO’s director of natural resources and environment said in written testimony submitted to the House Science Subcommittee on Energy and Environment.

“USGS estimates that the Green River Formation contains about 3 trillion barrels of oil, and about half of this may be recoverable, depending on available technology and economic conditions,” Mittal testified.

“The Rand Corporation, a nonprofit research organization, estimates that 30 to 60 percent of the oil shale in the Green River Formation can be recovered,” Mittal told the subcommittee. “At the midpoint of this estimate, almost half of the 3 trillion barrels of oil would be recoverable. This is an amount about equal to the entire world's proven oil reserves.”

In her oral statement before the subcommittee, Mittal said that developing the shale oil would create wealth and jobs for the country, but also challenges for government.

“Being able to tap this vast amount of oil locked within this formation will go a long way to help to meet our future demands for oil. The U.S. Geological Survey, as you noted, estimates that the formation contains about 3 trillion barrels of oil of which half may be recoverable,” she said.

“As you can imagine having the technology to develop this vast energy resource will lead to a number of important socioeconomic benefits including the creation of jobs, increases in wealth and increases in tax and royalty payments for federal and state governments,” she said.

“While large-scale oil-shale development offers socioeconomic opportunities it also poses certain socioeconomic challenges that also should not be overlooked,” she testified. “Oil shale development like other extractive industries can bring a sizable influx of workers who along with their families put additional stressed on local infrastructure. Development from expansion of extractive industries has historically followed a boom-and-bust cycle making planning for growth difficult for local governments.”

In her written testimony , Mittal noted that three-fourths of the Green River shale oil is under federal land.

“The federal government is in a unique position to influence the development of oil shale because nearly three-quarters of the oil shale within the Green River Formation lies beneath federal lands managed by the Department of the Interior’s (Interior) Bureau of Land Management (BLM),” she testified.


TOPICS: Business/Economy; News/Current Events; US: Colorado; US: Utah; US: Wyoming
KEYWORDS: colorado; energy; oilshale; utah; wyoming
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If Obama and his thug cabinet chairmen stay in office the oil will stay in the ground.
1 posted on 05/11/2012 4:09:29 PM PDT by jazusamo
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To: jazusamo
making planning for growth difficult for local governments.

Potomac-speak for: "why should the local guys get all the payolla?"

2 posted on 05/11/2012 4:18:51 PM PDT by the_Watchman
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To: jazusamo

——couple of problems with the “shale” oil-—there isn’t much of it per ton of material and it is VERY well dispersed in the rock also-—


3 posted on 05/11/2012 4:20:34 PM PDT by rellimpank (--don't believe anything the media or government says about firearms or explosives--)
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To: jazusamo

With so many of his commies already in-place in the criminal, criminal EPA, Commerce, DOT and other corrupt Federal/State Agencies, permits for Federal Land exploration/drilling and new refineries will be delayed/denied for the next 20-50yrs.

If he gets another 4yrs, America - as we know it - is gone.


4 posted on 05/11/2012 4:22:21 PM PDT by carriage_hill (((.)))
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To: jazusamo

I thought proven reserves had peaked. Who knew?


5 posted on 05/11/2012 4:23:54 PM PDT by Former Proud Canadian (Obamanomics-We don't need your stinking tar sands oil, we'll just grow algae.)
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To: jazusamo

The article uses the terms “oil shale” and “shale oil” interchangeably. They are to different things. The Green River Formation contains oil shale that is not oil, but a substance called kerogen that can be converted to oil, but using current technolgy is very expensive and energy input intensive. Articles that imply that oil shale is equivalent to the shale oil that is being found in North Dakota are misleading.


6 posted on 05/11/2012 4:24:22 PM PDT by Okieshooter
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To: Okieshooter

—thanks—good to see somebody else on one of these threads who knows what he is talking about-—( I was in on many an “oil shale” feasibility study thirty years ago during the last go-around)


7 posted on 05/11/2012 4:32:27 PM PDT by rellimpank (--don't believe anything the media or government says about firearms or explosives--)
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To: jazusamo

Thats exactly WHY the Keystone pipeline was killed..
The pipeline would go right by the oil sands and shale..

