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Jeff Bowles
WSC ADMIN
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#1 Posted: Thu Dec 10th, 2009 12:59 |
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Snopes says that there is some truth to all this. Read the article and then Snopes.....
http://www.snopes.com/politics/gasoline/bakken.asp
And the reason this has not been shouted from the
mainstream media
is.............?
About 6 months ago I was watching a news program on
oil and one of the Forbes
Bros. was the guest. This is out of context, but this is
the actual question as
asked. The host said to Forbes, "I am going to ask you
a direct question and I
would like a direct answer, how much oil does the
U.S. have in the ground."
Forbes did not miss a beat, he said, "more than all
the Middle East put
together." Please read below.
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 revised
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
since Alaska '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
the Williston 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 breakthrough 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 2041 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 more than 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 blockedall efforts to
help America become
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!
Now, while you're thinking about it
... and hopefully P.O'd, do this:
3. Pass this along. If you don't take a
little time to do this, then you
should stifle yourself the next time you want to complain
about gas prices---
because by doing NOTHING, you've forfeited your right
to complain
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Now I just wonder what would happen in this country if
every one of you sent
this to every one in your address book.
By the way...this is all true. Check it out at the
link below!!!
GOOGLE it or follow this link. It will blow your
mind.
http://www.usgs.gov/newsroom/article.asp?ID=1911
____________________
In God We Trust - Politicians We Watch Very Closely!
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targetter
WSC Member
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#2 Posted: Wed Mar 3rd, 2010 18:17 |
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Checked the EIA/DOE website at http://tonto.eia.doe.gov/ftproot/features/ngshock.pdf for more info on all this oil. The 503 billion barrels mentioned in the article is a dead guys estimate of the potential total reserve number of barrels of oil (not recoverable barrels, necessarily) of the Bakken formation. Recoverable oil is on the order of 10% of total reserve barrels (according to the EIA article) so the Bakken may produce on the order of 27 to 50 billion barrels, which is still quite a lot but obviously not the much bigger number shown in the news article. Three thoughts on that:
1. If you are wondering why we'd use up THEIR oil before we use up OUR oil, think about how hard and costly it will be to defend THEIR oil in the future when global supplies are severely diminished (vs merely beginning to decline as they are now) and how easy it will be to defend OUR oil in the future when THEIR oil is going or gone. This is an optimistic scenario that assumes no harm from converting oil to CO2 which is what we do with most of it.
2. A less optimistic scenario would say: If we keep burning oil rather than switching to some renewable, sun based form of energy (this includes wind, which is sun generated), we will render this planet uninhabitable and nobody will be using either THEIR oil or OURs.
3. In any case, oil is best used for durable goods, as in some plastics, and for military fuel, as long as we have not been clever enough to replace that with something less harmful.
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