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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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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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To: KeyLargo

This is all such artificial manipulation.


51 posted on 11/13/2012 3:18:14 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: null and void

LOL, you know even a lot of FR’s won’t get that.


52 posted on 11/13/2012 3:19:02 PM PST by Fledermaus (The Republic is Dead: Collapse the system. Let the Dems destroy the economy!)
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To: Hot Tabasco

—— Where the frack did all those dinosaurs come from? ——

They live in the center of the earth.


53 posted on 11/13/2012 3:20:17 PM PST by St_Thomas_Aquinas (Viva Christo Rey!)
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To: Fledermaus
I'm beginning to appreciate that more every day.
54 posted on 11/13/2012 3:32:18 PM PST by null and void (America - Abducted by Aliens...)
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To: Hot Tabasco

it’s not actually fossil fuels, do a little research and you’ll see where it actually comes from, and yes it’s renewable.


55 posted on 11/13/2012 3:43:34 PM PST by Bulwyf
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To: PMAS
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 ?

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.

56 posted on 11/13/2012 3:49:04 PM PST by marron
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To: HiTech RedNeck

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.


57 posted on 11/13/2012 4:06:58 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

“Obama will make sure we can’t access it!”

My thought exactly. The EPA will end this dream.


58 posted on 11/13/2012 4:13:12 PM PST by pallis
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To: Bulwyf
do a little research and you’ll see where it actually comes from, and yes it’s renewable.

Ya think? You're not kidding me are you?

59 posted on 11/13/2012 4:15:19 PM PST by Hot Tabasco (Jab her with a harpoon.....)
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To: hollywood

Maybe because now 0zero clearly owns this economy and they have got no other plan.


60 posted on 11/13/2012 4:17:43 PM PST by PMAS (All that is necessary for the triumph of evil is that good men do nothing)
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