According to the Government Accountability Office, the Green River Formation, a largely vacant area of mostly federal land that covers the territory where Colorado, Utah and Wyoming come together has more recoverable oil than the rest of the world combined.
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.’
“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.
Given that current U.S. daily oil consumption is running at 19.5 million barrels, the staggering amount of Green River reserves would by itself supply domestic oil consumption for more than 200 years. That sure blows the heck out of the “peak oil” theory that the world is running out of oil.
The GAO also cited potential environmental impacts from producing oil from the Green River shale that included the need to draw large amounts of water, possible harm to water quality, and temporary degradation of air quality and the clearing of large amounts of vegetation.