Oil Oil Everywhere

[VR021302]

The U. S. Geological Service issued a report in April ('08) that only scientists and oil men knew was coming, but man was it big. It was a rev ised report (hadn't been updated since '95) on how much oil was in this area of the western 2/3 of North Dakota; western South Dakota; and extreme eastern Montana ..... check THIS out:

 

The Bakken is the largest domestic oil discovery sinceAlaska 's Prudhoe Bay, and has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels.. Even if just 10% of the oil is recoverable... at $107 a barrel, we're looking at a resource base worth more than $5.3 trillion.

 

'When I first briefed legislators on this, you could practically see their jaws hit the floor. They had no idea.' says Terry Johnson, the Montana Legislature's financial analyst.

 

'This sizable find is now the highest-producing onshore oil field found in the past 56 years.' reports, The Pittsburgh Post Gazette. It's a formation known as theWilliston Basin, but is more commonly referred to as the 'Bakken.' And it stretches from Northern Montana, through North Dakota and into Canada. For years, U. S. oil exploration has been considered a dead end. Even the 'Big Oil' companies gave up searching for major oil wells decades ago. However, a recent technological breakthro ugh has opened up the Bakken's massive reserves.... and we now have access of up to 500 billion barrels. And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL!

 

That's enough crude to fully fuel the American economy for 41 years straight.

 

2. And if THAT didn't throw you on the floor, then this next one should - because it's from TWO YEARS AGO!

 

U. S. Oil Discovery- Largest Reserve in the World!

Stansberry Report Online - 4/20/2006

 

 

Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world. It is more20than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. In three and a half years of high oil prices none has been extracted. With this motherload of oil why are we still fighting over off-shore drilling?

 

They reported this stunning news: We have more oil inside our borders, than all the other proven reserves on earth. Here are the official estimates:

 

- 8-times as much oil as Saudi Arabia

- 18-times as much oil as Iraq

- 21-times as much oil as Kuwait

- 22-times as much oil as Iran

- 500-times as much oil as Yemen

- and it's all right here in the Western United States .

 

HOW can this BE? HOW can we NOT BE extracting this? Because the environmentalists and others have blocked all efforts to help Americabecome independent of foreign oil! Again, we are letting a small group of people dictate our lives and our economy....WHY?

 

James Bartis, lead researcher with the study says we've got more oil in this very compact area than the entire Middle East -more than 2 TRILLION barrels untapped. That's more than all the proven oil reserves of crude oil in the world today, reports The Denver Post.

 

Don't think 'OPEC' will drop its price - even with this find? Think again! It's all about the competitive marketplace, - it has to. Think OPEC just might be funding the environmentalists?Got your attention/ire up yet? Hope so!

[Matt_]

It hasn't been tapped because its in SHALE form.... You can't just drill and pump out oil, it has to be converted into useful oil through artificial methods which are not currently cost effective (or very feasible for that matter)

 

Interesting how the article leaves out those facts.... And instead lies to us by saying its pure sweet oil.... i hate political fearmongering

[gave20]

Thanks to Cap and Trade this oil will never see the light of day.

[mr_bots]

It hasn't been tapped because its in SHALE form.... You can't just drill and pump out oil, it has to be converted into useful oil through artificial methods which are not currently cost effective (or very feasible for that matter)

 

Interesting how the article leaves out those facts.... And instead lies to us by saying its pure sweet oil.... i hate political fearmongering

 

+1, this has been brought up several places many times

[VR021302]

I was just posting it cuz I was bored, and just recieved it in a e-mail

[DofD]

The problem is that the Bakken oil is more difficult to get out of the ground than middle eastern oil deposits. Which means its price per barrel to produce is higher. At least with current technology. There are other problems too. The piping capacity infrastructure isn't there to actually move the oil. What piping capacity is there is already in use. There is also reluctance to invest in the technology and infrastructure to utilize more of Bakken due to the political preference for investing in alternative energy sources.

[tobias]

Holy ShWon those hamburgers sure do know how to beat a femur stain.

[ryan_hermanutz]

It has more to do with financially viable potential than Cap and Trade. Each refinery that operates is set up for a specific type of oil, be it the sweet crude from Alaska or the sandy crude from the Middle East. For a refinery to change the type of oil it receives they must do some major modifications to the instruments, vessels, tanks, most everything to get it to work. It would be a lot like changing your gas engine to a diesel, we all know it is possible but remember the problems they had when they converted the 350 into a 6.2 diesel. The last oil refinery was built in 1976 and for us to refine shale oil, we would need to build at least a few. It’s a nice talking point, but not very practical.

[mkelly]

Also keep in mind that the majority of the numbers in that e-mail are bogus...... There is oil, just not as much or as easy to get as the e-mail would have you believe......

 

 

http://www.snopes.com/politics/gasoline/bakken.asp

[tobias]

Get the oil, get the oil, fWONk the Earth in the goat Won!!!!

[bigredmariner]

Get the oil, get the oil, fWONk the Earth in the goat Won!!!!