Originally Posted by
mulcher
From the article I posted above.
The Energy Department and private industry estimate that a trillion barrels are here in Colorado — about the same amount as the entire world's known reserves of conventional oil. The entire Green River Formation might hold as much as 2 trillion barrels.
I also read from another study not the USA today that at $25pbl it is a money maker.
As I've said before, I think the response at the next quarterly profits from the oil companies earnings will be that of total "outrage". Of course, congress will huff and puff and do...................NOTHING. I wonder what it's going to take to get this stuff under control? We're making a LOT of our good friends in the middle east richer. This morning on CNBC, they were still talking about $50-60 a bbl, and that $20-$25 is a built in "war premium" that needs to be adjusted since nothing major is really happening. I'd really like to ask the traders who they think they're helping by jacking up the prices like they have.