We are awash with oil

Posted by: Phineas on May 14, 2012 at 12:02 pm

**Posted by Phineas

How much do we have? Try more than the rest of the world, combined:

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 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.

Sadly, most of this sits on federal lands, and we know what that means: no drilling, no fracking, no how. This administration is enslaved to a chimerical “Green agenda” that treats anything to do with fossil fuels the way a vampire would garlic, and instead wants to flush billions down the drain in pursuit of alternative energy sources that are nowhere economically viable. In fact, boondoggles like wind farms and solar can only exist via taxpayer subsidies, increasing costs for everyone and destroying genuinely productive jobs in the process.

Meanwhile, we sit figuratively chained, forbidden to take those rational steps to develop and exploit our vast resources (1) safely and with due regard for environmental stewardship, all while restoring prosperity to our economy and pushing us toward energy self-sufficiency.

The Obama administration’s energy policies aren’t just stupid and they aren’t just destructive — they’re immoral.

RELATED: More from Hot Air. Power Line demolishes the president’s “two-percent lie.”

Footnote:
(1) And this doesn’t even include Canadian resources, or that available in the Bakken formation.

(Crossposted at Public Secrets)

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2 Responses to “We are awash with oil”

Comments

  1. Brian72 says:

    Incredibly, in this discussion no one seems to be mentioning one of the longest standing cases of Federal Government obstruction of energy development, and that is of course ANWAR, the Alaska National Wildlife Refuge, which contains a parcel of land that can provide access to many billions of barrels of good crude oil, and many trillions of cubic feet of natural gas.

    Even President Jimmy Carter knew America would need this storehouse of vast energy one day, so the language creating the refuge specifically sets aside that parcel for development in the future. The reason it isn’t yet is because of the liberals from places like NYC, Boston, San Francisco, ect. keep blocking any passage of lifting the ban on development there.

    There are also more energy resources off the western and northern coasts of Alaska. Shell is ready to explore in the Chukchi Sea, but has to deal with enviro-obstructionists who don’t want any more drilling anywhere for any reason anytime.

    Alaska alone is so vast, who knows what lies yet undiscovered up there?
    What minerals and metals may yet be discovered in huge quantities in those massive, remote mountain ranges?
    The liberals don’t even want anyone to be given permission to look.

    It is insane.

  2. Drew the Infidel says:

    Wonderful analogy comparing the greenies to vampires, who also cannot see themselves in a mirror. I have worked on many a fracture treatment (or “frack”) job and trust me when I say it is beneficial technology and not something from “The X Files”. If we intelligently developed our own reserves the Arabs would be back in the goat business overnight.