Scientists Confirm U.S. Has World’s Biggest Oil Reserves, page 1

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Topic started on 8-7-2009 @ 07:15 PM by RedGolem

This thread is in refrence to the U.S. holding the largest oil reserves in the world but is doing little to tap them.

It has been more than a year since the Department of Interior announced that North Dakota and Montana have an estimated 3 to 4.3 billion barrels of recoverable oil in an area known as the Bakken Formation, but little is being done about it.

“This sizable find is now the highest producing onshore oil field found in the past 56 years,” said The Pittsburgh Post Gazette.

James Bartis, leading researcher with the study, says America has more oil in this one compact area than the entire Middle East. And the stunning news is that we have more oil inside our borders than all the other proven reserves on Earth, and that it could be extracted at an approximate cost to Americans of only $16 a barrel.sorce

So the question I want to pose is why have these oil reserves not been taped?

reply posted on 8-7-2009 @ 07:18 PM by tothetenthpower

Because drilling for oil is stupid and we have other alternative means of getting energy.

That and it would take 10 years for the construction and processing of that oil to take effect for it to be usable.

By that time Oil will have become the energy of the past.

It's no longer a viable option to keep drilling for a substance that is both harmfull and a key money maker for those in power.

Long live sustainable energy, screw oil.

~Keeper

reply posted on 8-7-2009 @ 07:20 PM by lagenese

Why? Well, the first answer that comes to my mind is that it would drive the price of oil too low to be profitable... Just my 2 cents...

reply posted on 8-7-2009 @ 07:21 PM by Zosynspiracy

First off peak oil is a scam. There is PLENTY of oil still left in the world to power the planet, our cars, for a lot longer. The oil reserves in North America are not easily tapped. That's the problem. it's very expensive to tap that type of oil in the US. It's not just sitting in a big underground well like in the Middle East. It's usually in tar sands or rock that has to be highly processed in order to recover the oil. Right now until technology catches up it's very cost prohibitive. US also has the biggest natural gas reserves in the world. Why aren't more cars and trucks powered by natural gas?

Tesla went to Rockefeller decades ago with his "free energy" and he was chastized and ridiculed by Rockefeller because there was no way to charge for it.

reply posted on 8-7-2009 @ 07:21 PM by nixie_nox

reply to post by RedGolem

Your topic is very misleading. All it is saying that this is the largest find in 56 years. That last find could of been five barrels in LA.

Considering the US uses 20 billion barrells per day, that would last,,, how long?

Five hours.

[edit on 8-7-2009 by nixie_nox]

reply posted on 8-7-2009 @ 07:22 PM by Kaytagg

Saudi Arabia has 266,000,000,000 barrels of oil under its feet.

James Bartis says that 3 billion barrels is more than this?

I think someone needs a basic lesson in mathematics.

reply posted on 8-7-2009 @ 07:35 PM by severdsoul

actualy they have and are being tapped, the problem is they are fractial drilling, which is the way they have to get the oil out, its not a big puddle of oil under the earth, so it is more costly to pump the oil from the ground, and a much slower process.
But there are many oil companies there , just check the local papers for oil field jobs.
A guy was in town a few weeks ago, that i was talking to and he said they cant find enough people to work. Although its hearsay,

reply posted on 8-7-2009 @ 07:41 PM by Agit8dChop

Iraq was recently announced to have the largest oil fields in the world.
Only years after the US Coprorations seized it.

funny huh?

Now the US apparently has the largest fields.

Who would of believed that the US foreign policy all lay around OIL!

reply posted on 8-7-2009 @ 07:42 PM by AshleyD

Originally posted by RedGolem
So the question I want to pose is why have these oil reserves not been taped?

Although environmentalists might be an answer, I have long had a hunch that it was more than that. Basically, the U.S. may be wanting to use up all the foreign resources first. Then when they're tapped out, we immediately have the market cornered on oil.

Kind of like the bratty kid that wants to share your toys until they're broken. They they wave good-bye, run on home, and take their brand new toys out of their plastic wrap.

I can't support the above in any way and I may be totally wrong. It's just so ridiculous that they do not drill in America so I can only think of that as a legitimate reason. They're waiting for the world to be tapped out and then suddently North America will be the new Saudi Arabia.

reply posted on 8-7-2009 @ 07:43 PM by RedGolem

All the information from the posts did help clear things up,
thanks for posting everyone.
If the cost listed is correct, sixteen a barrel, that should not substantively take away from the profits if it is taped.

reply posted on 8-7-2009 @ 07:46 PM by mopusvindictus

Originally posted by tothetenthpower
Because drilling for oil is stupid and we have other alternative means of getting energy.

