US Oil Shale holds World’s most recoverable crude oil reserves and we know it. At one time America bowed the knee to OPEC, especially during the Seventies and that oil crisis where the Saudis led the world’s Oil producers to do their own thing. They made billions of dollars and did not care a whit for the American consumer. Now today, where we live; the world’s largest coal reserves is now shuttered because of the Obama administration’s anti-carbon push. The oil shale is also shutter, both in Wyoming and in North Dakota. Thousands and thousands affected, laid off, and towns in crisis.
The thought here is that we may have the largest recoverable oil, but right now the rigs are shut down, the oil shale is shut down, the coal mines shut down either completely or to skeleton staff. Coal mines in bankruptcy are also a deal here. Oil mineral tax’s for the state are shuttered to a trickle, and the state has slashed it’s own budget. So excuse us for our disaffection towards the title.
The fact that we have all that oil, and coal; does nothing much to soothe many unemployed right now. Nor the towns who laid out funds to accommodate all those extra workers. So when things go bust like this, everyone suffers.
One thing though, these are oil reserves and the companies will be back as will the jobs when the time is right.
WIBR/WARN Commentary on US Oil Shale holds World’s most recoverable crude oil reserves
Now read this, US Oil Shale holds World’s most recoverable crude oil reserves; [original title: Move over OPEC, U.S. now has the world’s biggest oil reserves: study]
Move over Venezuela, there is a new contender for the title of the world’s largest crude oil reserves holder. Thanks to its shale riches, the United States now holds more recoverable crude oil reserves, according to a new study by Rystad Energy, a Norwegian energy consultancy. Using its own methodology, the consultancy says the United States… [Read more…]