http://thenewamerican.com/tech/ener...r-formation-worlds-largest-oil-shale-deposits
"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."
Discuss!
"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."
Discuss!
