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Domestic Oil

MAYO

MAYO

Bad Mother
Sep 27, 2010
2,120
610
#1
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," reportsThe 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.



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



USGS Release: 3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation—25 Times More Than 1995 Estimate— (4/10/2008 2:25:36 PM)
 
Lizard King

Lizard King

Administrator
Staff Member
Sep 9, 2010
11,471
3,263
#3
Isn't this that sand oil like the Canadians are extracting already?
 
irish_2003

irish_2003

MuscleHead
Dec 12, 2010
308
47
#5
I thought we were still under a "no drill" policy with Obama since the BP disaster?
the ban is on "offshore" drilling....it doesn't affect land drilling or shale oil.....what will kill the price to us is building the processing facilities and adding more refineries to compensate for our increased use since the 1970's.....we need more refineries but the EPA and treehugger agencies won't allow it
 
marx

marx

MuscleHead
Sep 29, 2010
4,671
625
#6
the ban is on "offshore" drilling....it doesn't affect land drilling or shale oil.....what will kill the price to us is building the processing facilities and adding more refineries to compensate for our increased use since the 1970's.....we need more refineries but the EPA and treehugger agencies won't allow it
That is how it is portrayed to us but actually they have a higher profit rate with less refineries, and don't want to put the big money into building new refineries...
 
Ms.Wetback

Ms.Wetback

VIP Lady Member
Sep 27, 2010
1,599
118
#8
We re waiting for everyone else to run out.................use everyone else's and then tap our own !
 
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