Energy Independence

[Gaspar]

The Government Accountability Office has just released a surprising and  and encouraging report about the possibility to US energy independence. http://science.house.gov/sites/republicans.science.house.gov/files/documents/hearings/HHRG-112-%20SY20-WState-AMittal-20120510.pdf

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!  The total of this deposit lies under mostly federally owned land.  The GAO stated that the biggest challenge to implementation and recovery of these resources is the impact on local infrastructure and growth for local communities based on the massive number of jobs that would be required.

"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." Anu K. Mittal, Director of Natural Resources for the GAO testified before Congress on the 10th.  "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."

With this testimony in the lap of the administration, I am confident they will clear the way for energy companies to gain access to this precious domestic resource and create hundreds of thousands of jobs!  Right?

[Townsend]

With this testimony in the lap of the administration, I am confident they will clear the way for energy companies to gain access to this precious domestic resource and create hundreds of thousands of jobs!  Right?

Surely it's as easy as that.

"Look!  There it is!  Hire all those people and have them get some buckets.  We'll be in the oil bidness and all is saved."

[AquaMan]

With this testimony in the lap of the administration, I am confident they will clear the way for energy companies to gain access to this precious domestic resource and create hundreds of thousands of jobs!  Right?

Well I hope that they aren't as quick to yell Eureka! as you are.

You neglected to mention that this would require unconventional methods of extraction as was even pointed out in the headline. Curious that. You also pointed out all the tremendous up-side and failed to mention the "challenges" to exploitation that were mentioned in the sub-head. Things like long lasting pollution, destruction of huge amounts of topsoil (hey, we're not using it anyway?!) and the creating of oil boom towns. Nor did you mention the opportunity cost of going after long known about oil shale rather than joining the rest of the world in developing other sources of energy.

Its like you had a certain pre-disposition, an axe to grind or something....

[Gaspar]

Well I hope that they aren't as quick to yell Eureka! as you are.

You neglected to mention that this would require unconventional methods of extraction as was even pointed out in the headline. Curious that. You also pointed out all the tremendous up-side and failed to mention the "challenges" to exploitation that were mentioned in the sub-head. Things like long lasting pollution, destruction of huge amounts of topsoil (hey, we're not using it anyway?!) and the creating of oil boom towns. Nor did you mention the opportunity cost of going after long known about oil shale rather than joining the rest of the world in developing other sources of energy.

Its like you had a certain pre-disposition, an axe to grind or something....

Sorry, I just saw the optimistic side of things.  I'm sure that if we invested just half of what we speculated on bankrupt solar companies in the last 3 years, we could overcome all of the challenges. 

[Conan71]

Well I hope that they aren't as quick to yell Eureka! as you are.

You neglected to mention that this would require unconventional methods of extraction as was even pointed out in the headline. Curious that. You also pointed out all the tremendous up-side and failed to mention the "challenges" to exploitation that were mentioned in the sub-head. Things like long lasting pollution, destruction of huge amounts of topsoil (hey, we're not using it anyway?!) and the creating of oil boom towns. Nor did you mention the opportunity cost of going after long known about oil shale rather than joining the rest of the world in developing other sources of energy.

Its like you had a certain pre-disposition, an axe to grind or something....

Well thanks a pant load, Mr. Buzzkill! 

[AquaMan]

Nonsense. "other" sources of energy are not exclusively solar. Its good to be optimistic, its quite another to ignore the costs you pay when considering something like mining shale oil reserves on public lands.

Remember, they put blinders on horses because they're so stupid they will be spooked by every movement around them, not because they want them to be optimistic.

Conan, this is not hot off the press news. Shale deposits and oil sands are found all over the world. The process of mining them and permanently affecting the environment is surely worth discussion don't you think? BTW, consider depends.

[Conan71]

Nonsense. "other" sources of energy are not exclusively solar. Its good to be optimistic, its quite another to ignore the costs you pay when considering something like mining shale oil reserves on public lands.

Remember, they put blinders on horses because they're so stupid they will be spooked by every movement around them, not because they want them to be optimistic.

Conan, this is not hot off the press news. Shale deposits and oil sands are found all over the world. The process of mining them and permanently affecting the environment is surely worth discussion don't you think? BTW, consider depends.

What's the latest in nursing home fashions these days?  Depends.

[Gaspar]

Sorry guys, I just thought with all the bad news about the economy and energy prices, a little good news from our government on the promise of energy independence would be welcome.

I mean, it's no Chevy Volt, but it does represent a significant chip in the international game of energy speculation.  Imagine what might happen to oil prices if we were to begin to move on this discovery?

[AquaMan]

Probably nothing.

[Conan71]

You would think it would be hailed as good news around these parts considering if it weren't for the erl bidness, Oklahoma would be one of the poorest states in the nation these days.  A lot of people don't recognize the hand that's feeding them.

Face it, you could give these guys each a check for $1 million and they'd complain about the color of the checks.

[AquaMan]

I doubt the oilmen here and in Houston would leave these hell holes for those. And as an aside, don't ever remember seeing a happy oil man! Sumpin' always piss'n em off.

[Conan71]

I doubt the oilmen here and in Houston would leave these hell holes for those. And as an aside, don't ever remember seeing a happy oil man! Sumpin' always piss'n em off.

What kind of frontier gibberish is that?

[Teatownclown]

Sorry, I just saw the optimistic side of things.  I'm sure that if we invested just half of what we speculated on bankrupt solar companies in the last 3 years, we could overcome all of the challenges. 

We should have thrown a sh!t load more at solar....the Chinese threw 80 billion and we threw only 2 billion....hard to compete with those numbers.

They're starting to drill wildcats in Wyoming....based on good geology.

[erfalf]

Pretty much every country that has ever flourished has its own natural resources to thank for it. Exploiting those resources are what created true wealth. Only after China exploited their resources are they now able to spend all this money to research alternative energy.

[nathanm]

Sorry guys, I just thought with all the bad news about the economy and energy prices, a little good news from our government on the promise of energy independence would be welcome.

You're late to the party my friend. Economic indicators are looking relatively good given the uncertainty surrounding Europe and energy prices are declining. (thank China for that) How long would it take to bring this field online? It usually takes more than 5 years to get significant production, does it not? Seems to me like we'd be better off continuing to wean ourselves off oil as much as possible and save it for making plastics and fertilizer after everybody else's oil runs out.

Why on Earth would you want to use our oil up first?