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Posted: 9/3/2005 10:54:56 AM EDT
I heard on Fox News radio today that an oil exploration company has found oil in Colorado and surrounding states.

It is going LARGELY unmentioned because of the Crisis in NO, but you aren't going to believe how much they found!!!!!

The guy said they found more oil than exists in the entire middle east region!!!!

Low end would be 500,000 billion recoverable barrels, and high end would be 1.2 trillion recoverable barrels!!!

If anyone can find a news story on this, it would be great. Like I said, I heard it on Fox News radio 570 KLIF dallas Ft. Worth radio.
Link Posted: 9/3/2005 10:55:51 AM EDT
Seems unlikely.
Link Posted: 9/3/2005 10:56:39 AM EDT
[Last Edit: 9/3/2005 10:59:16 AM EDT by KS_Physicist]
In what form? I know that there are strategies for extracting oil from difficult deposits, such as oil sands and 'dry' deposits, but they are expensive. Maybe worth it now, but still expensive.

Jim

Shale deposits. News links:

www.rockymountainnews.com/drmn/news_columnists/article/0,1299,DRMN_86_4051709,00.html
www.harolddoan.com/modules.php?name=News&file=article&sid=5591
www.taipeitimes.com/News/worldbiz/archives/2005/09/02/2003270104
Link Posted: 9/3/2005 10:57:10 AM EDT
Sounds like something you'd hear on April 1rst.
Link Posted: 9/3/2005 10:57:44 AM EDT
Dont tease me with rumors.

Links, damn you! LINKS!
Link Posted: 9/3/2005 10:57:59 AM EDT
Probably shale oil. Besides the enviros will stop the drilling anyway because of pristine area, wilderness areas, etc.
Link Posted: 9/3/2005 10:58:03 AM EDT
www.resourceinvestor.com/pebble.asp?relid=12595

Study Shows Huge U.S. Oil-Shale Field

By Jennifer Talhelm
02 Sep 2005 at 07:58 AM EDT

WASHINGTON (AP) -- The United States has an oil reserve at least three times that of Saudi Arabia locked in oil-shale deposits beneath federal land in Colorado, Utah and Wyoming, according to a study released yesterday.

But the researchers at the RAND think tank caution the federal government to go carefully, balancing the environmental and economic impacts with development pressure to prevent an oil-shale bust later.

"We've got more oil in this very compact area than the entire Middle East," said James Bartis, RAND senior policy researcher and the report's lead author. He added, "If we go faster, there's a good chance we're going to end up at a dead end."

For years, the industry and the government considered oil shale — a rock that produces petroleum when heated — too expensive to be a feasible source of oil.

However, oil prices, which spiked above $70 a barrel this week, combined with advances in technology could soon make it possible to tap the estimated 500 billion to 1.1 trillion recoverable barrels, the report found.

The study, sponsored in part by the U.S. Department of Energy, comes about a month after the president signed a new energy policy dramatically reversing the nation's approach to oil shale and opening the door within a few years to companies that want to tap deposits on public lands.

The report also says oil-shale mining, above-ground processing and disposing of spent shale cause significant adverse environmental impacts. Shell Oil is working on a process that would heat the oil shale in place, which could have less effect on the environment.

< Back Respond to this story >




Link Posted: 9/3/2005 10:58:14 AM EDT

Originally Posted By C-4:
Sounds like something you'd hear on April 1rst.



That's what I thought, but the guy on Fox News radio said it...it must be true
Link Posted: 9/3/2005 10:58:30 AM EDT
Just found it or saving the discovery for a more strategic time?
Link Posted: 9/3/2005 10:58:34 AM EDT
It's not pools of oil. It's in another form that must be heated before it can be extracted from rock. Prior to now, the cost of such work was simply too great. But now it might be just as cheap or cheaper to extract since prices of regular oil are through the roof.
Link Posted: 9/3/2005 10:59:16 AM EDT

Originally Posted By VooDoo3dfx:
www.resourceinvestor.com/pebble.asp?relid=12595

Study Shows Huge U.S. Oil-Shale Field

By Jennifer Talhelm
02 Sep 2005 at 07:58 AM EDT

WASHINGTON (AP) -- The United States has an oil reserve at least three times that of Saudi Arabia locked in oil-shale deposits beneath federal land in Colorado, Utah and Wyoming, according to a study released yesterday.

But the researchers at the RAND think tank caution the federal government to go carefully, balancing the environmental and economic impacts with development pressure to prevent an oil-shale bust later.

