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OIL - you better sit down... Here's an interesting read, important and verifiable information: About 6 months ago, the writer was watching a news program on oil and one of the Forbes Bros. was the guest. 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 2008 that only scientists and oil men knew was coming, but man was it big. It was a revised report (hadn't been updated since 1995) on how much oil was in this area of the western 2/3 of North Dakota, western South Dakota , and extreme eastern Montana.
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. That's enough crude to fully fuel the American economy for 2041 years straight. "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.' 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! And if THAT didn't throw you on the floor, then this next one should - because it's from 2006, and the research used more up to date methods of estimating underground reserves than the pevious post.
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. Because the environmentalists and others have blocked all 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 yet?
Originally posted by Asktheanimals
It hasn't been the environmentalists stopping us from tapping all that oil, it's been the oil companies and the US government.
Oil has been the world's reserve currency but traded through US dollars (petrodollars).
Someone is playing a strategic game with oil to destabilize foreign nations and strengthen our own position.
This does not mean that the PTB have any intention of letting Americans share in the rewards.
They intend to crash the US dollar so that they can garner even more wealth and power.
There is simply no other rational explanation.
This is the grand chessboard where plans are made for decades ahead and the US public are expendable pawns.
There will be cheap oil to be had, cheap for them to produce and then to sell to us at $200+ per barrel once our "peak oil crises" has reached full bloom.
Their greed knows no bounds and they're going to take all of us down, they don't care.
They can always sell it to China after they've busted us and the US dollar.
Can you say sneaky?
I knew that you could.
FZ for Prez!!
God I miss that man.
Originally posted by TheWalkingFox
reply to post by zappafan1
I found this silly chain email in my workplace, attached to a USGS survey that it claimed to source (for some reason, the source is now the Energy Information Administration.) The chain Email you posted here claims trillions; the USGS claimed somewhere around a billion. Still not a small number, but substantially smaller than multiple trillions.
That's "if" the stuff is recoverable. Pretty big if. And that's even if the survey is accurate - it's probably not. Numbers are always inflated by oil surveyors. it's a form of speculation. You never know how much is there until you tap into it, and even then you can only make a rough guess.
Further, as other posters have pointed out, this oil, if it exists and if it can be tapped, will go into private companies, who will then sell it on the global market, at rates they choose. It will do jack-all for the US; especially without the refineries to process it, which each take several years to build.
Is it there? I dunno. Might be. No way to tell, really. hell, YOU might be sitting on trillions of barrels of oil. You'll never know. Unless you want to sell your property to an oil company who will take a sample, find nothing, and then just keep your property anyway (didn't you know? They're the prime collectors of real estate in the US, and sell the land at a high premium)
By the by, being aware of the costs of oil and the need for alternatives doesn't make one a luddite. Might I suggest learning the definitions of the words you use?edit on 11/3/2011 by TheWalkingFox because: (no reason given)
Originally posted by facelift
reply to post by zappafan1
Old news is good news... except for the Luddites (environmentalists),
Luddites opposed machinery and technology that would take away from their opportunity make a living through labor...
Other than that, I'd say start drillin' fools!..!