US Sitting On Largest Oil Supply Ever???

[Rokkaholik]

I found this quite interesting... Not sure if this has been posted here before. If so, I apologize...

 

Check this link

 

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

 

 

 

This is the e-mail I got with that link

 

 

 

Here's an interesting read: and some important and verifiable information :

 

About 6 months ago, the writer was watching a news program on oil and one of the Forbes brothers 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 (which had not 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. 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 the information is 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 'mother lode' 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.

 

Do ya' 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

[kingdingeling]

If that is supposed to be true, why has nobody increased the amount of oil being drilled from there? I mean it'd be great, not only for the US, but for the whole world (as obviously they would export), but on the case of oil, I tend to believe it when I see it!

Edited January 13, 2010 by kingdingeling

[SenitaL]

but on the case of oil, I tend to believe it when I see it!

 

Gulf war anyone?

Edited January 13, 2010 by SenitaL

[MandoPatriot]

If that is supposed to be true, why has nobody increased the amount of oil being drilled from there? I mean it'd be great, not only for the US, but for the whole world (as obviously they would export), but on the case of oil, I tend to believe it when I see it!

 

You seem like the type of person that believes everything the government tells you.

 

But I can kind of see a reason to withhold, if that is indeed what they are doing.. If we don't have to worry about oil, we won't concentrate on advancing cars and other types of energy. So tapping that oil can be negative as well as positive...

 

But, on the other hand, tapping that oil will set us up for a LONG time. Within that time, we should most definitely find another source of power that is renewable and not harmful to anything.

 

My opinion... We need to get that oil moving!

[wildman2]

That oil is trapped in non porous rock.Wells need to be drilled horizontally. Then water or sand pumped into it to fracture the rock to make it more porous.That area already produces 195 million barrels of oil a yr,up from 165 million barrels.Good read I might add.All info from the U.S.G.S. site.

[Krieg1337]

America really gives me headache sometimes. They have so much fuel on their country, yet they don't want to drill there. What is going on, America still owes other countries so much money are the leaders here just plain retarded? This could probably help get out of debt, but of course we don't want that <_<

[dr_bowtie]

Doesnt surprise me at all....

 

We the people are greedy....he who has control of the oil has control of almost all the money...hence the greed....you have control you also have control of the price through regulation....

 

and we are a nation of greedy bastards.....

[MandoPatriot]

America really gives me headache sometimes. They have so much fuel on their country, yet they don't want to drill there. What is going on, America still owes other countries so much money are the leaders here just plain retarded? This could probably help get out of debt, but of course we don't want that <_<

 

Funny you should say that, because it is actually other countries that owe US money. What we do is borrow from our own money, which isn't there at the moment.

[Munkypoo7]

I'd keep it for reserves so when the zombie apocalypse comes we can still drive buses and Hummers with passengers shooting!

[kingdingeling]

You seem like the type of person that believes everything the government tells you.

You what now? As far as I read my earlier post, I don't buy the information in that article, which is clearly a government website?

[Compxpert]

You what now? As far as I read my earlier post, I don't buy the information in that article, which is clearly a government website?

Yeah man I agree when I see prices drop then I'll know it to be true but as of right now gas is still going up in price where I live and getting close to $3.00/gal again.... Hopefully it drops off again.

[Kash]

I remember reading about this a while back. I believe the problem is that it's shale oil and not the kind of oil just sitting in pools like in the Middle East (which is much easier to pump out). The last article I read said something about the high costs of shale oil meant that the price of oil had to be over $35 a barrel in order for it to be profitable. Clearly that article was written a while back given how much a barrel of oil is going for nowadays.

 

I think what we should be doing is developing shale oil extraction technologies but hold back on any major extraction. If it truly is the world's largest reserve (which seems a bit unlikely since Russia is sitting on huge untapped resources of practically every kind, of which only a fraction has been surveyed), then it looks as though the US will have a huge bargaining chip in the decades to come. We simply have to wait until the oil runs out in the Middle East and then the entire world will be looking to the US for its energy needs.

 

If we drill now, the only benefit is lower gas prices for US consumers; if you adjust for inflation, we're essentially paying the same price for gas now as we were a few decades ago, it was the oil glut from the 80s and 90s that spoiled us with sub $1.00 gas. So we're really not paying more than we should be for gas as of right now and flooding the market with local oil is going to result in the same thing: artificially low gas prices for a little while and then they'll skyrocket again, sending huge reverberations through the economy. I dunno about you, but I'm getting sick of these bubbles that keep screwing with the economy every few years. We need stability, and drilling right now is a bad idea.