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An American Oil Find That Holds More Than All of OPEC (Several Times of All Oil Ever Used)
ABC News ^ | November 13, 2012 | Alan Farnham

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 ...


TOPICS: Extended News; Government; News/Current Events
KEYWORDS: colorado; energy; greenriverformation; oil; oilfind; opec; shale; utah
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"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 amount of oil reportedly discovered is mind-boggling, a most auspicious, fortuitous development for America. This isn't happening tomorrow but the implications of which are huge, changes everything. Imagining the huge problems we face, particularly the budget deficit that Obama has been using as his #1 tool in destroying America the shale oil boom has the capacity to certainly ameliorate, if not eventually resolve the financial catastrophe we've been facing. I don't know how the scenario will play itself out but this discovery seems to be a godsend for us all.

1 posted on 11/13/2012 2:12:23 PM PST by lbryce
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To: lbryce

Obama will make sure we can’t access it!


2 posted on 11/13/2012 2:13:42 PM PST by ROLF of the HILL COUNTRY
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To: lbryce

Countdown till it’s shut down by Obama.

10,9,8...

Oh, if it’s allowed to be drilled, once it’s in operation, countdown till China ‘collects’ it debt.

10,9,8...


3 posted on 11/13/2012 2:14:17 PM PST by autumnraine (America how long will you be so deaf and dumb to the tumbril wheels carrying you to the guillotine?)
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To: lbryce

Why all of a sudden are wee seeing all of these stories about abundant oil in the US and the US has more that Saudi Arabia ?


4 posted on 11/13/2012 2:16:50 PM PST by PMAS (All that is necessary for the triumph of evil is that good men do nothing)
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To: ROLF of the HILL COUNTRY

New National Wilderness Park.


5 posted on 11/13/2012 2:17:16 PM PST by Dr. Bogus Pachysandra ( Ya can't pick up a turd by the clean end!)
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To: ROLF of the HILL COUNTRY

Abortion!

0bama commands it in this case.


6 posted on 11/13/2012 2:18:34 PM PST by Uncle Miltie (0BAMA CHOSE to watch a MUSLIM SNUFF FILM rather than a HEROIC AMERICAN RESCUE FILM)
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To: lbryce

I guess peak oil got pushed out a few years....


7 posted on 11/13/2012 2:19:50 PM PST by TheDon (In 2012, American voters chose European style big gov't.)
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To: lbryce

Gotta harvest, transport, and refine it.

The EPA will say Nay, Nay, and Nay to all three.

It’s fun to dream, though. We’re rich, Granny.


8 posted on 11/13/2012 2:20:08 PM PST by lurk
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To: lbryce

I thought all the oil to be found had already been found and we were rapidly running out.

Doesn’t matter. EPA (Obama) won’t allow it.


9 posted on 11/13/2012 2:20:15 PM PST by ilovesarah2012
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To: lbryce

But, but, but, what about the polar bears?


10 posted on 11/13/2012 2:20:15 PM PST by Drill Thrawl (We have crossed the line from independence & liberty to dependency & servitude. We are doomed)
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To: lbryce

No point in drilling, we wouldn’t see the oil for ten years...


11 posted on 11/13/2012 2:20:27 PM PST by null and void (America - Abducted by Aliens...)
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To: lbryce

There’s a REASON the Obamatrons are determined to cripple “fracking” technology. God forbid we unlock huge amounts of shale gas and oil. Abundant energy would prevent us from being brought to our knees. The EPA is going to attack this imminently as a result.


12 posted on 11/13/2012 2:20:36 PM PST by rockvillem
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To: PMAS

The trick will be that ALL future oil/gas wells will be on government property and 99% of the royalties will go to the Feds and 1% to the state AND THEN BOTH THE STATE AND THE FEDS WILL TAX the consumers.


13 posted on 11/13/2012 2:20:36 PM PST by Sacajaweau
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To: lbryce; All
If I am not mistaken, this shale is different than extracting via fracking. I thought I read they could excite the oil out of the shale via a microwave device sent down the drill hole to the extraction field.

If not, get the Israeli's on it, I heard the Golan heights are loaded with it, and they figured out a way to extract it for $19 / barrel equivalent....

14 posted on 11/13/2012 2:26:46 PM PST by taildragger (( Tighten the 5 point harness and brace for Impact Freepers, ya know it's coming..... ))
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To: ROLF of the HILL COUNTRY

Obama will make sure we can’t access it!

well if no one tells Obama ,he’ll never know


15 posted on 11/13/2012 2:27:21 PM PST by molson209
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To: lbryce
Yes it is a Godsend but the evil EPA And there are significant environmental obstacles will control us NOT getting what God has stored there for us. Good vs. Evil. I say go for it. If we don't accept what He gave us, we lose it. Fear is the absence of faith. Will they be fearful or faithful? If fearful, we don't get it. If faithful, no devil in hell can stop us. Good thread, thanks.
16 posted on 11/13/2012 2:30:51 PM PST by presently no screen name
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To: lbryce

Peak oil my a$$.


