According to testimony to Congress from Anu K. Mittal, director of the Government Accountability Office’s natural resources and environment office. According to Mittal’s testimony, the United States currently has domestic oil reserves that equal that of all other oil reserves in the world. Let that statement sink in. And also know that Director Mittal is referencing oil reserves for just one location – oil shale in the Green River Formation. She is not even including all the other oil producing regions within the United States. The newly discovered Green River Formation itself has enough potential reserves to equal those of the rest of known reserves throughout the entire world:
“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.
“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,” 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.” – LINK with video
So much for Obama repeatedly saying that we only have 1 or 2% of what we use. He knows better.