If the oil can be recovered. If a bullfrog had wings, it wouldn't bump its ass all the time.<quoted text>
You said we don't have enough oil in the ground. Where did you get that information?
A recent report by the U.S. Government Accountability Office estimated that if half of the oil bound up in the rock of the Green River Formation could be recovered it would be "equal to the entire world's proven oil reserves." Both the GAO and private industry estimate the amount of oil recoverable to be 3 trillion barrels. "In the past 100 years in all of human history -- we have consumed 1 trillion barrels of oil. There are several times that much here," said Roger Day, vice president for operations for American Shale Oil (AMSO).
Running from Los Angeles to San Francisco, California's Monterey Shale is thought to contain more oil than North Dakota's Bakken and Texas's Eagle Ford -- both scenes of an oil boom that's created thousands of jobs and boosted U.S. oil production to the highest rate in over a decade. In fact, the Monterey is thought to hold over 400 billion barrels of oil, according to IHS Cambridge Energy Research Associates. That's nearly half the conventional oil in all of Saudi Arabia. The United States consumes about 19 million barrels of oil a day. "Four hundred billion barrels, that doesn't escape anyone in this businesses," said Stephen Trammel, energy research director at IHS.
These are just a few sites where huge amounts of oil have been found. There are many more we are sitting on. We could become energy independent and then not have to depend on the Middle East and all their turmoil and instead of energy prices increasing, they would decrease.
By the way, gas prices yesterday here 3.35, today 3.49.
What would you expect oil guys to say?
Anybody can pull figures out of the air, out of their ass, or out of their camel saddlebags.
Gas is still $3.299 here.