17 posted on 11/13/2012 2:32:04 PM PST by Mike Darancette (I don't understand why the Boomers are so passive.)
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To: lbryce

I hate to burst y’alls bubble but this is the same old oil shale that has been referred to for a long long time. It is immature kerogen. It is not mobile and has to be heated for extraction. This is the same oil shale Exxon and others tried to exploit in the Book Cliffs near Parachute, Colorado.

Been there and done that 30 years ago.

http://www.denverpost.com/opinion/ci_20543843/boom-and-bust-and-boom

The operative clause in the article is “trying to unlock”.

It is still there, the potential resource is immense. This is also the same resource that obastard just sequestered 1.6 million acres of I believe.

This is just feel good hype brought to you by your “friends” from obastardland. More feel good hopium for the proletariat. Do you want to join them in believing this crap?


18 posted on 11/13/2012 2:34:11 PM PST by Sequoyah101
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To: PMAS

Yeah, something doesn’t seem right here. The election was only one week ago and now this is news!? Did someone, within the last week, go out into a field, start drilling, and just happen upon the mother of all oil reserves? It’s pure BS. Some agenda - not sure what - is being played out here, that’s for sure, with the usual lsm bucket boys carrying for Zero.


19 posted on 11/13/2012 2:34:50 PM PST by hollywood (Stay on topic, please.)
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To: Drill Thrawl

Exactly. Before we can drill, the EPA will gave to do a 25 year study to see how this will affect the polar bears in Utah and Colorado /s


20 posted on 11/13/2012 2:37:57 PM PST by lowbridge (Joe Biden: "Look, the Taliban per se is not our enemy.")
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To: ilovesarah2012
I thought all the oil to be found had already been found and we were rapidly running out.

The evil greenies will always believe that. I would guess in 10 years, trillions more barrels of oil will be discovered around the world.

The world would have very cheap energy if governments would get the H*ll out of the way.

21 posted on 11/13/2012 2:39:39 PM PST by sand88
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To: Dr. Bogus Pachysandra

“New National Wilderness Park.”

“They” will find an endangered three-toed grub whose “range” happens to completely cover the area...


22 posted on 11/13/2012 2:43:33 PM PST by The Antiyuppie ("When small men cast long shadows, then it is very late in the day.")
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To: Drill Thrawl

Exactly. Before we can drill, the EPA will have to do a 25 year study to see how this will affect the polar bears in Utah and Colorado /s


23 posted on 11/13/2012 2:43:33 PM PST by lowbridge (Joe Biden: "Look, the Taliban per se is not our enemy.")
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To: thackney

Ping.


24 posted on 11/13/2012 2:43:58 PM PST by Army Air Corps (Four Fried Chickens and a Coke)
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To: autumnraine

Well, it will be tree waiting for us to come to our senses. Maybe when gas hits 10 dollars a gallon.


25 posted on 11/13/2012 2:47:16 PM PST by Kozak (The Republic is dead. I do not owe what we have any loyalty, wealth or sympathy.)
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To: lbryce

I saw the movie. He set it on fire and moved to Galts Gulch!


26 posted on 11/13/2012 2:49:51 PM PST by C. Edmund Wright ("WTF?: How Karl Rove and the Establishment Lost....Again")
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To: PMAS

It ain’t new. Shale oil is there for the taking by anyone who can take it economically enough to make it worthwhile, and who can weather the brickbats of greenies who don’t want people to go into the shale fields, process the shale, and leave behind de-oiled shale residue.


27 posted on 11/13/2012 2:52:29 PM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
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To: Sequoyah101
It is immature kerogen.

You are correct, but think of the marketing potential:

"It's not regular, dirty petroleum, it's GREEN petroleum!"

28 posted on 11/13/2012 2:57:39 PM PST by sima_yi ( Reporting live from the far North)
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To: Sequoyah101

Yeah, and bait for more Solyndrazation.


29 posted on 11/13/2012 2:57:44 PM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
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To: Sequoyah101

And from what I remember, there ain’t enough water in the West to mine the stuff and crack it.


30 posted on 11/13/2012 3:00:13 PM PST by crusty old prospector
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To: lbryce

The rare gay Kenyan grasshopper rat has been discovered and the land has to be locked up


31 posted on 11/13/2012 3:00:15 PM PST by 2nd Amendment (Who is John Galt?)
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To: Kozak

It will be there...


32 posted on 11/13/2012 3:00:45 PM PST by Kozak (The Republic is dead. I do not owe what we have any loyalty, wealth or sympathy.)
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To: sima_yi

Well, the BP people already have green decoration on their gas stations.

