With ABC’s Precious Securely Re-Elected, It Is Now Safe To Report A Massive Oil Find [that we reported in May]

Just Re-elected – ABC’s Precious

Remember when we reported this:

Unlock The Energy: Green River Formation Has More Recoverable Oil Than The Rest Of The World…Combined

The common refrain from government is that we only have 2% of the world’s oil reserves, so what do you expect a Lightworker to do, conjure up a miracle?

Except that isn’t quite true, now is it Mr. President? At least according to the GAO (via 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.

TRNL readers have known about this since May but now that their Precious is safely re-elected, ABC feels compelled to put it out in the mainstream now:

Drillers in Utah and Colorado are poking into a massive shale deposit trying to find a way to unlock oil reserves that are so vast they would swamp OPEC.

A recent report by the U.S. Government Accountability Office estimated that if half of the oil bound up in the rock of the Green River Formation could be recovered it would be “equal to the entire world’s proven oil reserves.”

Both the GAO and private industry estimate the amount of oil recoverable to be 3 trillion barrels.

“In the past 100 years — in all of human history — we have consumed 1 trillion barrels of oil. There are several times that much here,” said Roger Day, vice president for operations for American Shale Oil (AMSO).

The Green River drilling is beginning as shale mining is booming in the U.S. and a report by the International Energy Agency predicts that the U.S. will become the world’s largest oil producer by 2020. That flood of oil can have major implications for the U.S. economy as well as the country’s foreign policy which has been based on a growing scarcity of oil.

The IEA report does not detail where the American oil will be coming from, but the largest deposit is the Green River formation which has yet to tapped in any significant way.

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11 thoughts on “With ABC’s Precious Securely Re-Elected, It Is Now Safe To Report A Massive Oil Find [that we reported in May]

  1. Ah yes. And actally- ABC first reported on this over two years ago. (I’ll leave it to you to actually figure out how to use google- or the less obtrusive duck, duck, go).

    And of course- despite the rights claims of the huge price increases in fuel under Obama (which rely on the price crash during the global economic meltdown at the end of the Bush presidency…never mind that oil prices nearly tripled under Bush and have been lower for more then 50% of Obamas term), Oil shale only became economically feasible thanks to the rise in global oil prices under Bush, in no small part due to the destruction of oil production in Iraq and uncertainity throughout the middle east- coupled with the rise of India and China. And of course- corporations have been trying to mine these deposits for decades- and, per above, it has only recently become economically feasible. (to be fair- new technologies are also playing a role in this equation)

    Indeed- it is to date only taxpayer subsidies and tax breaks that make it “profitable”

    So let’s see. You constantly rail against the “costs” of alternative energy. So let’s look at the costs- many of which are picked up by the taxpayer- not the corporation- for oil shale.

    First- the land is “leased” to multi national corporations at a cost that more often then not is below the basic costs of administration. Saying nothing of the costs of land held in the public trust that becomes unusable.

    We are talking massive open pit mines. The destruction of large swaths of habitat. And overwhelmingly- the cost of “rehabilitation”, generally to a far worse state then the original, will be borne by the taxpayer.

    The wast material from processing actually greatly exceeds the material removed. Causing a massive waste problem, and one again more often then not paid for by the taxpayer.

    In many areas for each cubic foot of the material removed 10-40 cu ft of water must be removed from the area- which has a masive effect on the surrounding areas. Likewise toxic chemicals leach from the oil shale production into groundwater- according to one BLM (Bueareau of lumber and mining) produce up to 12 gallons of highly polluted water per ton of oil produced. (may not sound like a lot until you do the math on how many tons we are talking about producing).

    Oil shale production produces far more CO2 then traditional oil production.

    And finally (for the purpose of my response) oil shale production is hugely energy intensive. I can’t be bothered to find more detailed data- but a report from the RAND corporation a few years ago estimated the need for a 1200 megawatt power plant to produce less then 1% of our needs.

