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-- U.S. finds 2 Trillion Barrels of oil...within it's own borders
U.S. finds 2 Trillion Barrels of oil...within it's own borders
Wow...lets see if big business is willing to part with it's foreign investments though...
Here's a snippet but there's much more.
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The U.S. Govt�s Secret Colorado Oil Discovery Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world � more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. Three companies have been chosen to lead the way. Test drilling has already begun... Dear Reader, Very recently, the U.S. Energy Department announced the results of a land survey... It was conducted to determine the official amount of oil a thousand feet deep in the Rocky Mountains... They reported this stunning news: We have more oil inside our borders, than all the other proven reserves on earth. Here are the official estimates: * 8-times as much oil as Saudi Arabia * 18-times as much oil as Iraq * 21-times as much oil as Kuwait * 22-times as much oil as Iran * 500-times as much oil as Yemen ...And it�s all right here in the Western United States. |
This is nothing new. It was reported a hundred years ago in a Colorado newspaper. The caveat ... it's shale oil.
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Oil shale enthusiasm resurfaces in the West GRAND JUNCTION, Colo. � The headline on the newspaper that state Rep. Bernie Buescher keeps in a box at home captures the allure of the vast petroleum riches under the rolling hills and arid mesas north of this western Colorado city. "Oil Shale Development Imminent," the paper reads. That edition of the defunct Grand Junction News, Buescher notes, was published at the dawn of the 20th century. More than a hundred years later, instability is roiling world oil markets, and Americans are paying $3 a gallon for gas. And oil shale fever is again rising in the geologic region known as the Piceance Basin, part of the Green River Formation that stretches across the rugged plains of northwestern Colorado and parts of Wyoming and Utah. There is no dispute that a thousand feet below the isolated ranch country here on Colorado's western slope lie almost unimaginable oil riches. It's locked in sedimentary rock � essentially immature oil that given a few million years under heat and pressure would produce pools of oil easy to extract. The Energy Department and private industry estimate that a trillion barrels are here in Colorado � about the same amount as the entire world's known reserves of conventional oil. The entire Green River Formation might hold as much as 2 trillion barrels. Pushed by the Bush administration and legislation from Congress last year, and spurred by oil prices above $70 a barrel, the energy industry is mobilizing to unlock the secret of oil shale. As it has before, oil shale holds out the hope of a USA no longer dependent on foreign oil. Testing a new approach In a remote area of Rio Blanco County, nestled between dusty ridges covered with sagebrush and pinyon and juniper trees, Shell Oil is engaged in a multiyear test of a new technology for extracting the oil. Previous efforts that were uneconomical and environmentally destructive entailed mining the rock, crushing it and heating it above ground to release the oil. Shell's new process involves sinking heaters deep underground, cooking the rock at 700 degrees and recovering the oil and natural gas with conventional drilling. For a decade, Shell has been ramping up its research on private property here. It is also one of a handful of companies vying for research and development leases on larger tracts of federal land nearby. That could lead to full-scale development across 1,200 square miles of western Colorado. Early results are promising, says Terry O'Connor, a vice president in the oil giant's unconventional resource division. But, he admits, "no one has been able to develop oil shale on a commercially sustainable basis." Shell has four more years of research here before it will know if it has the answer. U.S. Sen. Pete Domenici, R-N.M., who heads the Senate Energy and Natural Resources Committee, was less cautious at a tour of Shell's test site Wednesday: "This is not pie in the sky. It's real this time." Such talk has swept this region before, most memorably in the wake of the energy crisis of the 1970s. Longtime residents remember how it ended on May 2, 1982 � "Black Sunday" � when Exxon abruptly canceled its $5 