The Geological Survey said just gave Americans some wonderful news.
A new discovery shows that around 20 billion barrels of oil and 1.6 billion barrels of natural gas liquids, on average, are available for the taking in the Wolfcamp shale region of Texas, according to Business Insider.
Those deposits are worth about $900 billion if the numbers are based on West Texas Intermediate crude oil price of around $45 per barrel.
There is already active “fracking” in the area — but, to their surprise, they found out that they haven’t even made a dent.
“The fact that this is the largest assessment of continuous oil we have ever done just goes to show that, even in areas that have produced billions of barrels of oil, there is still the potential to find billions more,” Walter Guidroz, program coordinator for the USGS Energy Resources Program, said in a statement.
Now, imagine a president who will [a] free up restrictions so American energy companies can drill here and [b] not having to rely on the a state that sponsors terrorism for our fuel.
Also, check out this map from the USGS showing the area where the deposit was found:
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