Green River Formation has 3 Trillion Barrels of Oil: GAO

"According to the Government Accountability Office, the Green River Formation covers areas of Colorado, Utah and Wyoming and together has about as much recoverable oil as the entire world’s proven reserves, combined.  The land that the large oil field sits on is mostly vacant and under federal control.

The GAO testified before Congress saying that the US government was in “a unique position to influence the development of oil shale” because the Green River deposits were mostly on federally owned land.  However, the GAO did warn of possible environmental impact which could pose a problem as this area would swell up with workers in these small towns.  The GAO went on to say that local governments could have a hard time adapting to accommodate higher populations.

The USGS has estimated that the Green River Formation has about 3 trillion barrels of oil which about half may be recoverable. However, even after only half is recoverable, it is still the largest reserve in the world.

This is huge for the US who has been trying to gain energy independence for some time.  Originally, people thought the only way to get there was only natural gas.  After this find, it appears oil is here to stay a little longer..."

at http://www.valuewalk.com/2012/05/green-river-formation-has-3-trillion-barrels-of-oil-gao/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+valuewalk%2FtNbc+%28Value+Walk%29