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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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To: jazusamo

Recoverable vs Proven are 2 different animals ... but that being said “DRILL BABY DRILL”

TT


21 posted on 05/11/2012 5:02:32 PM PDT by TexasTransplant (Radical islam is islam. Moderate islam is the Trojan Horse.)
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To: jazusamo; IrishPennant; zot; Interesting Times

It is interesting that bho is so fixated on kneeling to the enviors that he is blind to the millions or billions of dollars in royalties that the federal government would get from this oil. Just like they seem to have no interest in the nearly 50% drop in royalty income from the closed oil wells in the Gulf of Mexico.


22 posted on 05/11/2012 5:13:05 PM PDT by GreyFriar (Spearhead - 3rd Armored Division 75-78 & 83-87)
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To: mountainlion
--don't believe everything you see in the Denver Post--
23 posted on 05/11/2012 5:16:50 PM PDT by rellimpank (--don't believe anything the media or government says about firearms or explosives--)
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To: rellimpank

—don’t believe everything you see in the Denver Post—

Usually I don’t but this was a good article a few years ago. One guy I talked to at the gas pump said that the Dakota oil was $18/bbl.


24 posted on 05/11/2012 5:26:37 PM PDT by mountainlion (I am voting for Sarah after getting screwed again by the DC Thugs.)
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To: jazusamo
“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."

Let's see: WHO is the head of the Dept. of the Interior?

Oh yeah, Ken Salazar; he who has been held in contempt of FEDERAL court TWICE and was Dear Leader's personally appointed, Far Left Environmentalist EXTREMIST wackjob who pines for us to pay the same for a gal of gas ($8-$10/gal) as Europe.

Anyone believe (HEY, DIOGENESIS AND ALL YOU OTHER HATE-ROMNEY FREEPERS, ARE YOU PAYING ATTENTION?) that if the Fascist, Neo-Commie, Hate-America, Barack Hussein Obama gets re-elected, that there is a snowballs chance in hell that this land will EVER be allowed to be developed?

Yeah, all you so called "PRINCIPLED" Freepers: Go ahead, stay home or write in some others' name and feel good about your decision while the country suffers, if not ends up being destroyed.

25 posted on 05/11/2012 5:28:01 PM PDT by Conservative Vermont Vet (l)
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To: jazusamo

Would someone please tell the MSM idiots this FACT. Even FNS misrepresents this detail on a daily basis.

OOOOOOO, I could just scream. Bwahahahahaha


26 posted on 05/11/2012 6:12:13 PM PDT by chooseascreennamepat (The response to 1984 is 1776.)
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To: Conservative Vermont Vet

No votes for gun-grabbing baby killers.


27 posted on 05/11/2012 6:14:01 PM PDT by TigersEye (Life is about choices. Your choices. Make good ones.)
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To: Conservative Vermont Vet; TigersEye
So called principled FReepers?

If you want to support a gun grabbing baby killer that's your business but don't come on this thread disparaging FReepers who don't agree with your view.

Flip flopper Romney hasn't even gotten the nomination yet.

28 posted on 05/11/2012 6:25:14 PM PDT by jazusamo ("Intellect is not wisdom" -- Thomas Sowell)
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To: GreyFriar

The present administration doesn’t want American oil, because it would reduce the payments to Muslim countries.


29 posted on 05/11/2012 6:30:45 PM PDT by zot
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To: zot

Obviously.
obama does everything to weaken the U.S. and strengthen Islam.


30 posted on 05/11/2012 7:29:55 PM PDT by hoosierham (Freedom isn't free)
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To: GreyFriar

90% of that federal land should have been turned over to the staes and sold to the people 100 years ago.


31 posted on 05/11/2012 7:31:33 PM PDT by hoosierham (Freedom isn't free)
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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-—

Wouldn't the oil-per-ton and the amount of dispersal both be factored into the cost calculations to determine if the oil can be considered recoverable? I'd think that they would have to be included in order to get any reasonable estimate for extraction costs.