billion Colony Shale Oil Project, laid off more than 2,000 workers and left a trail of home foreclosures and economic distress. Now, said U.S. Sen. Ken Salazar, D-Colo., who accompanied Domenici on the tour, "we have a tourism-based economy on the western slope, and we will not do anything ... that will endanger that sustainability." Though oil shale has "great potential," Salazar said, "there's also great risk." A RAND Corp. study last year for the Energy Department said that "the prospects for oil shale development are uncertain," though new technology could make it competitive with conventional oil. Producing 3 million barrels a day � about 15% of U.S. consumption � "is probably more than 30 years into the future," the study said. Among the possible negative effects cited by RAND were large scale land disruption, air pollution, a large population influx in a rural area, and a huge demand for water in a region where it's scarce and, as Salazar said, "as precious as oil." Randy Udall, of the Community Office for Resource Efficiency that promotes energy conservation in Carbondale, Colo., pointed out another drawback: the huge demand for electricity to cook the shale. "To do 100,000 barrels a day ... we would need to build the largest power plant in Colorado history." 'We ... need to get it right' This region's bitter experience with the boom-and-bust of oil shale was on display Thursday as Domenici and Salazar held a hearing before an overflow crowd at the city auditorium here. Outside, critics hawked T-shirts urging "Go Slow on Oil Shale." Inside, state and county officials said they welcome energy development but worry about the costs of providing roads, housing and other needs if a new boom arrives. "Most of us agree it's time for the development of oil shale," said Russell George of Colorado's Department of Natural Resources. "But we really do need to get it right." A letter from 17 county and city officials noted, "When oil shale is mentioned on the Western Slope of Colorado it is discussed as an industry that brought our economy and communities to their knees." And Buescher, the Democratic state legislator, thought of that ancient newspaper headline. "They may be able to make it work," he said, "but I'm skeptical." http://www.usatoday.com/news/nation...oil-shale_x.htm |
So maybe Saudi Arabia will invade America to steal all their oil?!
I thought it was quite common knowledge that US has subtantially large oil reserves, but they are saving it right now and using old outdated pumps to limit production... and when the Middle East countries will have no oil left, US will rule this planet!!
yea I knew about this as well. The reason it hasnt been extracted yet is because oil shale is more expensive to do.
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| Originally posted by occrider This is nothing new. It was reported a hundred years ago in a Colorado newspaper. The caveat ... it's shale oil. So is this issue reemerging for any other reason than the price of gasoline being ridiculously high? Btw if you read through the source you cited, it's such a telemarketing scam that it's ridiculous ... particularly with headlines such as, "How to Make a Fortune in Oil". But hey you're more than welcome to purchase a "trial" issue for The Oil Report (a bargain at $199 a year) and invest your savings in shale oil if you find them so credible. As always, put your money where your mouth is ... |
Just like in the 70s when the Oil Embargo made things rough, they thought they could extract it.
However oil-shale is VERY difficult to extract and proved to be a bit like fusion. More energy in than you get out.
But more importantly, just as they were getting started back in the 70s with oil shale drilling; the crisis cleared up and people were able to buy their oil for cheap again.
I'm not a very informed person, but my grandfather is a geologist and both him and my parents have lived in Grand Junction, CO for over 25 years.
As OCC said. This is nothing new.
here is some >decent info< on oil shale recovery.
thats a lot of oil. hard to ignore at just 1000' rock. Chavez can lick a turd as far i'm concerned.
i also heard that America produces all of it's oil on only 25% of the land the Feds set aside to drill on. anyone else hear of that?
ALl I have to say is to drop down into the wells some midgits with frickin' laser beams attached to their heads,,, thats the way to mine the shale!!
and yes purple, the US will rule the world
y
Now this is a bit more newsworthy ...
