What do you think about this? Think its true?
03-07-2011, 02:21 PM
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What do you think about this? Think its true?
Got this in an email from a friend earlier.
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 toas 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 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? Now, while you're thinking about it, do this:
Pass this along. If you don't take a little time to do this, then you should stifle yourself the next time you complain about gas prices - by doing NOTHING, you forfeit your right to complain.
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 toas 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 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? Now, while you're thinking about it, do this:
Pass this along. If you don't take a little time to do this, then you should stifle yourself the next time you complain about gas prices - by doing NOTHING, you forfeit your right to complain.
03-07-2011, 02:34 PM
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oh sh*t... doesn't Ted Turner own most of Montana and the Dakotas? I guess he'll get even more money when he sells it back to the guvment that sold it to him. 
http://www.snopes.com/politics/gasoline/bakken.asp
"It is vaguely true in the sense that geologists have estimated there is a good deal of undiscovered, technically recoverable oil in that area, and as the price of crude oil increases and the technology for extracting resources from formations like Bakken improves, that area becomes more and more economically viable as a source of oil for the U.S. However, the estimate of over 500 billion barrels of oil to be recovered from the Bakken formation is an overly optimistic one based on incomplete, outdated information. "
North Dakota and Montana have an estimated 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in an area known as the Bakken Formation.
A U.S. Geological Survey assessment, released April 10, shows a 25-fold increase in the amount of oil that can be recovered compared to the agency's 1995 estimate of 151 million barrels of oil.
New geologic models applied to the Bakken Formation, advances in drilling and production technologies, and recent oil discoveries have resulted in these substantially larger technically recoverable oil volumes. About 105 million barrels of oil were produced from the Bakken Formation by the end of 2007.
The USGS estimate of 3.0 to 4.3 billion barrels of technically recoverable oil has a mean value of 3.65 billion barrels. Scientists conducted detailed studies in stratigraphy and structural geology and the modeling of petroleum geochemistry. They also combined their findings with historical exploration and production analyses to determine the undiscovered, technically recoverable oil estimates.
Certainly 3.65 billion barrels of recoverable oil is nothing to sneeze at, but a little perspective is in order. The U.S. currently imports an average of about 10 million barrels of oil per day (for a total of about 3.65 billion barrels of oil per year), so even if all the estimated undiscovered oil in the Bakken formation were extracted today, it would only be enough to wean the U.S. off of crude oil imports for one year. That's still a good thing, but it's not nearly "enough crude to fully fuel the American economy for 41 years straight" as claimed above.
http://www.snopes.com/politics/gasoline/bakken.asp
"It is vaguely true in the sense that geologists have estimated there is a good deal of undiscovered, technically recoverable oil in that area, and as the price of crude oil increases and the technology for extracting resources from formations like Bakken improves, that area becomes more and more economically viable as a source of oil for the U.S. However, the estimate of over 500 billion barrels of oil to be recovered from the Bakken formation is an overly optimistic one based on incomplete, outdated information. "
North Dakota and Montana have an estimated 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in an area known as the Bakken Formation.
A U.S. Geological Survey assessment, released April 10, shows a 25-fold increase in the amount of oil that can be recovered compared to the agency's 1995 estimate of 151 million barrels of oil.
New geologic models applied to the Bakken Formation, advances in drilling and production technologies, and recent oil discoveries have resulted in these substantially larger technically recoverable oil volumes. About 105 million barrels of oil were produced from the Bakken Formation by the end of 2007.
The USGS estimate of 3.0 to 4.3 billion barrels of technically recoverable oil has a mean value of 3.65 billion barrels. Scientists conducted detailed studies in stratigraphy and structural geology and the modeling of petroleum geochemistry. They also combined their findings with historical exploration and production analyses to determine the undiscovered, technically recoverable oil estimates.
Certainly 3.65 billion barrels of recoverable oil is nothing to sneeze at, but a little perspective is in order. The U.S. currently imports an average of about 10 million barrels of oil per day (for a total of about 3.65 billion barrels of oil per year), so even if all the estimated undiscovered oil in the Bakken formation were extracted today, it would only be enough to wean the U.S. off of crude oil imports for one year. That's still a good thing, but it's not nearly "enough crude to fully fuel the American economy for 41 years straight" as claimed above.
03-07-2011, 03:13 PM
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Isn't the Rocky's oilfield composed totally of shale type? There's plenty of shale oil in the US but we still haven't the technology to make it functional. Now mind you in the first part of the century the govn't was asked for funding for research this with a proposed completion date of 2014, but that's history sadly.
And if prices are the problem, remember the massive gas spike (/shortage/whatever you want to call it) from a few years ago. Few realize this, but that was mostly based on the new Democrat majority lifting regulations placed on how much oil speculators can encourage the prices of oil. A regulation placed there by the Dems over a decade prior. Oh yeah, you can google that mess. Granted I am a big believer that government should keep their grubby mits out of Wall St's business, but when it borks the economy the way it did that's a nonsense. Plus the cost of gas was a big debate during the election.
And if prices are the problem, remember the massive gas spike (/shortage/whatever you want to call it) from a few years ago. Few realize this, but that was mostly based on the new Democrat majority lifting regulations placed on how much oil speculators can encourage the prices of oil. A regulation placed there by the Dems over a decade prior. Oh yeah, you can google that mess. Granted I am a big believer that government should keep their grubby mits out of Wall St's business, but when it borks the economy the way it did that's a nonsense. Plus the cost of gas was a big debate during the election.
03-07-2011, 09:53 PM
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well, being that im actually in ND i guess i have a pretty good understanding of the situation
that being said
we have probably 15 different BIG heavy hitter energy companies here now
key, halliburton, nabors, etc
TONS of jobs and daily i see at least 15 tankers
your email is actually circa 2008 or so, it is a MAJOR seem but i think it was blown out of proportion
that being said
we have probably 15 different BIG heavy hitter energy companies here now
key, halliburton, nabors, etc
TONS of jobs and daily i see at least 15 tankers
your email is actually circa 2008 or so, it is a MAJOR seem but i think it was blown out of proportion