U. S. Oil Discovery- Largest Reserve in the World
Thursday, February 4, 2010 at 12:04PM Receive this via email... I guess it is on it's way to being viral. I have heard of an oil reserve that is located on the Alaskan North Slope and in private ownership but needs Federal Approval because it is surrounded by Federal Reservation land so it is inaccessable without the Federal permission. No one will say what the total of that reserve is just that is is huge.
This sounds like it is right here in the lower 48... Interesting read anyways. Perhaps it is the same as above just needs side drilling...
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OIL - you better sit down.
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:
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 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
http://www.usgs.gov/newsroom/article.asp?ID=1911
Reader Comments (17)
What is it with you people and energy?Do you really believe green is the only way to go?
You won't let us drill.You won't let us go nuclear.(I would love to see the Repubs call Bambi on this,introduce legislation to streamline the permit and building process)You seem to think we can grow enough crops(bio-fuels)to sustain the American appetite for energy.
Why we put up with you petulant little children and your idiotic ideas about energy is beyond me.I am sick and tired of you fools running around screaming about global warming and the damage it is doing to the planet.If you really believed half of the crap you put out there you would never drive anything but a bicycle.But we know its a fraud.The people who scream the loudest are the worst polluters on the planet(hello Hollywood,AlGore)not to mention all the Dems who are STILL driving thier SUVs.But,you know,the planet is gonna melt in 30 years so EVERYONE ELSE needs to sacrifice ,right?
Three things:
You don't know a damn thing about what I believe when it comes to energy. Any thoughts you have on the subject are projections of your hatred of people who are smarter than you. Sorry to be blunt, but there it is.
The claim of 500 billion barrels of oil in the Bakken field is from a stock tout sheet. A tout sheet is an exaggerated claim about the value of a company, and therefore its stock, sent out by scamsters to hype up the value of a stock so they can sell it at a profit. One can tell this by the breathless language used. What makes this even more ridiculous is the USGS link in the post (http://www.usgs.gov/newsroom/article.asp?ID=1911) that was added to lend credibility drectly contradicts the post, saying that there are about 4 billion barrels recoverable, not 500 billion. Pretty amateurish.
You mentioned googling Bakken fields. I googled the letter itself and the first 3 links were Snopes, Fact check, and RumorMillsNews. That ought to tell you something.
I assume the owner of NH Insider is not part of the scam and didn't post this blog to encourage fools to invest in stocks involved in this oil field. He probably believes this is part of some government/liberal conspiracy to withold our oil from us. I noticed the teabag crowd showpieces this little piece of nonsense on their website, as part of the plan to delude the credulous.
Are you denying you people stand in the way of America producing her own energy?Are you telling me Democrats stand behind drilling everywhere and anywhere we find oil?
Do liberals even understand how important energy,CHEAP ENERGY,is to the well being of this country?It's what drives our economic engine.It effects the price of just about every single product in this country,yet we have a President who thinks the solution to our energy problems is making electricity in its current form so expensive that we have no choice but to turn to alternative energy.This is no speculation on my part.If you need to see it I am sure I can produce the video.Oh here it is,
http://pumabydesign001.wordpress.com/2009/06/30/obama-my-plan-makes-electricity-rates-skyrocket-obama-wants-to-change-our-lightbulbs/.
I'm sure you can come up with some excuse for this.And as far as the teabaggers go,I will check back here in November and see just how much you enjoyed being teabagged.
Here are a few things for you to think about.
No one stands in the way of us producing all the energy we need. Not even the Democrats. What stands in the way is geology. We don’t have anywhere close to enough oil in the US that is that is readily and economically accessible. The US uses about 21 million barrels of oil a day- roughly 7 1/2 billion barrels per year. Every day we import 13 million barrels of this oil- that’s almost 5 billion barrels of year. To put Bakken in context, all the drilling in that field since the 1950’s has produced less than 200 million barrels- 10 days worth of US consumption. This is not a conspiracy, but a function of the technical structure of the oil in the field.
The USGS estimates the Bakken field has about 4 billion in recoverable reserves. That’s less than one year of imports. What is “recoverable” is a moving target, based on the state of oil technology and the current price of oil. But nobody with any credibility believes that more than 5% of the oil is recoverable. That’s 20 billion barrels- a years supply- from the largest field in America.
You say that cheap oil drives our economy. If you were right we are screwed, because the days of cheap oil are over. To understand why, I suggest you learn about the concept of peak oil. Luckily, what drives our economy is ingenuity and creativity, not cheap oil.
