Oil Discovery??

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Not real sure if this has been posted before, but got this in an email from a friend in the oil business. If this is all true, we should go get it as for as I'm concerned.

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:

http://bakkenshale.net/bakkenshalemap.html


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 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.

--------

Now I just wonder what would happen in this country if every one of you
sent this to every one in your address book.

By the way...this is all true. Check it out at the link below!!!

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

http://www.usgs.gov/newsroom/article.asp?ID=1911
 
Yea so lets keep buying high price oil.
smirk2.gif
 
US Govt wants us to burn burn burn all the middle east oil and then they can come to us looking for oil.
 
Yah I don't get it all. I remember when they found the oil in the Dakotas area. I just don't get why we buy expensive oil from other countries that don't like us. It has to be politics.
 
You have to be careful on how you read how much oil we have. Yes we the US have more oil, and usable oil within our borders not counting Alaska than almost everywhere else in the world combined !! We also have the resources such as deep shore drilling rigs etc to obtain it, however when extracting at such a depth the cost does go up, also some of our cruse is not the sweet light crude we have become addicted to.

One important thing not told when such information is spread via emails is the oil shale they sometimes calculate in with our oils, this gives a false presumption to say the least. I have researched it out some, washed documentaries on it etc, and know little about it..what I do know is the propaganda people can be like Hitler as for or against the oil or how much we have when it comes to spreading the information. Middle Eastern wells are in operation, we know the quality of the crude, it's the kind of crude we use, and we can get the very most out of when we convert it to end use. When this reserve is used up, they dirtier, harder to get to reserves will be used, when all that's used up!!

We the US will have the last oil reserves in operation if everything stays the same. As much research as I have done don't think for one moment that anyone much lest a pesky environmentalist will stand in the way of us drilling for our own oil. If oil is truly a resource that is non replaceable it's a perfect idea to use everyone else before we use our own, however I guess the downside to that is a war on our own soil may be involved with the luxury of huge vast amounts of oil.

I went off on a wild tail rant, listen to both sides of the propaganda of the dooms day dwindling oil reserves to the jolly green giant of oil wells, and reserves we have, meet in the middle is what I assume we have.
 
Originally Posted By: Bluestream
Why not just use natural gas? There's an over-supply of it and its cheap and clean


Cheap, and Natural gas does not go hand in hand in my part of the country when winter time comes. Natural Gas, and LP are close to the same in price here all the time, NG does get cheaper in the summer, LP does to an extent, however it follows gas at the pump close. NG can skyrocket to huge amounts, I have heard people complaining of $700 bills for ONE months usage, and this was a hundred or so complaining of the price spikes I did pick the highest one however the $700 bill when his normal bill was around $150- $200.

I think I could heat my house with pump gas during the winter if there was a way cheaper than any other method.
 
Originally Posted By: rclint
Originally Posted By: Bluestream
Why not just use natural gas? There's an over-supply of it and its cheap and clean


Cheap, and Natural gas does not go hand in hand in my part of the country when winter time comes. Natural Gas, and LP are close to the same in price here all the time, NG does get cheaper in the summer, LP does to an extent, however it follows gas at the pump close. NG can skyrocket to huge amounts, I have heard people complaining of $700 bills for ONE months usage, and this was a hundred or so complaining of the price spikes I did pick the highest one however the $700 bill when his normal bill was around $150- $200.

I think I could heat my house with pump gas during the winter if there was a way cheaper than any other method.

I agree, NG is far from cheap,my bills were crazy this winter here in Michigan!
 
"Investors might be wise to note that about 25% of the Bakken Formation lies in Canada, and there are relatively few rigs there compared to our side of the border.... "

Investors should really be aware that the "500 Billion Barrels of recoverable oil" claims come from known Stock hyping sites, hoping to inflate the price of near penny stocks so that they can do a "pump and dump"

They ignore or lie about USGS and other industry reports, ignore the fact that Marathon oil and others have been drilling into it for 50 years, etc. without yet having found Saudi Arabia size oil fields.

Of course Rush Limbaugh helped the hypers by using their claims
to thrash liberals, who supposedly oppose wasting oil in SUV's.
Even those this scam was widely exposed, I have yet to hear a retraction from him.

For those who are challenged by math, there is a difference between 500 billion, 5 billion and 500 million.
One may notice that the pump and dump stock selling scams quote from supposedly accurate sources but are careless about adding lots of zero's. BUY STOCK IN THESE COMPANIES NOW!!!!


The above posting is still valid. The Bakken formation may eventually yield 4 billion barrels, not 500 billion. Marathon oil has been drilling into it for 50 years, there are no secret finds.

Read the USGS reports yourself, do not rely on scamsters -and talk radio hosts with an agenda- for information on an issue this important!!

Seriously, it is a difficult and very limited resource, yes we are drilling hard to extract what we can.
 
Dont forget the fed gets a PERCENTAGE of the price from end users in tax,they would gain nothing to tap this new resource if the price went down to 15-20$ a barrel.
 
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Talk about a way to kick start the economy, do you know how much things would change if gasoline was even $2 a gallon or less. Everyone would start travelling, spending money and buying cars again not to mention the jobs being created to move the oil "inside" the United States. This high price of gas is killing the economy, its what gave me the mindset, that I dont care how many animals or terain we upset, get the oil. Too many people think evrything comes from somewhere else and doesnt want to disturb the enviroment.
 
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