[Codiac]

Not sure if this has been discussed in other threads but I didn't see it anywhere. The US has a huge reserve of oil in the form of Oil Shale in Colorado, Wyoming and Utah. The known recoverable reserves are in the the trillions of barrels and really conservative estimates show it at over 500 billion barrels which is 3 times large than the reserves in Saudi Arabia. It's harder to get at and produce than conventional drilling but it is supposed to be profitable at around the $30 to $40 per/barrel mark. Man it sure would be nice if the US would bring this area on line so we could be producing 3 million barrels per/day of domestic oil production in the next 15 to 20 years. That might change the face of the world oil economy and be a viable source of oil for 100's of years. Here's a few links to articles written on this subject.

http://www.rand.org/pubs/monographs/2005/RAND_MG414.pdf

Oil from a stone - Oct. 31, 2007

Read and discuss!