This time, to say, Canadians are not as stupid as Americans. In both cases, the governments control the oil, Canada surface mines theirs, we to hide ours from the public. One thing to know, the oil sands of Alberta, are just an extension of the shale oil in the USA. They are one and the same formation.
The President has recently made a habit of falsely claiming that oil self-sufficiency is impossible because the US has just 2% of the world’s oil reserves. However, congressional testimony given Thursday May 10th reinforces that America is exceedingly rich in natural resources, especially a type of oil reserves known as oil shale.
Actually we the USA have more oil that the world’s known reserves. And coal, we have about 30% of the world’s supply of recoverable coal. And natural gas, no one really knows. Why, we simply have not allowed the gas companies to do any meaningful surveys.
However, the testimony also pointed out that the future development of these resources, 72 percent of which is controlled by the Bureau of Land Management, is largely up to the federal government. The present administration doesn’t seem very eager to get at those (or other) natural resources.
Yep, you want energy independence instead for failed solar and wind companies funded by your tax money, we can do this.
The GAO testimony last week highlighted just how significant the oil shale reserves in the western United States are:
Being able to tap the vast amounts of oil locked within U.S. oil shale formations could go a long way toward satisfying the nation’s future oil demands. 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. 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. 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. 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.
The report makes clear what this level of resource development could mean for our economy:
Development of oil shale resources could lead to the creation of jobs, increases in wealth, and increases in tax and royalty payments to federal and state governments for oil produced on their lands. The extent of these benefits, however, is unknown at this time because the ultimate size of the industry is uncertain.
In a bit of spin worthy of George Orwell, Obama calls this his “all of the above” energy strategy.
Note the GAO presenter did not say what it would mean to our economy with the current Preesy in charge.
No one cares about the American consumer in today’s regime plan, the regime, well are they Americans, or Indonesians and Kenyans. It’s a bleak new world, our foreign Preesy paints for America. Hey you people elected him, so fix it. Our Coomies are working on borrowed time.