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And drilling in the US is one of the most important decision facing this country -- -- that Republicans and Democrats still cannot agree upon.
But drilling for oil isn't the only way to achieve energy independence our -- Ainsley Earhardt discovers there is another huge untapped energy resource right here in America.
That is greater than all of the oil reserves on all of Saudi Arabia.
There's an awful shelling United States and actually agree reformist alone to satisfy our present energy demands for the next 100 years what's.
We develop also reserves we could effectively become the Saudi Arabia able ship.
DNA falcon is the CEO of -- -- oil shale exploration company a global leader in oil shale production will -- the cemetery rock located 2000 feet underground that contains a solid organic matter -- Karajan.
Of which one time -- as equivalent to 25 to thirty barrels.
Of crude oil well there's approximately two point five trillion barrels of known resources.
-- still in the in the world.
And 72% of that the United States or approximately.
One trillion what Buffy two trillion barrels are here in the United States.
And of that about.
Close to one point five trillion of it is in the Green River formation which is parts of western Colorado.
Eastern Utah on southern Wyoming.
A thirty year old federal moratorium has prevented domestic oil shale production.
But now in the public pressure this year is energy bill included the last minute revision by Utah congressman Jim Matheson to lift that ban.
We -- in a situation where we've had a rapid increase the price of oil and rapid increase the price of gasoline for consumers.
And that has helped affect people's.
Opinion of oil shale and it's giving given people more open opinion about pursuing that.
I don't care -- a Democrat or Republican who it is I just wanna have good policy built this country and whatever people's motivations are their vote open of this resource I'm good at that.
The ratio of Democrats are willing to go forward because they realize that there are bad political position because they've done everything they can deter.
And the development of our own resources.
It's as though oil is a terrible thing and I'll tell you -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- And that's what our country.
At the same time sending 700.
Billion dollars a year.
To people over say as many would that if we're not proved that to -- none of these ridiculous.
I think it's very very harmful to our country.
Utah senator Orrin hatch a longstanding proponent of oil shale production.
Fought hard to end the federal moratorium.
You know what really burns me Democrats claim that -- for the poor.
The worst thing they're doing into the pores preventing us from developing known oil because.
The poor spending up to 50% of their income for home heating for fuel to drive their cars to get to work and so we're up to 50%.
And guess who's doing it -- If these people who are in the pockets of radical environmentalists are not but for environmentalists were all that we don't want clean -- clean water.
But radical environmentalists.
Were Mecca almost impossible for the -- to us.
To exist and have additionally.
Environmentalists and like minded lawmakers argue the technology to mind -- extract oil shale is -- proved costly and harmful to the environment.
All all still developers.
Understand -- that we -- that it would to be responsible stewards of the environment we are working Owen Owen.
Multiple different technologies that will minimize.
Any any any damages to the environment.
We can capture the CO two is sequestered in the ground.
We have multiple.
Alternatives first -- jail even though it's it's been determined to be environmentally friendly.
But we have applications in that that other countries are doing in that the building industry making -- out of it using it as a road base using it to.
Is as an aggregate for cement.
There's there's -- -- opportunities in other countries and parties that that -- have already developed.
Using speech hailed as as as as of product for building materials.
Right now there are two processes used to extract oil shale -- to an exit she.
Shell Oil companies experimenting with the institute technology in Colorado.
Use is these superheated rod underground to warm the rocking gas at by the carriage and using a well to extract oil.
Shell surrounding the rods with a forty foot wall of ice prevents groundwater pollution.
Exit she reminds the rock and converts it into oil above ground.
Close second Brazil based oil company Petro brass have entered into a joint venture with planes teased Patrick racists proven execute technology known as -- -- six.
Right here in Utah.
Well just affect we have food proven technology for more than thirteen is a pretty busy with a lot of surface -- -- We would like -- also flew to share this kind of results and his achievements and -- With or the ocean projects and around the would then we believe that he can do we use those challenges we used to say fifty -- so.
But like to be part of this and other successes that you know that.
In addition to Brazil Dan -- and points to Estonia China Russia Germany.
Israel Australia in Jordan.
As examples of the riding an environmentally sound oil -- -- Streets.
Even though these other countries have been developing their beer or -- resources for many many many years the United States has 72% of the world's or so they get the lion's share of the world's wholesale.
And the time is now for us to start developing it it's we we we know that the technology is available as result of these other countries.
And and and and this will create.
Industry for us it will help help help our economy and definitely be a huge benefit to our national security.
By most estimates the development of oil -- will take two to five years before we see any available for commercial sale.
But once it's developed America's dependency on foreign crude oil will become foreign dependency on America's shale oil.
And our own aides here -- -- that look.
This is what we'll show you that this fact oil shale they come up -- this new technology would they can microwave this wallets in the ground.
Liquefied right and extract U.
We wax -- says that it that comes from the from heating net write that gas they can turn into the oil.
And rehab the lion's share worth of oil shale here in the US right in fact we have 73%.
Of the world's oil shelf here in our country so this is a matter of national security that.
This rock to extract it has been too expensive the price of oil has the guy high enough and do you think it will exist after talking to everybody I think that it will and I think I think we're getting closer at least.
And all the experts we talked to said about two to five years shall have to wait and see if it thanks thanks John appreciate.
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