The US claims that there are significant oil and gas reserves in Wyoming.

The U.S. Interior Department announced on Wednesday that a new federal assessment identified significant oil and gas reserves in Wyoming, Utah, and Colorado which are technically recoverable but have not yet been discovered. Interior Department announced on Wednesday.

Why it's important

The U.S. Geological Survey's Mowry Composite Total Petroleum System, which is also known as the Mowry Composite Total Petroleum System, could boost domestic energy supplies and align with the Trump Administration's plan to increase drilling and mining on federal lands. The Mowry Composite TPS includes most of southwest Wyoming, as well as small parts of Utah and Colorado.

KEY QUOTE

Interior Secretary Doug Burgum stated in a press release that "this new USGS Assessment highlights the role of American Energy Resources in strengthening our energy security and driving economic growth across the West."

CONTEXT

The President Donald Trump’s strategy of reducing regulatory barriers for domestic fossil fuels and metals production includes the push to increase drilling and mining in public lands.

By the Numbers

The assessment estimates that there are 473 million barrels oil and 27 trillion cubic feet of natural gases. Since 1950, the Mowry Composite System has produced 7.3 trillion cubic foot of natural gas and approximately 90 million barrels oil.

What's Next?

The Bureau of Land Management oversees the energy development of federal lands.

(source: Reuters)