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Chevron says Gulf drilling a success Well could become the nation's biggest new domestic source of oil, according to newspaper report. September 5 2006: 12:36 PM EDT NEW YORK (Reuters) -- Chevron Corp. said Tuesday it had successfully drilled for oil in the Gulf of Mexico's deep waters, in what could be one of the most significant finds for the domestic oil industry in a generation. The successful well, known as Jack 2, reached a record total depth of 28,175 feet, coming in 7,000 feet of water and more than 20,000 feet under the sea floor. Analysts said the find suggested the success of that drilling may mean more oil than previously believed is available under the Gulf of Mexico, a region that already provides a quarter of U.S. output. One published report suggested the breakthrough could increase U.S. oil reserves by as much as 50 percent. During the test at record depths and pressure, the Jack No. 2 well flowed at more than 6,000 barrels of crude per day, Chevron (Charts) said. That puts it on a par with discoveries in exploration hot spots such as the waters off Angola. With U.S. oil output in decline, big new fields are increasingly rare, and oil companies are widening their search to more difficult places Chevron, the No. 2 U.S. oil company after Exxon Mobil (Charts), did not give an estimate of the field's reserves. The Wall Street Journal cited Chevron officials as estimating recent discoveries in the Gulf of Mexico could hold as much as 15 billion barrels of oil and gas reserves. That would boost U.S. current reserves by 50 percent. The region could become the nation's biggest new domestic source of oil since the discovery of Alaska's North Slope more than a generation ago, the Journal said. "This region is proving quite prospective. Certainly the test well results are on the top end of most analysts' ranges," said Jason Kenney, an analyst at ING in London. Mike Wittner of investment bank Calyon cautioned that until the size of the field was known it was difficult to draw conclusions. "It seems to be a significant find and there is still life left in the deepwater Gulf of Mexico, particularly as you move into ultra-deep water," he added. Chevron is the operator of the Jack prospect with a 50 percent working interest. Devon Energy (Charts) and Statoil (Charts) each own a 25 percent working interest. "The results of the Jack test allow Chevron and its co-owners to better understand the deliverability of the emerging lower tertiary trend, a trend where Chevron is the largest leaseholder," said Gary Luquette, Chevron's President, North America Exploration and Production. Chevron was not immediately available for further comment. Chevron first announced the discovery of the Jack prospect in September 2004. It is 270 miles southwest of New Orleans and 175 miles offshore. The test on Jack 2 broke Chevron's 2004 Tahiti well-test record as the deepest successful well test in the Gulf of Mexico. More than half a dozen world records for test equipment pressure, depth and duration in deep water were set during the Jack well test, Chevron said. Chevron and its co-owners plan to drill an additional appraisal well in 2007. Chevron said it is the largest leaseholder in the deepwater Gulf of Mexico and is currently developing the $3.5 billion Tahiti project, scheduled to commence production in 2008. http://money.cnn.com/2006/09/05/new...dex.htm?cnn=yes |
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| Originally posted by Fir3start3r |
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| Originally posted by occrider This is nothing new. It was reported a hundred years ago in a Colorado newspaper. The caveat ... it's shale oil. So is this issue reemerging for any other reason than the price of gasoline being ridiculously high? Btw if you read through the source you cited, it's such a telemarketing scam that it's ridiculous ... particularly with headlines such as, "How to Make a Fortune in Oil". But hey you're more than welcome to purchase a "trial" issue for The Oil Report (a bargain at $199 a year) and invest your savings in shale oil if you find them so credible. As always, put your money where your mouth is ... |
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| Originally posted by DJFreaq Just like in the 70s when the Oil Embargo made things rough, they thought they could extract it. However oil-shale is VERY difficult to extract and proved to be a bit like cold fusion. More energy in than you get out. But more importantly, just as they were getting started back in the 70s with oil shale drilling; the crisis cleared up and people were able to buy their oil for cheap again. I'm not a very informed person, but my grandfather is a geologist and both him and my parents have lived in Grand Junction, CO for over 25 years. As OCC said. This is nothing new. |
Except I don't know why I said "cold fusion" since it doesn't exist.
I meant simply "fusion."
Whoops. I blame sleep depravation.
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| Originally posted by occrider Now this is a bit more newsworthy ...
|
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| Originally posted by josh4 wow, we better give the oil companies more money so they can expand that drilling! |
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| Originally posted by Q5echo the rest of us will. you just sit back and keep taking advantage. peace. |
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| Originally posted by Q5echo the rest of us will. you just sit back and keep taking advantage. peace. |
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| Originally posted by emc^2 I think Government needs to heavily invest into alternative fuel research. |
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