OIL OIL OIL here in the U.S

[Rich Weese]

I'll never understand our fake concerns with oil and stupidity not to drill here. There is an article at the end of this post from Geological Assn that seems to be legit. Why are we so stupid?

WHY ARE WE FORCED TO DRILL ONE MILE BELOW THE OCEAN WHEN SAFER LAND BASED OIL IS AVAILABLE? SOMEONE NEEDS TO START ASKING SOME SERIOUS QUESTIONS OF OUR SUPPOSED GOVERNMENTAL REPRESENTATIVES. MIGHT THERE BE AN AGENDA INVOLVED?

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:

http://bakkenshale.net/bakkenshalemap.html

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 John son, 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, 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

[Vikram C.]

Guys, I studied this stuff just about 18 months back as part of evaluating an oil investment. The U.S. does have more oil reserves than originally thought. The proven reserves keep increasing as we find more ways of extracting it, but it is still not quite the same as Saudi Arabia's. (Canada's proven reserves, in fact, are quite vast and among the top 2-3 in the world.)

One of the problems with North American reserves is that they are not cheap to extract. Whether it is Tar Sands, Oil Shale or deep sea drilling, they are all quite a bit more expensive than oil from the Middle-East. In addition, none of them are environmentally clean so deep sea drilling may not really be worse than onshore extraction.

Natural gas, on the other hand, is plentiful in North America and other non-Opec countries and has been increasing its share of energy consumed. I think this is going to be a major long-term trend and, hopefully, will reduce Opec's power over the next few decades.

BTW, I support laws that allow drilling instead of restricting it unnecessarily. It is entirely reasonable to expect oil extractors to pay for technology to keep their work clean but I do not think it is appropriate to prevent extraction altogether.

I also do not think it is a good investment to keep oil under the ground in the hope that we can extract it later when its value is higher. Alternatives to oil are rapidly improving and their cost per unit of energy is declining quite rapidly. We are probably in the last oil century now and it makes sense to get it out as soon as we can.