CybeRelease: The United States Could Become ‘The New Middle East’
(CybeRelease, October 4, 2006) - Lake Harmony - If you want to get in on the American oil shale boom, here’s what you need to know... The New Middle East - It can be difficult to imagine such massive amounts of oil. Below, I’ve included a page of the Energy Department’s classified report. It puts into perspective how much recoverable oil we have and the kind of money that will be made. There’s so much oil in this region the Energy Dept. thinks we could become the world’s leading oil producer. This reserve is so big it’s projected to last for 500 years, according to some estimates. You could even add together all the oil in the Middle East and our reserves would still come out on top 3-TIMES LARGER. That’s a lot of oil.
Of the 2 trillion barrels of proven oil in the Green River Formation between 800 billion and 1.2 trillion barrels are recoverable. That’s the amount of oil we can actually get out and use. Extracting this much domestic oil is very attractive to the government, especially in today’s politically unstable environment.
It’s estimated that tapping U.S. oil shale would decrease domestic oil prices by as much as five percent a year. That may not sound like much, but consider that a 5% drop in oil prices would save Americans $15 - $20 BILLION a year at the gas pumps. That’s why on August 8, 2005, President Bush signed into law the Energy Policy Act of 2005. This historic legislation officially opens up the Green River Formation to a handful of drilling companies. In January, the government accepted proposals from six companies to test their oil shale drilling methods for commercial production. Already 3 have been cut... Now only 3 are left. From the remaining three, I think only one company’s drilling technology will meet the government’s strict shale development standards and go on to develop oil shale on a commercial level.
This company would be responsible for launching America’s first commercial oil shale operation and production “…Leading the way to more than two trillion barrels of oil shale deposits in the Green River Formation, writes the U.S. Federal News Service.
U.S. Oil Shale Could Make You $551,900 in the Next Few Years
You may be aware of a similar situation going on, right now in the oil business, in an area called the Alberta Oil Sands.
This region in Northern Canada holds billions of barrels of oil, which also happen to be locked inside large amounts of sand and rock. Because in their recent analysis of the Green River Formation, the Energy Department wrote that the opportunity to make money in U.S. oil shale is Comparable to Alberta, Canada Oil Sands. If you know anything about Canadian oil sands, you know for the past 5 years they’ve been moneymaking machine.
One company to watch is Black Dragon Resource Companies (OTC PK: BDGR).
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