Recoverable oil in west ‘about equal to entire world’s proven oil reserves’

Recoverable oil in west ‘about equal to entire world’s proven oil reserves’

According to Terence P. Jeffrey at CNSNews, “[t]he 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.”

Via Jazz Shaw at HotAir, who, in highlighting the article, says, “If we move forward on this aggressively, the industry can safely access these resources which would significantly strengthen our hand on the international stage. But with the wrong approach, Washington could hog tie energy developers with excessive, expensive regulations or shut the entire process down by failing to issue permits to develop resources on these federal lands.

“The public disclosure of these reserves is good news, but it’s only the beginning. And while I feel some trepidation in saying it, I’m afraid the ball is in Barack Obama’s court.”


One Comment on “Recoverable oil in west ‘about equal to entire world’s proven oil reserves’”

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