That and it would take 10 years for the construction and processing of that oil to take effect for it to be usable.

By that time Oil will have become the energy of the past.

It's no longer a viable option to keep drilling for a substance that is both harmfull and a key money maker for those in power.

Long live sustainable energy, screw oil.

~Keeper

BRILLIANT.. there is better ways, they aren't being ignored or suppressed any longer

In an emergency we could do it faster than 10 yrs if we had to though

And I would also add and make the point

In case the alternative plans fail for any reason... It is exceptionally smart to hang on to what we have it assures another American Century even in light of current doom and gloom scenarios

reply posted on 8-7-2009 @ 07:58 PM by Kaytagg

reply to post by AshleyD

As I was reading, I thought the same thing -- until I got to the part (or lack thereof) where they mentioned having more oil reserves than the entire middle east.

In the article, some idiot named James Bartis says that "America has more oil in this one compact area than the entire Middle East," which has to be a reporting mistake by the author of this article.

It says right in the article that the Bakken Formation "would be 3,775 million (or 3.775 billion) barrels [of oil]," which is only 1.1% of Saudi Arabia's reserves (alone).

But there is good news on the whole controlling oil thing -- we invaded Iraq, and now we "own" the place, as Powell says (we broke it, so we bought it. Remember?). So I think you're still onto something. Surely when oil becomes more scarce, we'll be able to fleece the rest of the world on prices, since we own the second largest reserves of oil in the world.

reply posted on 8-7-2009 @ 08:04 PM by normal_human_being

Originally posted by Agit8dChop
Iraq was recently announced to have the largest oil fields in the world.
Only years after the US Coprorations seized it.

which corporations?

reply posted on 8-7-2009 @ 08:05 PM by mopusvindictus

reply to post by AshleyD

There is a moral issue in what we are doing, basically arranging to remain a super power and have world energy dominance...

In the end though as a people, we do still have a choice as to what we do with it and how we treat the rest of the world...

What they have done, we can not undo

But the time where this plan pays off that they have is far away...

Perhaps when that time comes, we can as a people use that power more wisely, be more generous with it... it is after all many elections away most likely

There is a new generation rising and when we have that situation, it won't be the people who laid these plots in charge of it but rather... Us

reply posted on 8-7-2009 @ 08:13 PM by Rockpuck

Originally posted by lagenese
Why? Well, the first answer that comes to my mind is that it would drive the price of oil too low to be profitable... Just my 2 cents...

Or we deplete the World Reserves and then open our oil coffers as the largest exporter of oil, providing the US Government in the future with guaranteed income should our production and economic output drop from 1st place among the World's largest economies?

That's the only reason I could ever think of not drilling American oil.

Hey, Obama. Stop companies from buying Saudi oil, or Venezuelan oil, and drill American oil and guess what?

We can afford your socialist programs!

reply posted on 8-7-2009 @ 08:16 PM by Southern Guardian

Seeing as these United states consumes nearly 25% of the worlds oil, seeing as the finding appears to be 3 billion barrels compared to Saudi's 266 billion barrels... this is suppose to solve our energy woes?

Do you know how powerful these oil corporations are? For all the "NWO" garbage, these oil companies have profits the size of some countries total GDP. I wouldnt be surprise if they are constantly tapping into other things other than oil, that is the gullible minds of the conservative contrarian.

The sooner we get ourselves off oil, the sooner these corporations end their money binge, the sooner we end our foreign dependence on the arab nations, the more money we have in our pockets a week, to less influence these speculators have, the sooner we get to actually move this nation forward.

This isnt just about environment, read between the lines.

[edit on 8-7-2009 by Southern Guardian]

reply posted on 8-7-2009 @ 08:16 PM by JaxonRoberts

reply to post by tothetenthpower

Gotta agree with Keeper here. The mantra "Drill, baby, drill" is the equivalent of "Kill, baby, kill" as far as the planet is concerned. We have the resposibility to improve the world we live in for our progeny, not continue to pollute it, and thus render it unlivable. Fossil fuels are not the solution, they are the problem!

reply posted on 8-7-2009 @ 08:21 PM by infolurker

reply to post by AshleyD

Funny that you mention that..... Common sense (and National Security) would stand to reason that if there is a limited supply of something like a critical resource, then use yours up last.

Kind of a "rainy day" fund.

Though I do not understand why we do not implement "Algae Oil" immediately.

[edit on 8-7-2009 by infolurker]

reply posted on 8-7-2009 @ 08:32 PM by Kaytagg

reply to post by infolurker

There are people in that business already.

I would imagine it all comes down to cost. When oil is $150 a barrel, it's definitely profitable to use blue algae.