You talk about ingenuity and creativity.Don't you think that applies to the oil industry and thier methods for extracting oil?The Bakken is only one possibility.We have ANWAR,which again,the lefties in this country have made it nearly impossible to drill there,despite the citizens of that state supprting it.
"No one stands in the way of us producing all the energy we need. Not even the Democrats."nonplussed
Republicans certainly don't escape blame here.Politically,they have been cowards.Hell,they started some of the restrictions.But for you to say that,well
http://www.washingtontimes.com/news/2009/feb/11/drilling-ban-revisited/
Not to mention the roadblocks put in the way of any new energy projects,even green ones.
As a matter of fact,the President talked about drilling,among other things,in his SOTU.I would be willing to bet a princely sum that nothing comes of it in regards to lifting any bans or drilling any where in the States.And the Republicans won't call him on it,unfortunately.
Anwar has about 10 billion barrels of recoverable oil. This would replace 2 years worth of imports if we got it all out in 2 years. But of course we wouldn't, for many reasons. Realisitc extraction estimates are about 800,000 barrels per day- or 6% of our annual imports. Please pause and think about that- Anwar if fully exploited could meet just 6% of our import needs. In fact, by the time it could be exploited, it wouldn't even be 6%.
I would really urge you to reflect on the size of these numbers, and try to understand why "Driil, baby, drill" may be a great slogan to fool dimmer voters, but as a practical solution it is meaningless.
"Realistic extraction estimates are about 800,000 barrels per day- or 6% of our annual imports."
Note well how NP uses the daily extraction estimate then bemoans the fact that it only is 6% of our annual imports! Get it! Viewed from another angle We will be able to extract 6% of our annual imports every day! EVERY DAY EVERY DAY!!!!!!
Boy the Global Warming Fanatics just won't concede that they have been DUPED!!! Now when will NASA release its data, why are they holding out ... have they been doing the duping as well as the IPCC??? No Doubt about it!
Work Hard Have Fun!
Bob DeMaura
I don't know that global warming was even discussed until you brought it up. But whatever, you are running this particular asylum, so you get to post whatever delusional nonsense strikes your fancy and that you believe supports your world view.
I particularly enjoy the tinfoil hat talk about how NASA is hiding evidence that will disprove global warming. Conspiracy! The last refuge of the whackadoodles. But be careful, old timer, if the CIA finds out you've figured out the scam they are likely to send the black helicopters after you.
And the resistance to drilling for oil isn't directly related to the GW Alarmists concern for the rising CO2 levels due to burning Fossil Fuels causing GW?
If we can get 6% of our oil supply from our own reserves why shouldn't we?
Wind is only predicted to provide less than 6% of our needs (and we don't know yet if it can without harming the environment- think dead bats) yet it seems to be one of the favorites for alternative energy crowd! Today's wind laugher is the wind farm in MN isn't producing any energy this past month because it is too cold! The turbines froze!
Why is one 6% better than the other 6%?
Name calling "Conspiracy! The last refuge of the whackadoodles." the last refuge of a weak debater! No ideas, No Answers, Attack the Messenger!
[Work Hard Have Fun!]
[Bob DeMaura]
sorry forgot to sign this entry!
2/10/10 04:40pm
Let's see,6% here,5% there,10% over there,now stick with me here,that adds up to 21%.It is the accumallation of ALL these discoveries that will put a dent in our foreign oil dependancy,yet you seem against all of it.You use the same argument for every new discovery,that it's only such and such %,ignoring the accumalation of those %'s.
Also,I thought nobody was in the way of us drilling for oil anywhere and everywhere.
You did'nt even address that point,and I even took the time to provide you a link to prove that statement was wrong.As far as ANWAR goes,If we had started drilling,or at least started the process,on the day oil hit $100 a barrel,we would be well on the way to extracting that oil.
NH Insider, "Global Warming Fanatics just won't concede that they have been DUPED!!!"
You will never win that argument NH.These people are smarter than we are,just ask nonplussed.They will never admit to falling for junk science and propaganda.Unless we can produce video of AL Gore actually in the act of fixing the science they will go to thier graves believing in man made Global Warming/Climate Change.Facts don't matter.As you can see from above they will say some of the most ridiculous stuff("No one stands in the way of us producing all the energy we need. Not even the Democrats."nonplussed)and simply ignore the proof you provide(in the form of links),and continue on thier delirious little way.
I appreciate np for playing along but I don't think we will ever convince him he is wrong.And I am sure he feels the same way.Now it's up to the American people who to believe.Tax and spend,uh I mean,Cap and Trade should be a rather large issue in the coming elections.Politicians who stand behind this legislation should get thier behinds kicked,which will effectively kill that piece of crap.
