Monday, June 30, 2008

U.S.'s new Gold mine out West

Since the dollar has not been doing so well and the US has fallen into a recession, the state and national economies will see somewhat lower overall growth largely in response to rising interest rates and high energy costs.

Expected state unemployment rates:
5.5% 2006
5.6% 2007
Manufacturing Jobs Lost in 2006-07:

Personal Income Growth:
5.3% in 2006
5.4% in 2007
Overall job growth:
1.2% in 2007
New Jobs:
35,000, 2006
34,100, 2007

With gas rising, oil topped today at $143/Barrel which makes the average gas price At $4.086/gallon.

Well there's good news folks, I was watching CBS news tonight and found out that there's at least trillions of barrels of oil in Western Colorado.

This may take a while since all this oil is found in the mountains and Shell states it wil take about 4 years of research here before it will know if it has the answer. There is no dispute that a thousand feet below the isolated ranch country here on Colorado's western slope lie almost unimaginable oil riches. It's locked in sedimentary rock — essentially immature oil that given a few million years under heat and pressure would produce pools of oil easy to extract.

The Energy Department and private industry estimate that a trillion barrels are here in Colorado — about the same amount as the entire world's known reserves of conventional oil.
The entire Green River Formation might hold as much as 2 trillion barrels.

This new discovery of oil shale holds out the hope of a USA no longer dependent on foreign oil.
Maybe we can get our troops back out in the Middle East.

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