"We've got more oil in this very compact area than the entire Middle East," said James Bartis, RAND senior policy researcher and the report's lead author. He added, "If we go faster, there's a good chance we're going to end up at a dead end."

For years, the industry and the government considered oil shale — a rock that produces petroleum when heated — too expensive to be a feasible source of oil.

However, oil prices, which spiked above $70 a barrel this week, combined with advances in technology could soon make it possible to tap the estimated 500 billion to 1.1 trillion recoverable barrels, the report found.

The study, sponsored in part by the U.S. Department of Energy, comes about a month after the president signed a new energy policy dramatically reversing the nation's approach to oil shale and opening the door within a few years to companies that want to tap deposits on public lands.

The report also says oil-shale mining, above-ground processing and disposing of spent shale cause significant adverse environmental impacts. Shell Oil is working on a process that would heat the oil shale in place, which could have less effect on the environment.

< Back Respond to this story >







Thanks man

WHAT DID I SAY!!!

HOOAH!
Link Posted: 9/3/2005 11:01:25 AM EDT
Shit, there's millions (probably billions) of gallons of oil off the coast of California.
We better pump it out ASAP.
It might help to get California underwater quicker.
Link Posted: 9/3/2005 11:01:27 AM EDT

The report also says oil-shale mining, above-ground processing and disposing of spent shale cause significant adverse environmental impacts.


No more gravel for our roads. Let's use crushed shale! I'd like a crushed shale driveway.


Shell Oil is working on a process that would heat the oil shale in place, which could have less effect on the environment.


How about building some sort of nuclear reactor well. Kill two birds with one stone. :)
Or maybe a giant magnifying glass in orbit...
Link Posted: 9/3/2005 11:02:05 AM EDT
Saudi Arabia already has us by the balls with oil.

I doubt our pres, or any future pres will have the cojones to tell Saudi Arabia to F**k off.
Link Posted: 9/3/2005 11:02:55 AM EDT
You can still make good money with Oil sands now, Hell we do it, and my Province is the richest in the Confederacy, especially with oil prices being what they are
Link Posted: 9/3/2005 11:04:43 AM EDT
This has been known for years
Link Posted: 9/3/2005 11:04:53 AM EDT
[Last Edit: 9/3/2005 11:06:15 AM EDT by Max_Mike]

Originally Posted By KS_Physicist:
How about building some sort of nuclear reactor well. Kill two birds with one stone. :)



Sounds like the perfect plan... try to get the environmental lobby to go along.
Link Posted: 9/3/2005 11:07:21 AM EDT

Originally Posted By zer04evr:
Saudi Arabia already has us by the balls with oil.

I doubt our pres, or any future pres will have the cojones to tell Saudi Arabia to F**k off.




No big deal, More for China...
Link Posted: 9/3/2005 11:08:41 AM EDT

Originally Posted By Max_Mike:

Originally Posted By KS_Physicist:
How about building some sort of nuclear reactor well. Kill two birds with one stone. :)



Sounds like the perfect plan... try to get the environmental lobby to go along.



Co2 that glows... cool! Little green cloud puffing out the exhaust pipes
Link Posted: 9/3/2005 11:12:00 AM EDT

Originally Posted By zer04evr:
Saudi Arabia already has us by the balls with oil.

I doubt our pres, or any future pres will have the cojones to tell Saudi Arabia to F**k off.




Link Posted: 9/3/2005 11:13:53 AM EDT

Originally Posted By alaman:
Probably shale oil. Besides the enviros will stop the drilling anyway because of pristine area, wilderness areas, etc.

Screw 'em. Extract the fuel baby! In the meantime, let's pump the Mid-East dry first.
Link Posted: 9/3/2005 11:14:37 AM EDT
This I think, is general knowledge in the industry but it is expensive to process and I doubt the tree huggers will let us get to it.
Link Posted: 9/3/2005 11:15:27 AM EDT

Originally Posted By BiggerStick47:

Originally Posted By zer04evr:
Saudi Arabia already has us by the balls with oil.

I doubt our pres, or any future pres will have the cojones to tell Saudi Arabia to F**k off.




tinypic.com/dc30vm.jpg



Link Posted: 9/3/2005 11:16:27 AM EDT

Originally Posted By KS_Physicist:
In what form? I know that there are strategies for extracting oil from difficult deposits, such as oil sands and 'dry' deposits, but they are expensive. Maybe worth it now, but still expensive.



