BLM Issues Proposed Regulations For Oil Shale Development: Updated

This is a promising starting step to getting at the estimated 800 billion barrels of oil contained in the shale formations. The Bureau of Land Management also says they have issued leases for five research, development and demonstration sites in Colorado and Utah. I say faster please!

The Department of the Interior’s Bureau of Land Management today published proposed regulations to establish a commercial oil shale program that could result in the addition of up to 800 billion barrels of recoverable oil from lands in the western United States.

In keeping with the Energy Policy Act of 2005 and the Mineral Leasing Act of 1920, the BLM is proposing regulations that would provide the critical “rules of the road” on which private investors will rely in determining whether to make future financial commitments to prospective oil shale projects.

“As Americans pay more than $4 for a gallon of gasoline and watch energy prices continue to climb higher and higher, we need to be doing more to develop our own energy here at home, through resources such as oil shale,” said Secretary of the Interior Dirk Kempthorne. “Instead, I find it ironic that we are asking countries halfway around the world to produce more for us.”

Oil shale is a fine-grained sedimentary rock containing organic matter from which oil may be produced. The regulations would provide for a thoughtful, phased approach to oil shale development on public lands in the West. Commercial development of oil shale will not begin until it is technologically viable, which is not expected for several years.

The Bureau of Land Management (BLM) is only publishing proposed regulations at this time because the Consolidated Appropriations Act for Fiscal Year 2008 prohibits the agency from using FY2008 funds to prepare or publish final regulations. The President has called on Congress to remove the ban on finalizing oil shale program regulations.

(HT: Instapundit)
Of course it is the Democrats in Congress that are blocking this and yet another reason to vote them out of office. I don't care if it will take several years to develope the technology that is a huge amount of oil and the sooner we start working on it the better for America.
Here is McCain's latest related ad.

Update: Sen. James Inhofe blasted the Democrats in a speech on energy today and he is right, and it is a must read if you care about this.

“I believe that America is not running out of oil and gas or running out of places to look for oil and gas. America is running out of places where the Democrats in Congress are allowing us to look for oil and gas. Again I ask, why should producing America's own resources be a partisan issue? It shouldn't be, but it is. The Democrats in Congress refuse to increase our supply of energy... and gas prices keep rising… I call on the Democrats to act to expand refinery capacity and to open the nation's access to the Outer Continental Shelf, ANWR, and the Rocky Mountain oil shale, and preserve access to Canadian oil sands. Today's American oil producer operates with the most sophisticated environmental technologies and policies on the planet. 67 percent of the American people recognize the need for development and support action. It’s time to end the Democratic Party’s obstruction. The American public must demand that the Democrats in Congress allow us to produce our own resources.”

(HT:Icecap)