Oil in the Western US?

Griswald

Charter Member
Is this for real?

GOOGLE it or follow this link. It will blow your mind


http://www.usgs.gov/newsroom/article.asp?ID=1911

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 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 is more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction.

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!

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.

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.
 
They are working real hard to figure an efficient way to get at shale oil. A method where they send a heater down and then flood the hole with water to push the oil to the surface works well, but is not efficient or cost effective at this point. In those areas the water needed would also create problems.
 
With crude at $40 a barrel, shale oil is finacially unattrctive to pursue. With oil at $140 a barrel, there's little incentive for oil producers to want to increase supply and allow prices to drop.
 
With crude at $40 a barrel, shale oil is finacially unattrctive to pursue. With oil at $140 a barrel, there's little incentive for oil producers to want to increase supply and allow prices to drop.

Yup, oil need to be at least $70 or so to be worth drilling for. Needs to be much higher to justify trying new methods.
 
What this really needs isn't price pressures, it's going to take supply pressures. For the free marketplace to actually address this issue, it's going to take some serious pain on behalf of the American people. And then, we're at a minimum of 5 years between the time that the pain becomes available and the supplies arrive to relieve that pain. 10 is more realistic. There are way too may Luddite liberal tree-huggers willing to see us back in the 17th century before we disturb a piece of ground that 11 humans a year lay eyes upon.

I hate to say it but I'm beginning to believe it- the only way a real energy revolution will occur is with some sort of government intervention. And even then, the possibility of getting it right is unlikely. It will someday take a catastrophic event to trigger some national-emergency level event that unleashes an effort that fast-tracks past all the typical political hurdles.
 
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