There is an estimated 2 trillion barrels of oil buried beneath of Colorado, Utah and Wyoming.
Geologists, petroleum companies and the federal government have known about these massive deposits for - nearly a century.
Ex. It is believed that the shale deposits in the Green River region of Colorado, Utah and Wyoming are holding the equivalent of approximately 1.5 trillion to 1.8 trillion barrels of oil.
Still, if only half can be extracted, scientists believe the amount is nearly triple the oil reserves of Saudi Arabia.
RE: Sen. Orrin Hatch (R-Utah) - "I cannot sit by while gas prices are going through the roof, and while I hear from constituent after constituent about the disastrous effect gas prices are having on their livelihoods and their businesses," Hatch said. "Why has Canada moved forward in leaps and bounds, while the United States has yet to take even a baby step in this direction? I believe the difference has been the government policies of the respective countries. We need to change that."
Sen. Orrin Hatch (R-Utah) -
RE: Colorado and Utah, there is more recoverable oil than in the Middle East?" -
Ex....Grace Gratia Gratus....
Sen. Orrin Hatch (R-Utah) - was asked to testify today in front of the Senate Energy and Natural Resources Committee on his efforts to develop fuel from a vast untapped domestic oil reserve in tar sandsand oil shale -- a large part of which sits in eastern Utah.
"Who would have guessed that in just Colorado and Utah, there is more recoverable oil than in the Middle East?" Hatch said....
"We just don't count it among our nation's oil reserves because it is not yet being developed commercially. I find it disturbing that Utah imports oil from Canada tar sands, even though we have a larger tar sands resource within our own boundaries that remains undeveloped."
According to the U.S. Department of Energy, recoverable oil shale in the western United States -- located mainly in Utah, Colorado and Wyoming -- exceeds one trillion barrels and is the richest -- and most geographically concentrated oil shale and tar sands resource in the world.
Hatch noted that Canada recognized the potential of the large tar sands deposits in the province of Alberta and developed a government policy to go promote their development -- increasing its oil reserves by more than a factor of 10.
Hatch is working with Senators Bennett (R-Utah), Allard (R-Colo.), and Salazar (D-Colo.) to develop a bill - that would encourage development of commercially - viable oil from oil shale and tar sands.