32 posted on 05/11/2012 7:45:43 PM PDT by Bob
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To: jazusamo
and the EPA will make it off limits in 5...4...3...2..1...
33 posted on 05/11/2012 7:46:34 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: Mr. Jeeves

Who is John Galt?


34 posted on 05/11/2012 7:48:45 PM PDT by OrioleFan (Republicans believe every day is July 4th, Democrats believe every day is April 15th.)
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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-—

I worked for a BIG Oil Company in the 80’s and 90’s and we owned the leases for the Green River Shale. The oil is extracted after drilling about 2,000 feet and then injecting steam to liquefy the oil. Then it is a simple task to get it to the surface.

The Break even point was calculated at about $30 - $32 dollars per barrel, so it is long over due to stop buying oil from countries that would do us harm if they could.

It is estimated that the Green River Oil Shale is about 75% of the worlds supply of Oil Shale and Louisiana has another 10%.


35 posted on 05/11/2012 9:05:25 PM PDT by DeweyShootem
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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-—

Original article here: http://www.freerepublic.com/focus/f-news/2882067/posts

Well....(no pun intended) they seem to be doing OK in South Texas....

Eagle Ford Activity Generates over $25B in Economic Output in South Tx.

Rig Zone ^ | May 09, 2012 | Karen Boman Posted on May 10, 2012 6:37:06 AM PDT by thackney

Eagle Ford shale activity in 2011 alone generated over $25 billion in economic output, supported over 47,000 full-time jobs and provided $257 million in local government revenue, according to a new study by the Center for Community and Business Research, part of the University of Texas at San Antonio's Institute for Economic Development.

The findings are the result of research into the economic impact of Eagle Ford shale activity in 2011 on a 20-county region in South Texas.

The study found that:

Eagle Ford development resulted in $3.1 billion in salaries and benefits to workers

Provided more than $12.6 billion in gross regional product

Added more than $358 million in state revenues, including $120.4 million in severance taxes

Generated a triple-digit sales tax revenue increase in local counties.

The Eagle Ford presents "an economic opportunity of a lifetime," Mario Hernandez, president of the San Antonio Economic Development Foundation, said.

"The key goal is to increase in investment and jobs. And if the communities will partner with the private companies that are creating these jobs, it can be a win-win for everybody," Hernandez said in a statement.

And all of the above on a rate of 160,000 barrels a day by end 2011.

36 posted on 05/11/2012 9:53:41 PM PDT by spokeshave (If Obama is Lenin....who are Trotsky and Stalin...?)
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To: spokeshave

The Eagle. Ford is “shale oil” not “oil shale” (kerogen) like the Green River Formation. You are falling for the same misinformation that I spoke about in my earlier posts.


37 posted on 05/11/2012 10:09:07 PM PDT by Okieshooter
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To: Okieshooter

OK...Thanks....but if they can get it out from 2000 ft with steam injection....that’s going to be a lot of water.....tanker drivers pick up the phone...there’s going to be lots of work.


38 posted on 05/11/2012 10:28:50 PM PDT by spokeshave (If Obama is Lenin....who are Trotsky and Stalin...?)
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To: Okieshooter

Green River Formation, kerogen that must be produced by mining and high heat in at a very high cost. They have been working on this idea since the 60’s and it seems every time that the price of oil gets high enough to make it economically viable the costs go up. Maybe some day, but not at today’s price of oil.

http://en.wikipedia.org/wiki/Oil_shale

Eagle Ford, real oil that can be produced economically by horizontal drilling and multistage fracking. BTW fracking is NOT a new technolgy, we have been doing it safely without any environmental damage since the 1940’s.

http://en.wikipedia.org/wiki/Eagle_Ford_Formation


39 posted on 05/11/2012 10:36:13 PM PDT by Okieshooter
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To: spokeshave

“OK...Thanks....but if they can get it out from 2000 ft with steam injection....that’s going to be a lot of water.....tanker drivers pick up the phone...there’s going to be lots of work.”

