You Better Sit Down For This

This is an interesting story that I had forwarded to my email account about the a huge amount of natural crude oil discovered in the Western United States in 2005. Why aren't we tapping into this untouched gold mine yet to take some stress off of the tax payers pockets?... Well That's exactly why I'm posting this.



[edit on 6-4-2010 by Socristotle]

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 ..... 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.'
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. And if THAT didn't throw you on the floor,
then this next one should - because it's from 2006!

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 blocked all efforts to
help America become independent of foreign oil! Again, we are letting a
s mall 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? (no kidding!)
And let's not forget about OPEC'S pay-offs to politicians...

[edit on 6-4-2010 by Socristotle]

Originally posted by Socristotle


This is an interesting story that I had forwarded to my email account about the a huge amount of natural crude oil discovered in the Western United States in 2005. Why aren't we tapping into this untouched gold mine yet to take some stress off of the tax payers pockets?... Well That's exactly why I'm posting this.

www.usgs.gov
(visit the link for the full news article)

My theory on this is that the US will use up the oil resources around the world, saving the US oil for last. At that point, we can charge out the wazoo for it; thus, returning the US the economic super power status.

Never use your own resources when you can get them somewhere else. Reserves are crucial for our longevity...and some day the US will literally "make the world go around"...what will the middle east be selling? Sand?

reply to post by Aggie Man


Aggie Man I agree. We have it, and we are holding it very close to our vests.

Domestic oil wont need weapons to secure - So lets just leave the oil there. Weaponry means profits for bankers, not the oil itself.

Be worry because of Miltary Industrial Complex - not because of resources, those we do have for thousands of years to come.

But good post. Thanks.

A co-worker and I discussed this one day. We came up with the idea that the West is trying to rid the Middle East of all their oil first. This would take the power out of their hands and would make the West powerful on both the financial sector and the military sector (we believe).

I do not know if this is true, but to me it makes perfectly good sense!

reply to post by Aggie Man


wow, you sure are giving the brain dead in Washington a lot of credit. I don't think they would think that far into the future if they could. There has to be some underlying reason the middle east is so important. At this point, I find it hard to believe it's just Oil, although that does make the most sense. Figure out why Israel is such a key component to our long term survival, and I think you will find the answer.

That is correct Aggie. Having enough development to sustain safety is necessary. But the best place to store your petroleum is.....in the ground.

However, unconventional plays in the USA (and Canada) are being developed.

In the comparison of the Middle East petroleum reserves to North America or Russia reserves, the differences are not well understood. I admit to paltry understanding myself.

M.E. is pretty much all proved reserves. Russia, and North America (and China for that matter) have quite a lot of unproven reserves. Reserves in unconventional geography. Greater technological challenges for development.

These resources are being developed, and considering the current political climate that is necessary.

And while you hear quite a bit about "crude" oil, I believe that you will end up seeing more gas development.

They call most US oil "Strategic" oil reserves for a reason.

While the US might not think that far ahead in normal terms, they certainly do think ahead (domestically) in military terms. Should Oil run out, or even come close, war is the vehicle that will be used to acquire what is needed by those who need it.

If we have it, we retain all our global power and then some. All will need to bow to our whims just to buy it, and at any price we feel like setting.

This strategic power seems, to me, to be the reason removing ourselves from dependence on oil has been stymied in the first place.

If we pushed, we could be off oil entirely in 50 years max, but we don't want to because America doesn't want to.

reply to post by Socristotle


This is old news. They also didn't mention the 300 billion barrels of oil trapped in the tar flats in Canada. Our continent has the second largest reserve of oil next to Antarctica (that is a theory). We purposely keep our oil to ourselves and release small amounts from our other drilling operations to supplement what we buy from foreign countries. When they run out, the U.S. will be left with the largest oil reserves and will literally control the global economy. This has been planned out since the 1980's. While the oil fields have only been found recently, they have been theorized to exist since the 70's and their presumptions from back then are proving accurate.

However, this is all moot to the REAL story that we can MAKE oil effectively and fairly cheaply as well.

Abiotic Oil

Once we find an effictive way to create oil and NG (natural gas) synthetically on a mass scale then drilling for oil will become obsolete. We will never run out of oil, those in control of the supply want to make as much as they can before the price of oil plummets, and they know it will within the next 75 - 100 years. Though I'm sure the big oil companies will convert and start "making" oil well before that.

Middle East geography is pretty homogeonous - compared to the other regions of interest here. That makes development less challenging.

