Easy way to pay off the National Debt

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more. You can visit the forum page to see the list of forum nodes (categories/rooms) for topics.

Please have a look around and if you like what you see, please consider registering an account and joining the discussions. When you register an account and log in, you may enjoy additional benefits including no ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

benjamen

Yellow Jacket
Messages
1,574
Reaction score
9
Points
0
Location
Migratory
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!
:popcorn:
 
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.
 
OK!

I agree to that! So, I want to lease a thousand square miles of the Green River formation.

......................How much sir?!?!
 
Back
Top Bottom