If you listen to Barry “Almighty”, you’d think that we’re drilling everywhere but the East Lawn, which we’re not, that drilling for more oil is not the answer for rising gas prices, which it is, and that the only way possible to wean ourselves off of foreign oil is to invest heavily in all manner of “green” energy, which is nothing but a lie. But you see, there’s this little area called the Green River Formation, which is a largely vacant area of mostly federal land that covers the territory where Colorado, Utah and Wyoming all come together. And, it contains about as much recoverable oil as all the rest the world’s proven reserves combined, so says an auditor from the Government Accountability Office to Congress on Thursday. So you may ask, if Barry continues to brag about the fact that we are drilling everywhere, and that we are producing more domestic oil than every before, why aren’t we drilling here?
The GAO testimony provided, stressed 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. It also noted that developing the this oil would pose “socioeconomic challenges,” which included bringing “a sizable influx of workers who along with their families put additional stress on local infrastructure” and “making planning for growth difficult for local governments.” “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. Now think about that, “the world’s largest deposits of oil shale” right here in the good, old US of A.
“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,” Ms. 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.” And yet Barry continues to allow us to essentially be held hostage by overseas oil producers as we continue with the most massive transfer of wealth in history. Why? Because of his desire to destroy capitalist system and the fact that he sees the restricting of fossil fuels as being a great way to do that. I mean think about it. His desire here, to put ‘big oil’ out of business.
In her oral statement before the subcommittee, Ms. Mittal said that developing the shale oil would create wealth and jobs for the country, but also challenges for government. “Being able to tap this vast amount of oil locked within this formation will go a long way to help to meet our future demands for oil. The U.S. Geological Survey, as you noted, estimates that the formation contains about 3 Trillion barrels of oil of which half may be recoverable,” she said. Yes folks, she said Trillion, with a ‘T’. She went on to say, “As you can imagine having the technology to develop this vast energy resource will lead to a number of important socioeconomic benefits including the creation of jobs, increases in wealth and increases in tax and royalty payments for federal and state governments.” So you would think this would be a no-brainer for Barry, and if pursued could quite possibly guarantee his re-election.
“While large-scale oil-shale development offers socioeconomic opportunities it also poses certain socioeconomic challenges that also should not be overlooked,” she testified. “Oil shale development like other extractive industries can bring a sizable influx of workers who along with their families put additional stressed on local infrastructure. Development from expansion of extractive industries has historically followed a boom-and-bust cycle making planning for growth difficult for local governments.” In her written testimony, Mittal noted that three-fourths of the Green River shale oil is under federal land. “The federal government is in a unique position to influence the development of oil shale because nearly three-quarters of the oil shale within the Green River Formation lies beneath federal lands managed by the Department of the Interior’s (Interior) Bureau of Land Management (BLM),” she testified.
This is something that I’d like to see Mitt Romney talking up loudly and often. It very clearly provides proof positive that we do, in fact, have the capability right here at home to significantly reduce our dependence on those ragheads who control the flow of oil out of one of the most unstable regions of the world. Where Barry seems to be very content to have us simply sit atop all of these vast reserves, Romney has to very clearly state that it his intention to take advantage of them to the fullest extent possible, in an effort to lower the price of gas and to help average Americans as they continue trying to cope with gas prices that are now twice as high as when Barry took office. We need to stop the pouring of vast sums of taxpayer money into bogus ‘green’ technology as we watch ‘green’ company after ‘green’ company go belly up. And all to the tune of hundreds of millions of tax dollars all being wasted with absolutely nothing to show for any of the money ‘spent’.
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