Friday, June 02, 2006

Shale Oil in 2 or 3 years?

That's what an energy company in Eastern Utah claims at a price of $40.00 per barrel.
It's estimated that Utah has more oil in shale deposits than there is oil in Saudi Arabia, according to John Baardson, chief executive officer of Oil Tech partner BAARD Energy.

And throughout Utah, Colorado and Wyoming, an estimated 1 trillion barrels of oil are locked in shale, compared with about 700 billion barrels of untapped oil in the entire Middle East, he said.
There needs to be some means to prevent this from being undercut by cheap oil overseas. We need to do everything we can to deprive the Arabs, Nigeria and Venezuela of oil revenues.

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