Truly, they are welcome to try to see what they can make of the shale kerogen. But I smell more oil price manipulation (upward) in the wind.


33 posted on 11/13/2012 3:00:45 PM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
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To: ilovesarah2012

All the EASY oil has been found. This is the hard stuff.........


34 posted on 11/13/2012 3:01:35 PM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: crusty old prospector

I’d ask why it has to be water at all. Why not more oil of the same kind that is being extracted. Pump in hot oil, pump out more hot oil than you had.


35 posted on 11/13/2012 3:02:38 PM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
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To: Red Badger

Isn’t this rock-absorbed oil almost a sort of coal? Maybe it’s being treated all wrong.


36 posted on 11/13/2012 3:04:03 PM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
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To: PMAS

I think this is the $64,000 question. The obvious answer is the crap media and the election.

However, I have been thinking the last few days that this might be part of the plan. The economy is the Amateur’s Achilles heel. An economy roaring back under the auspices or supervision of our traitor occupant in the WH (can’t say it) might just cripple the GOP for all time...literally render them irrelevant. If the oil is “discovered” and “managed” by this fraud and his immoral party and they usher in a quasi-boom in the economy....how do you get them out then? Our stupid fellow citizens cannot even figure out who to vote for as their house is being foreclosed on...what do you think they’ll do when the US gov’t has trillions more to redistribute?

Did they delay announcing this so they could be the heroes who find it, develop it, and create a well funded socialist utopia?


37 posted on 11/13/2012 3:04:26 PM PST by my small voice (A biased media and an uneducated populace is the biggest threat to our nation.)
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To: rockvillem
There’s a REASON the Obamatrons are determined to cripple “fracking” technology. God forbid we unlock huge amounts of shale gas and oil. Abundant energy would prevent us from being brought to our knees. The EPA is going to attack this imminently as a result.

Your right, not on our knees to a Saudi Puke, But to them they will not let you be free with out own resources.. They don't want you driving an SUV that can tow a boat to a lake that gets you away from their socialist conclaves they call cities, how dare you escape! How dare you drink slurpie larger than 16oz! How dare you eat french fries rather than Mooochelle apple slices.

I am in a cranky @$$ mood and I am so ticked off at these statist I need some Beck duct-tape to keep my head from exploding...

38 posted on 11/13/2012 3:04:50 PM PST by taildragger (( Tighten the 5 point harness and brace for Impact Freepers, ya know it's coming..... ))
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To: lbryce
I guess peak oil got pushed out a few years....

Try a few centuries. They mentioned underground streams. Just tap the streams and take the oil they leach out, except there are no underground streams.

This oil has been known for over 50 years so it is not like it is something new. Salazar killed shale oil when he was in Colorado. Simple horizontal drilling and heat can release the oil. The remaining oil could be turned into methane with bacteria.

39 posted on 11/13/2012 3:06:26 PM PST by mountainlion (Live well for those that did not make it back.)
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To: Sequoyah101

See post 14, what do you know about using microwaves and what the Israeli’s have done?


40 posted on 11/13/2012 3:07:16 PM PST by taildragger (( Tighten the 5 point harness and brace for Impact Freepers, ya know it's coming..... ))
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To: Red Badger

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.


41 posted on 11/13/2012 3:09:57 PM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
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To: ROLF of the HILL COUNTRY

I agree, somehow he will put an end to this.


42 posted on 11/13/2012 3:10:14 PM PST by Venturer
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To: taildragger
get the Israeli's on it, I heard the Golan heights are loaded with it, and they figured out a way to extract it for $19 / barrel equivalent....

That's terrific news. Good for Israel.

43 posted on 11/13/2012 3:10:54 PM PST by ROCKLOBSTER (Celebrate "Republicans Freed the Slaves" Month)
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To: lbryce

Does this mean we are all going to have to wear “man-dresses” like the Arabs and sandals???


44 posted on 11/13/2012 3:12:03 PM PST by BCW (http://babylonscovertwar.com/index.html)
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To: my small voice

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.


45 posted on 11/13/2012 3:12:04 PM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
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To: lbryce

Where the frack did all those dinosaurs come from?


46 posted on 11/13/2012 3:12:42 PM PST by Hot Tabasco (Jab her with a harpoon.....)
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To: lbryce

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/


47 posted on 11/13/2012 3:14:46 PM PST by KeyLargo
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To: lbryce

It’s racism to use this drill or use this oil. We must let the Chinese drill for it./s


48 posted on 11/13/2012 3:16:03 PM PST by Dallas59 (President Robert Gibbs 2009-2011)
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To: ROCKLOBSTER

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.


49 posted on 11/13/2012 3:16:52 PM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
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To: lbryce

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)


50 posted on 11/13/2012 3:17:04 PM PST by Fledermaus (The Republic is Dead: Collapse the system. Let the Dems destroy the economy!)
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