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Tuesday, May 15, 2012

In the American west: An ocean of oil

In case you missed it – and you very well might have, since the media was too busy talking about gay marriage to be bothered – a rather remarkable thing happened in Washington this week. An auditor from the GAO testified before the House Science Subcommittee on Energy and Environment on the subject of energy. But instead of hearing about how horrible things are, she calmly delivered something of a bombshell.

“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.”

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