On the other hand, if oil drops down to $30 a barrel, then not so much.

You also have to consider the cost of the land, and alternative investments with that land.

For 100 acres of blue algae, investors might find that it will be twice as profitable to simply grow corn, or some alternative use of the land.

Also, and this is a pure guess on my part, I don't think the entire USA could sustain it's current lifestyle on blue algae alone. That's purely a guess on my part, though.

reply posted on 9-7-2009 @ 06:38 AM by nixie_nox

reply to post by RedGolem

The sad thing is that I am looking at that number and I am thinking 20 BILLION barrells a DAY?

Its a wonder we don't have worse polllution problems then we do.
The answer isn't to drill for more. The answer is to get off the stuff.
Even if we were to drill this patch, it will dry up. Then we have to look for another, then another.
It is a lot like a drug habit.
Not only do we use a lot, but we use a heck of a lot more then other countries, but the total amount is staggering.

It is a wonder our planet has made this much oil.

www.nationmaster.com...

# 1 United States: 20,680,000 bbl/day 2007
# 3 China: 7,578,000 bbl/day 2007
# 4 Japan: 5,007,000 bbl/day 2007
# 5 Russia: 2,858,000 bbl/day 2007
# 6 India: 2,722,000 bbl/day 2007
# 7 Germany: 2,456,000 bbl/day 2007
# 8 Brazil: 2,372,000 bbl/day 2007
# 9 Canada: 2,371,000 bbl/day 2007
# 10 Saudi Arabia: 2,311,000 bbl/day 2007
# 11 Korea, South: 2,214,000 bbl/day 2007
# 12 Mexico: 2,119,000 bbl/day 2007
# 13 France: 1,950,000 bbl/day 2007
# 14 United Kingdom: 1,763,000 bbl/day 2007
# 15 Italy: 1,702,000 bbl/day 2007
# 16 Iran: 1,679,000 bbl/day 2006
# 17 Spain: 1,611,000 bbl/day 2007
# 18 Indonesia: 1,219,000 bbl/day 2006
# 19 Netherlands: 984,200 bbl/day 2007
# 20 Australia: 966,200 bbl/day 2007
# 21 Taiwan: 950,500 bbl/day 2006
# 22 Thailand: 928,600 bbl/day 2006
# 23 Singapore: 834,600 bbl/day 2006
# 24 Venezuela: 738,300 bbl/day 2007
# 25 Turkey: 676,600 bbl/day 2007
# 26 Egypt: 652,700 bbl/day 2006
# 27 Belgium: 628,500 bbl/day 2007
# 28 Argentina: 525,100 bbl/day 2006
# 29 Poland: 524,000 bbl/day 2007
# 30 South Africa: 504,900 bbl/day 2006
# 31 Malaysia: 501,100 bbl/day 2006
# 32 Greece: 441,400 bbl/day 2007
# 33 United Arab Emirates: 381,000 bbl/day 2006
# 34 Sweden: 353,700 bbl/day 2007
# 35 Pakistan: 345,000 bbl/day 2006
# 36 Philippines: 340,100 bbl/day 2006
# 37 Kuwait: 334,700 bbl/day 2006
# 38 Nigeria: 312,000 bbl/day 2006
# 39 Portugal: 301,000 bbl/day 2007
# 40 Iraq: 295,000 bbl/day 2007
# 41 Hong Kong: 293,100 bbl/day 2006
# 42 Austria: 289,400 bbl/day 2007
# 43 Ukraine: 284,600 bbl/day 2006
# 44 Algeria: 279,800 bbl/day 2006
# 45 Libya: 278,700 bbl/day 2006
# 46 Vietnam: 271,100 bbl/day 2007
# 47 Colombia: 265,400 bbl/day 2006
# 48 Chile: 253,000 bbl/day 2006
# 49 Switzerland: 244,900 bbl/day 2007
# 50 Kazakhstan: 243,100 bbl/day 2006
# 51 Romania: 238,200 bbl/day 2006
# 52 Israel: 232,300 bbl/day 2006
# 53 Syria: 229,000 bbl/day 2007
# 54 Finland: 228,200 bbl/day 2007
# 55 Norway: 224,500 bbl/day 2007
# 56 Puerto Rico: 215,000 bbl/day 2007
# 57 Czech Republic: 207,400 bbl/day 2007
# 58 Cuba: 203,500 bbl/day 2006
# 59 Ireland: 200,900 bbl/day 2007
# 60 Denmark: 190,600 bbl/day 2007
= 61 Belarus: 179,700 bbl/day 2006
