Oil ??

[ATOZ]

Here's an interesting read that I received today!! Anybody else heard about this??




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 WillistonBasin , 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 for 2041 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 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.

  Check it out at the link below!!!


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

 

[chambero]

There is a whole lot of oil there and throughout the U.S., but a lot of the claims in the above article are exagerated or just flat wrong.  See the link below for official answers to some of the remarks made in that message.

http://www.usgs.gov/faq/Subject.asp?category_id=94

Until the past year, for several years U.S. oil/gas companies were drilling as fast they could.  There was a huge backlog of work for drilling rigs.  None of the drilling rigs in this country were idle and they couldn't make them fast enough.  The economic slow down curtailed a lot of drilling this year, but it is starting to pick back up again.

There are lots and lots of oil and gas deposits throughout the U.S. that haven't been developed yet.  Many are very difficult to extract (like the Bakken) and therefore too expensive to put a lot of time and money into it until prices are higher in the future.

The U.S. has an intentional policy (and rightly so in my opinion) to use oil up elsewhere in the world while its cheap.  As oil supplies truly diminish at some point in the future, that's when we'll dive in and start maximiizing the use of our own reserves in this country.  At that time, ANWR and everywhere else will get drilled.

 

[knabe]

The U.S. has an intentional policy (and rightly so in my opinion) to use oil up elsewhere in the world while its cheap. 

ditto.

 

[hart]

I question if its really policy or nimby.
All and all it would be a policy worth concidering.  (the last cookie is always the best and worth the most...).
But I really think its enviromentalnazi law makers paired with others scared of how a 15 sec add could make them look like a 'far rightwinger' who wants to pave the world over in the name of progress.

 

[chambero]

I'm in the environmental business and help clients deal with these kinds of issues.

The "Not In My Backyard" thing has nothing to do with environmental policy.  People want everything done somewhere else besides close to them.  You'll almost never hear of NIMBY-related protests over oil production because significant oil or gas leases make lots of instant millionaires without losing your land.  Reservoirs, highways, and things like that get protested because the $$$ paid to landowners aren't nearly as big.  Private landowners will cite things like "the land has been my family forever" or they are concerned about the environment, but its all about the money.

The list of projects truly killed because of environmental issues is a very, very short one.  In fact, I don't know of a single project that was flat-out stopped stopped because of environmental issues that didn't have some other "common sense" flaw. 

The primary debate on drilling in the Arctic National Wildlife Refuge is environmental, but those concerns will be addressed and disappear when the time is right.

Environmental isn't a big deal in the grand scheme of things in the Dakotas or eastern Montana.  Not enough people care about prairies.  The ag folks in that part of the world want the drilling because of the lease and royalty money.

Water may be the big limiting factor on large-scale drilling up there.  Those types of formations require hydraulic fracturing to get the oil or gas out.  Takes huge quantities of water and not sure if they have it.

The company I work for does a lot of permitting and coordination for the similar type of drilling and frac'ingthat goes on down here in Texas in the Barnett Shale.  It takes a whole lot of water that is even hard to find enough of in some spots here.

 

[hart]

I kinda had a bigger picture in mind with the nimb...
More like the biden "they can build them (coal plants) over there but not here" (cuz its a 'warming issue' and we all know that if the theory is true than it would only get hot in china...wait, hmm thats just not true either...joe is just a funny man)
folks are against things they see as evil.  drilling and all that goes with it is rite up there at the top of the list.
and they surely do not want it to happen anymore in the states.  hints the nimb comment.
people are kinda radical like, i just had a guy from Iowa telling me how the farmers are destorying the enviroment...