Tuesday, May 15, 2012

 

GAO: Recoverable Oil in Colorado, Utah, Wyoming 'About Equal to Entire World’s Proven Oil Reserves'


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.”
One trillion barrels of oil, the minimum estimate of recoverable oil, would be enough to supply the U.S. with oil for 136 years based on today's consumption rate of 20 million barrels/day.  Of course, consumption will grow in the future but it is still a enough to supply oil for much of the rest of this century.  This might be our road to fusion.  

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