At $3.50 a gallon, it might be profitable.
Link Posted: 9/3/2005 11:16:30 AM EDT

Originally Posted By Valkyrie:
This I think, is general knowledge in the industry but it is expensive to process and I doubt the tree huggers will let us get to it.



Screw the tree huggers! We gotta stop letting them dictate things, we need to do what we have to do to ensure an adequate energy supply until alternatives get off the ground....
Link Posted: 9/3/2005 11:16:47 AM EDT

Originally Posted By alaman:
Probably shale oil. Besides the enviros will stop the drilling anyway because of pristine area, wilderness areas, etc.



Good.
Link Posted: 9/3/2005 11:18:06 AM EDT

Originally Posted By PlaymoreMinds:




I hope that face is for Bush, and not me......He's the one holding hands with a terrorist dictator!
Link Posted: 9/3/2005 11:19:15 AM EDT

Originally Posted By thedoctors308:

Originally Posted By alaman:
Probably shale oil. Besides the enviros will stop the drilling anyway because of pristine area, wilderness areas, etc.



Good.



Good as in its shale oil or good as in the environmentalists will stop drilling efforts?
Link Posted: 9/3/2005 11:21:28 AM EDT

Originally Posted By pzjgr:

Originally Posted By Valkyrie:
This I think, is general knowledge in the industry but it is expensive to process and I doubt the tree huggers will let us get to it.



Screw the tree huggers! We gotta stop letting them dictate things, we need to do what we have to do to ensure an adequate energy supply until alternatives get off the ground....



my thoughts exactly
Link Posted: 9/3/2005 11:21:43 AM EDT

Originally Posted By KA3B:
Shit, there's millions (probably billions) of gallons of oil off the coast of California.
We better pump it out ASAP.
It might help to get California underwater quicker.



Link Posted: 9/3/2005 11:21:52 AM EDT
Coincidences...I don't believe in them. The US government created and directed this hurricance to destroy a major metropolitan area. The reason, to jack oil prices up high enough to validate announcing this finding (oh, and this was actually discovered over 20 years ago but the CIA decided to keep it a secret). Now, GW and other oil hungry investors, who own the rights to this new find, have decided to cash in. It's a big ploy by big oil and GW Bush. ARe you all blind?!!!





Link Posted: 9/3/2005 11:23:23 AM EDT

Originally Posted By KnobCreek:
Coincidences...I don't believe in them. The US government created and directed this hurricance to destroy a major metropolitan area. The reason, to jack oil prices up high enough to validate announcing this finding (oh, and this was actually discovered over 20 years ago but the CIA decided to keep it a secret). Now, GW and other oil hungry investors, who own the rights to this new find, have decided to cash in. It's a big ploy by big oil and GW Bush. ARe you all blind?!!!








Hey, you should go post this at DU....I bet everybody there will jump on the bandwagon!
Link Posted: 9/3/2005 11:24:00 AM EDT

Originally Posted By Max_Mike:

Originally Posted By KS_Physicist:
How about building some sort of nuclear reactor well. Kill two birds with one stone. :)



Sounds like the perfect plan... try to get the environmental lobby to go along.



The environmental lobby can FOAD. Survival of the nation is more important than temporary eco/geo damage.

Jim
Link Posted: 9/3/2005 11:25:44 AM EDT
Paging Peak_Oil!
Your theory has been blown to hell!
Link Posted: 9/3/2005 11:25:50 AM EDT

Originally Posted By KS_Physicist:

Originally Posted By Max_Mike:

Originally Posted By KS_Physicist:
How about building some sort of nuclear reactor well. Kill two birds with one stone. :)



Sounds like the perfect plan... try to get the environmental lobby to go along.



The environmental lobby can FOAD. Survival of the nation is more important than temporary eco/geo damage.

Jim





Well said.
Link Posted: 9/3/2005 11:25:50 AM EDT

Originally Posted By Charging_Handle:
It's not pools of oil. It's in another form that must be heated before it can be extracted from rock. Prior to now, the cost of such work was simply too great. But now it might be just as cheap or cheaper to extract since prices of regular oil are through the roof.



Once we start extracting the oil, it's fairly likely that the cost to do so will go down as technologies are refined and new techniques and technology are applied to the task.

By the way, I notice they don't include the oil sand deposits in Kansas. I think there are about 500 billion barrels of oil available in Kansas deposits alone. Roughly the same trouble as shale to get it out of the ground.