Can’t the rubes “Jonesing” for all that oil...
Only would have been a matter of time before they put 2x2 together..

If Romney didnt want to take a “dive” in this election..
He would shout this from the housetops..

Unfortunately like Juan McLame he wants to take a dive..
And will act like this DIDN’T HAPPEN...


8 posted on 05/11/2012 4:32:40 PM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole...)
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To: jazusamo

We’ll never get any of this oil as long as O’failure is in the White House.


9 posted on 05/11/2012 4:37:01 PM PDT by Signalman ( November, 2012-The End of an Error)
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To: Okieshooter

Thanks for your post, I was unaware of that.


10 posted on 05/11/2012 4:37:46 PM PDT by jazusamo ("Intellect is not wisdom" -- Thomas Sowell)
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Please bump the Freepathon or click above and donate or become a monthly donor!

11 posted on 05/11/2012 4:38:27 PM PDT by jazusamo ("Intellect is not wisdom" -- Thomas Sowell)
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To: rellimpank
—couple of problems with the “shale” oil-—there isn’t much of it per ton of material and it is VERY well dispersed in the rock also-—

The simple way to get it out is heat, Fracking and time. $35 per barrel The Denver Post said. That is why the big deal is manufactured on fracking. Salizar never saw any oil he did not like.

12 posted on 05/11/2012 4:40:12 PM PDT by mountainlion (I am voting for Sarah after getting screwed again by the DC Thugs.)
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To: rellimpank

“—thanks—good to see somebody else on one of these threads who knows what he is talking about-—( I was in on many an “oil shale” feasibility study thirty years ago during the last go-around)”

Yes, it makes me crazy sometimes and the they throw the Canadian “oil sands” into the mix an it becomes vey confusing to the layman. I wish they would just call it what it is, kerogen. The typical journalist doesn’t have the intelligence to understand the difference if it is explained to them.


13 posted on 05/11/2012 4:41:08 PM PDT by Okieshooter
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To: rellimpank

“—thanks—good to see somebody else on one of these threads who knows what he is talking about-—( I was in on many an “oil shale” feasibility study thirty years ago during the last go-around)”

Yes, it makes me crazy sometimes and the they throw the Canadian “oil sands” into the mix an it becomes vey confusing to the layman. I wish they would just call it what it is, kerogen. The typical journalist doesn’t have the intelligence to understand the difference if it is explained to them.


14 posted on 05/11/2012 4:41:16 PM PDT by Okieshooter
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To: rellimpank

“—thanks—good to see somebody else on one of these threads who knows what he is talking about-—( I was in on many an “oil shale” feasibility study thirty years ago during the last go-around)”

Yes, it makes me crazy sometimes and the they throw the Canadian “oil sands” into the mix an it becomes vey confusing to the layman. I wish they would just call it what it is, kerogen. The typical journalist doesn’t have the intelligence to understand the difference if it is explained to them.


15 posted on 05/11/2012 4:41:18 PM PDT by Okieshooter
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To: jazusamo

They don’t want any Ellis Wyatts popping up just when they’ve got most major American corporations co-opted as arms of government.


16 posted on 05/11/2012 4:43:47 PM PDT by Mr. Jeeves (CTRL-GALT-DELETE)
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To: jazusamo
And it is all under federally owned property...

hmmmmmmmmmmmmm!

17 posted on 05/11/2012 4:44:17 PM PDT by IrishPennant (Are you behind a "Blade of Grass?")
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To: Okieshooter

Sorry for the triple post. My sorry Internet connection got me again.:-(


18 posted on 05/11/2012 4:44:55 PM PDT by Okieshooter
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To: jazusamo

Why not erect a thousand ugly windmills like they did in West Texas?

And to think that these very windmills may be the cause of climate change because of the effect that they have on nighttime temperatures caused by air turbulence at ground level.


19 posted on 05/11/2012 4:49:26 PM PDT by 353FMG
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To: Okieshooter

I believe they have some water table issues that complicate things. The water and shale oil are at the same depths.


20 posted on 05/11/2012 5:01:39 PM PDT by Recon Dad (Gas & Petroleum Junkie)
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