Oliver: I'll try one more time. The US's proven reserves (this is the oil that is in the ground that is considered ultimately extractable using current technology and at reasonable costs. These underestimate actual extraction results, as technology will improve the amount and there will be modest new finds in the years ahead. But its worth noting that our proven reserves have decrease from over 35 billion barrels 30 years ago to around 21 billion bbls today. That includes Bakken, Anwar, off-shore,etc., etc. Let's be generous and double the amount to 42 billion barrels.
Assume we were able to extract all of this oil in the next 21 years. That would be 2 billion barrels per year, or 6 million barrels per day. In other words, we have enough oil to meet half our import needs for the next 21 years.
And that's it.
Do you understand why "drill, baby, drill" isn't going to work?
You mentioned Peak Oil in one of your above screeds. Do you understand what they are saying when they say PEAK OIL? The are implying without admitting that OIL is a renewable resource!
Let's not forget there is also PEAK WOOD, PEAK BIOMASS, and PEAK WIND! But those are all ok because they could actually provide something like 5% of our energy needs and that right there makes it all worth it right!!! Never mind trying to use the 50% possible from oil or the equally large amounts for coal, those just aren't worth the time or effort for such pitifully small amounts.
Yes Liberal environmental double speak ... Because even though IPCC has been busted for lying with the data and NASA Dr Hanson won't reveal which set of numbers he used though his reports are mirror images of the IPCC reports showing the last decade as the warmest on record, and with such learned scientists as Al Gore and George Soros on their side who could possibly not believe every word they say!
Work Hard Have Fun!
Bob DeMaura
I think (and I'll be charitable here) you are a little confused. Well, actually a lot. Oil is a renewable resource only if your time scale is tens of millions of years. In any case, peak oil has nothing to do with whether or not oil is renewable.
To quote Wikipedia, "Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline." The general concept can also be applied to a well, a field, a nation's oil production, or the the entire world. For example, the Alaskan Northshore oil field reached peak production in the late 1980's and has since declined by 65%.
I see the conspiracy that you say you don't believe in now includes the IPCC (not sure if its all 2500 scientists or just the ringleaders), NASA, Al Gore, and George Soros. You left out (no doubt from fear of retribution) the gnomes of Zurich . You also forgot the Illuminati. This is particularly egregious, because the Illuminati are the guys that fly the black helicopters. They're gonna be pissed.
I haven't said anywhere that producing oil in the US is a "bad thing". My guess is you are projecting, just like Oliver. This discussion started when I laughed at the false claim that there are 500 billion barrels of oil in the Bakken field ready for the taking. This is a hoax that no doubt started as a stock scam and was picked up by the delusional tea party crowd. These poor souls probably believe the only thing that stands between them and unlimited cheap oil is guvmint and libruls (and of course Al Gore, Soros, the IPCC, and the Kenyan).
Fianlly, are you aware that the period (.) is the normal way to end a sentence? The exclamation point (!) is reserved for alarming or shocking statements. Now I understand your innumeracy is a little alarming, but that isn't cause to !!! everything you write.
Why are the last 3 posts signed NHInsider when it is,supposedly,nonplussed in at least two of them?
Well anyways,nonplussed just goes from one lie to the next without skipping a beat.What is it with you people and lying?You failed to address your easily provable lie that Democrats don't stand in the way of "drill baby drill".I even provided a link(just one,if I thought it would help I could provide several more),and still no retraction.
Now he's spouting off about Global Warming with absolutely no links provided to back up his assertions.You know why?BECAUSE THERE ARE'NT ANY!The scientists involved in this scam refuse to provide access to the data that supposedly proves the Earth is going to melt in a hundred years.They are,right now as we speak,fighting tooth and nail to keep that data from ever reaching the public despite laws that compel them to release the information.Now why would that be?And how do you feel about one report after another being found to be completely bogus,with no scientific research being done at all,just peoples observations being sold as peer reviewed research?
Don't bother answering.I'm sick of some anonymous coward spouting lies.At least when you debate/argue with Chaz or J.Splaine they have the courage to sign thier name next to the bullshit they spout.
I mistakenly failed to sign one entry so Nick Papa ... ahh I mean NonPlussed decided to then sign all his entries as NHInsider. Just one of the childish things the Buckleyettes do!
You are right Tim they will never admit that they are using "scientific reports" based on data that they will not release so no one else can duplicate their findings. Hardly science in any sense. They won't admit that it isn't about climate at all ...
Work Hard Have Fun!
Bob DeMaura