Yes it is true, but it is not liquid oil. The state of Utah has more oil in the form of oil shale, than the entire oil reserves of the middle east. The problem has always been that there was not an economical way to extract it from the shale. But now, new research has provided a way to extract it at about $30 a barrel, as opposed to the current going rate of $100 a barrel that is currently charged by OPEC. So now new legislation is being passed to allow oil companies to harvest oil in Utah, and the beginning phases of production are already underway.Is it true that the US has found a vast oil reserve in the state of Utah?
There are geoligists who claim there is a vast oil reserve under the rocky mountain range.
The consensus is that it may never be economically ';viable'; to extract this low grade crude.
Does this help any?Is it true that the US has found a vast oil reserve in the state of Utah?
no
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