A recent U.S. Geological Survey assessment of previously undiscovered gas and oil in Texas' Permian Basin has found that there are enough resources there to fuel the entire nation for months.
The gas and oil, measured in trillions of cubic feet and billions of barrels, are located in the Woodford and Barnett shale, which to date have produced only a day's worth of U.S. oil consumption.
The assessment found that there are technically recoverable resources of 28.3 trillion cubic feet of gas and 1.6 billion barrels of oil, the USGS said in its release.
According to the USGS, that's enough gas to supply the United States for 10 months at the current rate of consumption, and enough oil for 10 weeks.
The Woodford and Barnett shales, which stretch from the Permian Basin to southeastern New Mexico, have produced about 26 million barrels of oil since the late 90s, the USGS said — or enough oil for one day of U.S. consumption.
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