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Read. This was written in 2006, btw.
There is an estimated 2 trillion barrels of oil buried beneath parts of Colorado, Utah and Wyoming. Geologists, petroleum companies and the federal government have known about these massive deposits for nearly a century. The trouble has always been: how do you get at it?
It is believed that the shale deposits in the Green River region of Colorado, Utah and Wyoming are holding the equivalent of approximately 1.5 trillion to 1.8 trillion barrels of oil. Called “oil shale” or “shale oil,” according to scientists and petroleum companies, much of it cannot be recovered with current technology due to the costly processing involved and the depth of the deposits buried beneath the Rocky Mountains.
Still, if only half can be extracted, scientists believe the amount is nearly triple the oil reserves of Saudi Arabia.
http://www.americanfreepress.net/htm...ssive_oil.html
It goes on to note that this oil is pretty low grade and more expensive to refine but it will work fine for cars. Oil companies just don't want to outlay the initial cost to drill it, transport it, and refine it. And why should they, a shrinking supply and a growing demand is like the holy grail of business.
I don't know what the answer is. Tax the shit out of the oil companies and use that money to let the government essentially hire them to drill? That seems to be the most common response. However it neglects the fact that the taxes will just be reflected in the price. That is, the price of oil would just rise and the costs would be sent to the consumer. Net effect of 0 on the oil company, it would all be paid by the populace.
My roomates plan is to have the government raise taxes and then, much like we do during a hurricane, make it illegal to raise the price. I think that'd definitely work. But thats one big big BIG step toward communism.
He tends to think with his gut, though.
I wish I was more informed.
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Politics, USA
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Originally Posted by EasyT
@ this thread 