    • Really? You can’t be bothered finding detailed information? Interesting. As I see it, all you have offered is subjective opinion and hyperbole. You substantiate nothing and claim the moral high ground, as if by writing your comments become truth. Blow me. Either go about proving your position or go back to burying your head in oil sands while you wait for your Chevy Volt to recharge on electricity provided from a coal fired power plant. Or do you recharge from a a stationary bicycle generator you inherited from your earth muffin Grandmother?

    • It all comes down to blaming Bush, doesn’t it drugs?

      You liberals need new material. You are in your second four years now, and look at the mess this new president has inherited from the last one.

    • @drugs (aka @monistat):

      Actually, you moronic asshat, I was speaking of the curious timing of the reporting and since I am in the oil industry and for 18 years, lived in Park City, Utah (just 42 miles from Utah/Wyoming border) I don’t really need to google it. I’ve stood on top of it. The point was that we have known about the Green River formation for a hundred and fifty years, there are even tales from indigenous Ute Indians about lightning strikes setting the ground on fire – but ABC chose to skip the earlier announcements about the Green River area during the May 2012 Congressional testimony until it would benefit Obama – after the election. If it wasn’t news then, why is it news now, one would wonder? Hmmmmmmm?

      The Green River shale is different from the Bakken, the Eagle Ford and the Marcellus shale formations but with the rapid development of technology like hydraulic fracturing and low-salinity water injection, the recovery rates are potentially increasing – but that’s not really the point of the post because recovery of the Green River reserves, as you correctly point out from your google search, are more difficult than those from the other three formations.

      If that is true, why would ABC push it now, you may ask? Why would they trumpet huge reserves that are difficult and more expensive to recover?

      Because of this: The Interior Department on Friday issued a final plan to close 1.6 million acres of federal land in the West originally slated for oil shale development.

      These are areas that likely hold reserves that are more like the Bakken or Eagle Ford and would be more easily recovered – but now when the general public hears “oil shale” they will think that the two are equal and simply think Obama has opened up more area and the 1.6 million acres is just a tiny offset – it will become a footnote in history – Obama gets to carry on with his dishonest hyping of his energy record.

      And because of the environmental difficulty in recovery of the Green River oil, these formations are likely 50-100 years from true practicality – but this is great for Obama because he can now take credit for something that will not happen until way after he is gone – if ever. No worry about riling up the environmentalists and he gets to claim a huge find during his administration – and better yet, it is under federal land! How great is that!

      And it is such bullshit that ABC reported this as uncritically as they did – you would think they would know about google, wouldn’t you?

      I knew if I waited long enough, you moron liberal asshats would help me illustrate my point and like clockwork, you executed that task flawlessly.

      It was a trap, there drugboy. You fell right smack into it and validated my hidden premise.

      Good job, drugs – and thanks once again for proving the Utah Law of Diminishing Liberal Intelligence, which states:

      If a liberal hasn’t said something illogical, self-contradictory, physically or financially impossible, historically inaccurate or just outright stupid, you just haven’t listened to them long enough,

      Therefore;

      Have patience and wait, they will eventually hang themselves if you give them enough rope. Just keep them talking. Evidence of intellect is inversely proportional to the length of the conversation.

  2. Just got back from a trip to WY where I was born and raised. We knew about this formation 30 years or more ago, but the technology didn’t exist to extract. My brother (who works throughout the “patch” from ND to UT) says the increased production we’re now experiencing in oil and gas in the region cannot go anywhere because the pipelines are already pumping to capacity and they won’t allow any new ones to be built, much less refineries. Thousands of trucks and rail cars are hauling out what they can, but huge storage tanks are being built to hold the excess.

    • @roadmaster:

      That is why the Keystone pipeline is so critical. It makes no difference if we have all the reserves in the world but can’t get it to market – transmission resources is the key.

      To find out who profits from the lack of a pipeline, look here: Atlas Shrugged – the Obama Administration’s Instruction Manual and here: Do you Remember Atlas Shrugged?

      I would have had no problem with the “stimulus” if it had funded oil and gas transmission resource, electricity transmission and grid hardening efforts. I guess those weren’t “shovel ready”. The residents of Long Island now know how not “shovel ready” they were.

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