Jim
Link Posted: 9/3/2005 11:26:54 AM EDT

Originally Posted By txgp17:

Originally Posted By KS_Physicist:
In what form? I know that there are strategies for extracting oil from difficult deposits, such as oil sands and 'dry' deposits, but they are expensive. Maybe worth it now, but still expensive.



At $3.50 a gallon, it might be profitable.



I'd be willing to pay $5/gallon or more if it would put the screws to the Saudis.

Of course, I may be paying that anyway...

Link Posted: 9/3/2005 11:27:55 AM EDT
The oil is currently only viable at the high barrel prices. The middle east will lower the price per barrel to stop extraction before kissing their money train goodbye. There is only one solution and it is alternative fuels.
Link Posted: 9/3/2005 11:28:30 AM EDT
[Last Edit: 9/3/2005 11:29:15 AM EDT by KnobCreek]

Hey, you should go post this at DU....I bet everybody there will jump on the bandwagon!




I can't take it over there. I just get irrate, punch holes in walls, break windows, etc. The wife had put in a PARENTAL LOCK on that site to prevent such behavior.
Link Posted: 9/3/2005 11:39:36 AM EDT

Originally Posted By jeep2919:
The oil is currently only viable at the high barrel prices. The middle east will lower the price per barrel to stop extraction before kissing their money train goodbye. There is only one solution and it is alternative fuels.




Isn't the point of this to make the prices cheaper? If the saudis lower the prices then we won't have to dig the shale stuff up.
Link Posted: 9/3/2005 11:41:52 AM EDT
[Last Edit: 9/3/2005 11:44:41 AM EDT by Zippy_The_Wonderdog]

Originally Posted By alaman:
Probably shale oil. Besides the enviros will stop the drilling anyway because of pristine area, wilderness areas, etc.



I agree. Probably shale. This has been know about for many, many years. Decades. Pretty sure it costs a shitload to extract and refine.
Link Posted: 9/3/2005 11:42:54 AM EDT

Originally Posted By Kooter:

Isn't the point of this to make the prices cheaper? If the saudis lower the prices then we won't have to dig the shale stuff up.



Until they see that we'be shelved the project, and then they jack it back up. If used properly, this could make $50 per barrel a price cieling as opposed to a price floor.
Link Posted: 9/3/2005 11:47:35 AM EDT
Extracting that would be FANTASTIC. FINALLY tell Saudi Arabia to fuck off.

Since pics of the Saudi's were shown, here is a paraphrased conversation my father's old boss (my father left before he did), a gov't nuclear power/waste expert and a Saudi prince in some oil ministry had at a conference.

Saudi Prince: America will always need us for oil. We have it, and you do not. You are beholden to us for that. (basically being a dick)
Boss: Are you aware that 12 years after a nuclear strike oil in the immediate area would be safe to use again?
Saudi: (shocked voice) And how would you know that?
Boss: We studied it. Think about that.
Saudi: walks away shocked.
Link Posted: 9/3/2005 11:49:20 AM EDT

Originally Posted By zer04evr:
Saudi Arabia already has us by the balls with oil.

I doubt our pres, or any future pres will have the cojones to tell Saudi Arabia to F**k off.




Pretty much.

Even if we decided to process coal into oil or grab the shale. Whatever price we can do it for, the Saudis (TErrorists) will just lower the prices to make sure we keep buying from them and any investment we spend to get our own would be wasted in the eyes of the FedGov.

We will ALWAYS be under the mercy of the Terrorist oil nations. Bet on it.
Link Posted: 9/3/2005 11:50:01 AM EDT

Originally Posted By Spade:
Extracting that would be FANTASTIC. FINALLY tell Saudi Arabia to fuck off.

Since pics of the Saudi's were shown, here is a paraphrased conversation my father's old boss (my father left before he did), a gov't nuclear power/waste expert and a Saudi prince in some oil ministry had at a conference.

Saudi Prince: America will always need us for oil. We have it, and you do not. You are beholden to us for that. (basically being a dick)
Boss: Are you aware that 12 years after a nuclear strike oil in the immediate area would be safe to use again?
Saudi: (shocked voice) And how would you know that?
Boss: We studied it. Think about that.
Saudi: walks away shocked.



Link Posted: 9/3/2005 11:50:26 AM EDT

Originally Posted By jeep2919:
The oil is currently only viable at the high barrel prices. The middle east will lower the price per barrel to stop extraction before kissing their money train goodbye. There is only one solution and it is alternative fuels.