= 61 Morocco: 179,700 bbl/day 2006
# 63 Peru: 167,900 bbl/day 2006
# 64 Hungary: 162,800 bbl/day 2007
# 65 Ecuador: 160,500 bbl/day 2006
# 66 Azerbaijan: 160,000 bbl/day 2007
# 67 New Zealand: 158,400 bbl/day 2007
# 68 Uzbekistan: 157,100 bbl/day 2006
# 69 Turkmenistan: 156,000 bbl/day 2007
# 70 Yemen: 135,400 bbl/day 2006
# 71 Dominican Republic: 117,300 bbl/day 2006
# 72 Jordan: 110,700 bbl/day 2006
# 73 Bulgaria: 109,600 bbl/day 2006
# 74 Qatar: 108,900 bbl/day 2006
# 75 Lebanon: 106,000 bbl/day 2006
# 76 Croatia: 101,800 bbl/day 2006
# 77 Panama: 92,790 bbl/day 2006
# 78 Virgin Islands: 91,680 bbl/day 2007
# 79 Tunisia: 91,110 bbl/day 2006
# 80 Bangladesh: 89,940 bbl/day 2006
# 81 Sri Lanka: 86,030 bbl/day 2006
# 82 Serbia and Montenegro: 85,000 bbl/day 2003
# 83 Slovakia: 82,860 bbl/day 2007
# 84 Sudan: 79,760 bbl/day 2006
# 85 Guatemala: 74,230 bbl/day 2006
# 86 Jamaica: 73,370 bbl/day 2006
# 87 Oman: 69,100 bbl/day 2006
# 88 Netherlands Antilles: 67,450 bbl/day 2006
# 89 Kenya: 65,530 bbl/day 2006
# 90 Luxembourg: 60,640 bbl/day 2007
# 91 Cyprus: 57,830 bbl/day 2006
# 92 Lithuania: 57,170 bbl/day 2006
# 93 Angola: 55,640 bbl/day 2006
# 94 Slovenia: 54,310 bbl/day 2006
# 95 Ghana: 49,300 bbl/day 2006
# 96 Honduras: 46,830 bbl/day 2006
# 97 Costa Rica: 45,600 bbl/day 2006
# 98 El Salvador: 44,330 bbl/day 2006
# 99 Burma: 43,140 bbl/day 2006
# 100 Armenia: 41,090 bbl/day 2006
# 101 Senegal: 36,200 bbl/day 2006
# 102 Latvia: 35,180 bbl/day 2006
# 103 Uruguay: 33,400 bbl/day 2007
# 104 Bahrain: 32,830 bbl/day 2006
# 105 Bolivia: 31,500 bbl/day 2007
# 106 Albania: 30,900 bbl/day 2006
# 107 Ethiopia: 30,450 bbl/day 2006
# 108 Estonia: 30,440 bbl/day 2006
# 109 Nicaragua: 28,880 bbl/day 2006
# 110 Paraguay: 28,000 bbl/day 2007
# 111 Bosnia and Herzegovina: 27,590 bbl/day 2006
# 112 Tanzania: 27,270 bbl/day 2006
# 113 Bahamas, The: 26,830 bbl/day 2006
# 114 Côte d'Ivoire: 25,950 bbl/day 2006
# 115 Trinidad and Tobago: 24,770 bbl/day 2007
# 116 Cameroon: 24,500 bbl/day 2006
# 117 Gibraltar: 22,620 bbl/day 2006
# 118 Mauritius: 22,450 bbl/day 2006
# 119 Macedonia, Republic of: 21,700 bbl/day 2007
# 120 Iceland: 21,120 bbl/day 2007
# 121 Namibia: 19,840 bbl/day 2006
# 122 Mauritania: 19,320 bbl/day 2006
# 123 Malta: 18,680 bbl/day 2006
# 124 Réunion: 18,500 bbl/day 2003
# 125 Madagascar: 18,190 bbl/day 2006
# 126 Papua New Guinea: 18,000 bbl/day 2006
# 127 Togo: 17,770 bbl/day 2006
# 128 Nepal: 16,960 bbl/day 2006
# 129 Macau: 16,570 bbl/day 2006
# 130 Moldova: 15,770 bbl/day 2006
# 131 Zambia: 14,760 bbl/day 2006
# 132 Zimbabwe: 14,590 bbl/day 2006
# 133 Mozambique: 14,390 bbl/day 2006
# 134 Martinique: 13,800 bbl/day 2003
# 135 Brunei: 13,200 bbl/day 2006
# 136 Gabon: 13,170 bbl/day 2006
# 137 Guadeloupe: 13,000 bbl/day 2003
# 138 Georgia: 12,980 bbl/day 2006
# 139 Mongolia: 12,860 bbl/day 2006
# 140 Guam: 12,780 bbl/day 2007
= 141 Haiti: 12,370 bbl/day 2006
