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U.S. Oli Reserves

ronsroom1

Silver $$ Contributor
Just some LITE READING that a friend sent me..........Ron :D

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

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

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 fore ign 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.' 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 41 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 is more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction.

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!

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.

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Don't think 'OPEC' will drop its price -even with this find? Think again! It's all about the competitive marketplace, - it has to.
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Got your attention/ire up yet? Hope so!
Now, while you're thinking about it ... and hopefully P.O'd, do this:

3. Pass this along.. If you don't take a little time to do this, then you should stifle yourself the next time you want to complain about gas prices .. because by doing NOTHING, you've
forfeited your right to complain.
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Now I just wonder what would happen in this country if every one of you sent this to every one in your address book.

http://www.usgs.gov/newsroom/article.asp?ID=1911
 
Bakken is real, but the solid numbers suggest recoverable reserves are in the 3 to 4 billion barrel range. That is substantial, but the numbers cited in the following report are just wrong:

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 is more than 2 TRILLION barrels.

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

From thw USGS:

Reston, VA - North Dakota and Montana have an estimated 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in an area known as the Bakken Formation.

A U.S. Geological Survey assessment, released April 10, shows a 25-fold increase in the amount of oil that can be recovered compared to the agency's 1995 estimate of 151 million barrels of oil.

Technically recoverable oil resources are those producible using currently available technology and industry practices. USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources.

About 105 million barrels of oil were produced from the Bakken Formation by the end of 2007.

From Snopes.com:

"Certainly 3.65 billion barrels of recoverable oil is nothing to sneeze at, but a little perspective is in order. The U.S. currently imports an average of about10 millionbarrels of oil per day,for a total of about 3.65 billion barrels of oil per year), so even if ALL the estimated undiscovered oil in the Bakken formation were extracted today, it would only be enough to wean the U.S. off of crude oil imports for one year. That's still a good thing, but it's not nearly "enough crude to fully fuel the American economy for 41 years straight" as claimed above.

----

So, Bottom line... Bakken IS producing now, and total extraction would equal about 1 year's oil consumption in the USA.
 
I am from ND and old news to us. My Mom was living in MN at the time they released this news. A few months later I was talking to her and she asked what is happening in ND because the company her husband works for was pulling people off other jobs to set up rigs or something like that. Any way I told her about all this oil and she never heard about it. Apparently they are keeping this a big secret.
 

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