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Old 05-16-2012, 11:37 AM   #1
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Easy way to pay off the National Debt

"The Green River Formation — an assemblage of over 1,000 feet of sedimentary rocks that lie beneath parts of Colorado, Utah, and Wyoming — contains the world's largest deposits of oil shale."

"nearly three-quarters of the oil shale within the Green River Formation lies beneath federal lands"

"The standard royalty payment in the oil and gas business is “one-eighth of production free and clear of costs” or 12.5 percent of the value of the oil extracted. Assuming that the 3-trillion barrel figure is accurate and that the price of oil remains in the neighborhood of $100 per barrel, then the federal non-tax revenue from royalties alone could be as high as $37.5 trillion. However, that figure is no doubt an overestimate of revenue."

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Old 05-16-2012, 01:44 PM   #2
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Making the bad assumption that the NIMBY's could be shut up, it won't work anyway.
The government will just eat that money in the usual way, while continuing to run a deficit and roll the debt endlessly as before. It's a solution to the wrong problem.

And ... it's gone. And all that "tax" money (which is all it is) means we all paid the other X% to some oil company to burn our last reserves in a world where keeping some seems a wise move for the future. For now, let's continue to let the Canadians be stupid about this and sell us theirs on the cheap.
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Old 05-16-2012, 05:17 PM   #3
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How about just sell federal land? Most of the western US is federally owned.
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Old 05-16-2012, 08:29 PM   #4
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I agree to that! So, I want to lease a thousand square miles of the Green River formation.

......................How much sir?!?!
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