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May 13, 2012
GAO: Recoverable shale oil in US 'about equal to entire world's proven oil reserves'
This is interesting but, as you'll see, not really a game changer. CNS News: 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 said 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 have an environmental impact and pose "socioeconomic challenges," that 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...(Read Full Post)