The price per barrel is set on basis of futures trading, so how do they peform this feat unless they dump oil on the market for months? They are running full out right now, so how do they dump more on the market to drive prices down?

Thier only real power minus the ability to significantly increase output is to resrict oil and drive prices higher, which will in turn drive us faster to other sources.
Link Posted: 9/3/2005 11:52:11 AM EDT

Originally Posted By WildBoar:

Originally Posted By zer04evr:
Saudi Arabia already has us by the balls with oil.

I doubt our pres, or any future pres will have the cojones to tell Saudi Arabia to F**k off.




Pretty much.

Even if we decided to process coal into oil or grab the shale. Whatever price we can do it for, the Saudis (TErrorists) will just lower the prices to make sure we keep buying from them and any investment we spend to get our own would be wasted in the eyes of the FedGov.

We will ALWAYS be under the mercy of the Terrorist oil nations. Bet on it.



Are you under the impression that barrels of oil are marked with UPC codes with a set price on the way out of the M.E.?
Link Posted: 9/3/2005 11:56:27 AM EDT
Sorry everyone. The oil shale, like somebody else has already said, has been known about for a very long time. Bush is too big a pussy to stop sucking Saudi Arabia's cock.
Link Posted: 9/3/2005 12:00:01 PM EDT
My truck just breathed a heavy sigh of relief.

Seriously though, we should consult with the Canadians on how to extract it. They've got the tech expertise for it.
Link Posted: 9/3/2005 12:00:45 PM EDT

Originally Posted By zer04evr:
Saudi Arabia already has us by the balls with oil.

I doubt our pres, or any future pres will have the cojones to tell Saudi Arabia to F**k off.



Newsflash here!!!! Most of our oil comes from Canada and Mexico current U.S. use of M.E. oil is about 15% not all from Saudis either. Iraq supply is a trickle and NO oil from Iran.

Crude Oil Imports (Top 15 Countries)
(Thousand Barrels per Day)
Country Jun-05 May-05 YTD 2005 Jun-04 Jan - Jun 2004

--------------------------------------------------------------------------------

CANADA 1,705 1,722 1,606 1,724 1,622
MEXICO 1,616 1,748 1,568 1,668 1,597
SAUDI ARABIA 1,598 1,430 1,526 1,455 1,388
VENEZUELA 1,292 1,273 1,329 1,439 1,353
NIGERIA 1,012 1,111 1,040 1,208 1,107
IRAQ 608 588 548 636 657
ANGOLA 397 341 430 127 287
ALGERIA 292 152 195 216 198
ECUADOR 288 238 289 186 197
UNITED KINGDOM 269 194 227 304 262
COLOMBIA 227 116 142 192 158
BRAZIL 212 115 80 91 57
NORWAY 194 117 139 155 171
KUWAIT 184 213 186 224 226
CHAD 136 37 78 32 49

Total Imports of Petroleum (Top 15 Countries)
(Thousand Barrels per Day)
Country Jun-05 May-05 YTD 2005 Jun-04 Jan - June 2004

--------------------------------------------------------------------------------

CANADA 2,155 2,188 2,128 2,240 2,141
MEXICO 1,746 1,826 1,657 1,729 1,666
SAUDI ARABIA 1,623 1,526 1,581 1,498 1,430
VENEZUELA 1,593 1,574 1,584 1,723 1,610
NIGERIA 1,089 1,214 1,127 1,260 1,182
IRAQ 608 588 548 636 659
ALGERIA 574 449 455 464 448
UNITED KINGDOM 421 345 371 427 402
ANGOLA 397 353 438 139 298
NORWAY 357 229 248 209 251
RUSSIA 350 325 429 432 246
VIRGIN ISLANDS 331 367 327 378 316
ECUADOR 312 238 297 205 212
COLOMBIA 251 176 176 202 185
BRAZIL 226 134 123 146 114

Note: The data in the tables above exclude oil imports into the U.S. territories.

Google is your friend
Link Posted: 9/3/2005 12:01:06 PM EDT
As several other posters have pointed out, massive non-arab deposits are nothing new. The advantage that the Arab countries have isn't that they have a lot of oil, it's that their oil is easy to get to. There's a lot of oil in Texas that looks good at $50 a barrel, but which isn't worth trying to extract at $30 a barrel. The middle east will run out of oil LONG before the rest of the world does...
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