However, they don't provide much in the way of their OWN development of that resource and they don't provide any security politically, locally, in transit, production, .....or anything else of that matter.

They are coasting. I encourage you to continue to let them coast. Laziness coupled with entitlement is the beast that will eventually break their back.

Originally posted by network dude
reply to post by Aggie Man

 

wow, you sure are giving the brain dead in Washington a lot of credit. I don't think they would think that far into the future if they could. There has to be some underlying reason the middle east is so important. At this point, I find it hard to believe it's just Oil, although that does make the most sense. Figure out why Israel is such a key component to our long term survival, and I think you will find the answer.

Yep...Aggie Man and others have already nailed it.

Oil is power...we have it...and we are just waiting until the rest of the world needs it from US. Why tap it now and put it on the current market...it will just drive all oil prices down...it won't help our national economy at all. Sure..it MAY reduce the prices at the pump...by what...a dollar a gallon???

It all makes sense doesn't it...don't people complain that the government is spending money and going into debt and there is NO WAY to get out of it??? Well...yes there is. Once the mideast oil fields dry up and their wealth is gone...and we are helping doing that by being at war over there...then the United States will be the main supplier of oil for the world.

People also don't understand why the United states government would oppress "free energy" or "alternative energy" sources...well if they are sitting on a gold mine of oil...it all starts to make sense...doesn't it???


It's a chess match...and we are currently in the "wait and see" mode. But with the spending the government is doing and the money we owe to China...and the government really not being in a big panic over it...the time for our move must be moving close.

I think if Bush could of done it...he would of to try to save his image as the one who turned the US into the world's oil supplier...but it just wasn't time. I don't think Obama will do it this term...but if he gets a second term he may...because he could get the support of the "enviromentalist" to go along with it...no republican president would get that support.

Becuase when ever one else runs out the U.S. will control the world with whats left and why use ours when we can suck the world dry and know we have hundreds of years of oil for our reserves.

seems pretty smart to me, but it could also lead to war.

Same thing here in Oz.

My mentor, now in her late 80's, spoke to me many years ago about her father and his work for British Petroleum in Australia. He would find oil deposits, work out the capacity/flow rate in barrels, then cap them. He then recorded all of his findings on his maps with coloured pins.

When my mentor was about 12 years old he showed her his maps and told her that there was enough good quality oil here for over 500 years.

I often wonder why we have not started to use these reserve deposits, although I am against taking it out of the ground to begin with as I think we needed to be bringing alternative fuels/power sources into play over the past 20 or 30 years instead of maintaining our reliance on Oil.

I also do not understand that if Australia is self-sufficient in oil, why do we play the OPEC game and become a member only to export small amounts and import large amounts at much higher prices.

Having a friend who had done research on fuel pricing over ten years ago I learned that from one barrel of refined oil only 2% goes to fuel, about 15% is used in the production of make-up and creams for women, and a very large percentage goes to industry to manufacture plastics. So I am left to wonder why does Fuel cost so much when in that timeframe it cost 10 cents per litre by the time it leaves the local refinery?

Thanks to the OP for bringing this subject up and allowing me to share these small gems with you.

[edit on 6-4-2010 by Tayesin]

Originally posted by slipknotrules2009
Becuase when ever one else runs out the U.S. will control the world with whats left and why use ours when we can suck the world dry and know we have hundreds of years of oil for our reserves.

seems pretty smart to me, but it could also lead to war.

Could?

I think you may be expressing unnecessary caution in that assessment.

reply to post by Socristotle



Thumbs up. Interesting info you have for us.

Hmmm. It may very well explain US foreign policy and the need to conquer middle east. Looks like everything's being planned.

Is this that oil shale stuff? I am getting pretty tired of hearing about that stuff. It is beyond naive to even consider that stuff usable at this point. The last I heard, that was all that they found that way, just useless, useless oil shale.

they already sold it to the chinese

anyway.....

anybody notice the date on the stansberry report?

Very interesting read. I do wonder how much of this oil is on Ted Turners land? It does make sense to deplete the middle east of its oil reserves and step in to the rescue for a minimal fee. The thing is they are going to have to act quick at least for America. The environmental agenda is going through over here and it won't be stopped. It is slow moving but oil will end up being replaced sooner or later. My guess is our oil will be bought by the poor third world countries that lack the infrastructure and education to go "green". Of course we have plenty of alternative energies but they are being fought down day and night by these oil companies.