= 141 Suriname: 12,370 bbl/day 2006
# 143 Kyrgyzstan: 12,330 bbl/day 2006
# 144 Botswana: 11,640 bbl/day 2006
# 145 Uganda: 11,570 bbl/day 2006
# 146 New Caledonia: 11,560 bbl/day 2006
# 147 Korea, North: 10,520 bbl/day 2006
# 148 Congo, Democratic Republic of the: 10,460 bbl/day 2006
# 149 Guyana: 10,440 bbl/day 2006
# 150 Fiji: 9,971 bbl/day 2006
# 151 Benin: 9,232 bbl/day 2007
# 152 Barbados: 8,674 bbl/day 2006
# 153 Guinea: 8,559 bbl/day 2006
# 154 Burkina Faso: 8,470 bbl/day 2006
# 155 Sierra Leone: 8,430 bbl/day 2006
# 156 Tajikistan: 8,000 bbl/day 2007
# 157 Congo, Republic of the: 7,677 bbl/day 2006
# 158 Aruba: 7,102 bbl/day 2006
# 159 Belize: 7,000 bbl/day 2006
# 160 French Guiana: 6,600 bbl/day 2003
# 161 Seychelles: 6,453 bbl/day 2006
# 162 Malawi: 6,160 bbl/day 2006
# 163 French Polynesia: 6,082 bbl/day 2006
# 164 Niger: 5,550 bbl/day 2006
# 165 Maldives: 5,490 bbl/day 2006
# 166 Rwanda: 5,320 bbl/day 2006
# 167 Eritrea: 5,186 bbl/day 2006
# 168 Djibouti: 5,066 bbl/day 2007
# 169 Somalia: 5,040 bbl/day 2006
# 170 Afghanistan: 5,036 bbl/day 2006
# 171 Mali: 4,640 bbl/day 2006
# 172 Faroe Islands: 4,628 bbl/day 2006
# 173 Bermuda: 4,566 bbl/day 2006
# 174 Antigua and Barbuda: 4,109 bbl/day 2006
# 175 American Samoa: 4,053 bbl/day 2006
# 176 Greenland: 3,927 bbl/day 2006
# 177 Cambodia: 3,736 bbl/day 2006
# 178 Liberia: 3,687 bbl/day 2006
# 179 Swaziland: 3,490 bbl/day 2006
# 180 Laos: 2,996 bbl/day 2006
# 181 Burundi: 2,956 bbl/day 2006
# 182 Saint Lucia: 2,780 bbl/day 2006
# 183 Cayman Islands: 2,767 bbl/day 2006
# 184 Guinea-Bissau: 2,520 bbl/day 2006
# 185 Central African Republic: 2,322 bbl/day 2006
# 186 Cape Verde: 2,117 bbl/day 2006
# 187 Gambia, The: 2,082 bbl/day 2006
# 188 Grenada: 2,043 bbl/day 2006
# 189 Western Sahara: 1,760 bbl/day 2006
# 190 Saint Vincent and the Grenadines: 1,570 bbl/day 2006
# 191 Lesotho: 1,400 bbl/day 2006
# 192 Chad: 1,352 bbl/day 2006
# 193 Solomon Islands: 1,320 bbl/day 2006
# 194 Bhutan: 1,250 bbl/day 2006
# 195 Samoa: 1,130 bbl/day 2006
# 196 Nauru: 1,070 bbl/day 2006
# 197 Saint Kitts and Nevis: 950 bbl/day 2006
# 198 Equatorial Guinea: 918.3 bbl/day 2006
# 199 Tonga: 870 bbl/day 2006
# 200 Dominica: 850.5 bbl/day 2006
# 201 Comoros: 712.3 bbl/day 2006
= 202 Vanuatu: 660 bbl/day 2006
= 202 São Tomé and Príncipe: 660 bbl/day 2006
# 204 British Virgin Islands: 650 bbl/day 2006
# 205 Saint Pierre and Miquelon: 560 bbl/day 2006
# 206 Montserrat: 505.5 bbl/day 2006
# 207 Cook Islands: 463.7 bbl/day 2006
# 208 Montenegro: 450 bbl/day 2004
# 209 Falkland Islands (Islas Malvinas): 252.3 bbl/day 2006
# 210 Kiribati: 232.4 bbl/day 2006
# 211 Turks and Caicos Islands: 80 bbl/day 2006
# 212 Saint Helena: 60 bbl/day 2006

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