Rep. Hastings said that according to the U.S. Geological Survey (USGS), the U.S. holds more than half of the world's oil shale resources. The largest known deposits of oil shale are located in a 16,000-square mile area in the Green River formation in Colorado, Utah and Wyoming. USGS estimates show the region may hold more than 1.5 trillion barrels of oil -- six times Saudi Arabia's proven resources, and enough to provide the United States with energy for the next 200 years.
On February 1, the House NR Committee approved H.R.3408, the "Protecting Investment in Oil Shale the Next Generation of Environmental, Energy, and Resource Security Act" or "PIONEERS Act" as part of the House American Energy & Infrastructure Jobs Act (H.R.7). The sponsor, Rep. Doug Lamborn (R-CO) said, "Oil Shale is one of the most promising new sources of American-made energy and the United States is fortunate to have an abundance of oil shale resources. These resources are an important component of America's energy future. This bill removes the uncertainty from oil shale development and opens up land for both research and commercial development of oil shale. It will create consistent policies that businesses can rely on to move forward, contribute to our energy security, and create good paying American jobs for thousands of Americans."
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