More misinformation, stream simply is not hot enough to convert kerogen to oil. Read my link above. Besides if it would work the next great shortage for our civilization is going to be water.


40 posted on 05/11/2012 10:44:15 PM PDT by Okieshooter
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To: Okieshooter

Steam injection is typically used to recover heavy oil from sandstone formations and sometimes even this requires mining such as is currently being done in the Canadian tar sands. This is the oil in question to be brought in by the Keystone Pipeline that has the environmentist panties in a wad.

BTW the Keystone pipeline would come nowhere near the Green River Formation, not that it would make any difference, it would however come close to the Balken Shale in North Dakota and Montana that is currently in a horizonal drilling boom and is suffering from a lack of pipeline access that is increasing their transportation costs as much as $30 a barrel.


41 posted on 05/11/2012 11:06:08 PM PDT by Okieshooter
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To: Okieshooter
BTW the Keystone pipeline would come nowhere near the Green River Formation, not that it would make any difference, it would however come close to the Balken Shale in North Dakota and Montana that is currently in a horizonal drilling boom and is suffering from a lack of pipeline access that is increasing their transportation costs as much as $30 a barrel.

And the Keystone XL will, in fact, have a terminal in Baker, MT to serve the Bakken field. I've heard estimates that 300K bbl/day will enter the Keystone system at Baker.

42 posted on 05/11/2012 11:53:04 PM PDT by okie01
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To: spokeshave

-—see post #15-—


43 posted on 05/12/2012 6:08:50 AM PDT by rellimpank (--don't believe anything the media or government says about firearms or explosives--)
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To: the_Watchman

“GAO: Recoverable Oil in Colorado, Utah, Wyoming ‘About Equal to Entire World’s Proven Reserves.”

Aka Pimp-my-Bonds


44 posted on 05/12/2012 6:23:24 AM PDT by Justa
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To: rellimpank
My family has been in the oil business for about 100 years so it is necessary that I be informed on these issues, rather than just knowing what I read in the papers because my livelihood depends on it. Picture below has my father and uncle as young kids on drilling rig floor in 1922, grandfather with hands in pockets.Photobucket Pictures, Images and Photos  
45 posted on 05/12/2012 6:29:07 AM PDT by Okieshooter
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To: Conservative Vermont Vet; Diogenesis; jazusamo
(HEY, DIOGENESIS AND ALL YOU OTHER HATE-ROMNEY FREEPERS, ARE YOU PAYING ATTENTION?)

If you're going to rant at Diogenesis you'll have to ping him to your rants. It's also considered a courtesy when you mention someone in your posts. I have to wonder why you don't ping Mr. Robinson to your temper tantrums too since he feels the same way.

No votes for gun-grabbing baby killers.

46 posted on 05/12/2012 11:52:49 AM PDT by TigersEye (Life is about choices. Your choices. Make good ones.)
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To: TigersEye
It's also considered a courtesy when you mention someone in your posts. I have to wonder why you don't ping Mr. Robinson to your temper tantrums too since he feels the same way.

See what you just did? (or didn't do)

47 posted on 05/12/2012 12:05:45 PM PDT by houeto (https://secure.freerepublic.com/donate/)
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To: houeto

For obvious reasons.


48 posted on 05/12/2012 12:11:35 PM PDT by TigersEye (Life is about choices. Your choices. Make good ones.)
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To: TigersEye
For obvious reasons.

I would have pinged him anyway TigersEye. What the poster did was uncalled for. We're supposed to be operating under a truce now. A truce is a two-way street.

49 posted on 05/12/2012 12:34:08 PM PDT by houeto (https://secure.freerepublic.com/donate/)
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To: houeto

If I had wanted to try and cause him trouble I would have done that.


50 posted on 05/12/2012 12:36:26 PM PDT by TigersEye (Life is about choices. Your choices. Make good ones.)
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