http://cnsnews.com/news/art...e-world-s-proven-oil

quote The Green River Formation, a largely vacant area of mostly federal land that covers the territory where Colorado, Utah and Wyoming come together, contains about as much recoverable oil as all the rest the world’s proven reserves combined, an auditor from the Government Accountability Office told Congress on Thursday. The GAO testimony said that the federal government was in “a unique position to influence the development of oil shale” because the Green River deposits were mostly beneath federal land.

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Hmmmm ... "Recoverable" vs. "Proven." At this point, "recoverable" means both "an estimate" and "potentially recoverable," but it does not necessarily mean "economically feasible." It always jerks my chain every time some new developer proclaims, "the potentially recoverable oil and gas in my new field exceeds the entire world's proven reserves." Yeah ... right ... prove it!

[This message has been edited by Marvin McInnis (edited 05-13-2012).]

Every oil field known to man has been mapped and drilled at one point or another.

New technology may make it more feasible, productive and more profitable, but there is no easy oil anymore. There is no spindle top.

If it was easy oil to get and good oil, it would have been tapped out a long time ago.

We are down to the sour tar stuff now.