Anyone heard of this?
Everyday I get a box full of email forwards, just wondered if this one is old news or what:
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 for2041 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. 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 entir e 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?
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.
It's a mechanical device, designed by humans, built by humans and operated by humans. What could possibly go wrong?
Nope, not new at all.
Our government won't permit us to access our reserves, but Canada is tapping theirs.
Not really that simple. It is not like drilling a hole and oil comes out. I looked up a page that shows the process needed to get the oil and gas out (hydraulic-fracturing).
It is water intensive and there are environmental issues. The amount recoverable is nowhere near what the hype suggests. If it were as cheap and easy as they say the oil companies would be there, especially at $150 a barrel. But the technology is getting better at getting it out.
As oil prices rise, extracting the difficult oil becomes economically feasible.
The estimates of that original email were highly inflated. It was intended for potential investors....lol
Anyhow...we do have a lot of oil in the US that is not at this time economically feasible to get to because we lack the technology to get at it.
Shale oil...I think there is quite an abundance of it in the US and Canada.
uh oh.....battery is running low....
There are a couple of measurements that determine how hard it is to get the oil out of the shale. Basically it comes down to the porosity in the rock, fissures that allow the oil to flow out, and not sure of the other term but it refers to how well the oil can seep through the rock. There may be a lot of oil down there but it is trapped in the rock.
O-o-h, the irony...
Originally Posted by corny