Mar 7 - How Much Oil Does the US Have in the Ground??
|5 years ago||class of '05 - away - #1|
How Much Oil Does the US Have in the Ground???
program on oil and one of the Forbes brothers 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."
The U. S. Geological Survey 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 (which had not 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 ...
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. 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.
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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 'mother lode' of oil why are we still f!ghting 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.
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 .
Do ya think OPEC will drop its price - even with this find? Think again!
Do ya think OPEC just might be funding the environmentalists? Hmmm.
how much oil does the U.S. have in the ground?" - misc.survivalism | Google Groups
|Props given to bobbysteels18||KFrizzle (03-08-2011)|
|5 years ago||class of '06 - away - #4|
glad i saw this today. me and my home boy was talking about why we are getting our oil from different countries earlier today. he was very adamant about saying that we just simply dont have enough oil to supply america's demand here. i didnt believe him or that story one bit. if you think about it, look at the places that america has oil located in , texas, alaska, and now this stretch of land in the northwest. all of these places are damn near if not bigger than the countries that we buy from, so the potential for more oil from here has to be substantial. i told him the sole reason that we dont use our oil is not because we dont have enough, but because we are being stingy with it. do you know how much power you hold with an oil reserve w/ that much oil. if the rest of the world ever started running low on oil, America is going to jump on that like white on rice and youll never hear about national debt again. until then, we have to find a way to get around these environmentalist groups that make it hard to even start piping the s**t in. im all for using our own oil but the evil sounding plan to take over the world via the largest oil supply known to man sounds even better to me. bwahhahah.
|03-08-2011, 03:03 AM||class of - - #7|
|5 years ago||class of '07 - away - #8|
Dunno man if thats real then why isnt it on the news or crushing the price of crude? i clicked the link it is saying something about 3 - 4.3 billion barrels :S
also click on the main link the thread starter made and read the comments below his statement.
Last edited by ham00di; 03-08-2011 at 05:55 AM..
|5 years ago||class of '06 - away - #10|
An articla I came acroos about the topic...
Two days ago, the Venezuelan Embassy in Washington put out a Twitter post expressing disappointment that the documentary "Gasland" didn't win an Academy Award.
"Sadly, 'Gasland' didn't win an Oscar, because a Vzlan helped make it," Venezuela's Twitterer whined.
Sure enough, "Gasland" did have a Venezuelan production a.ssistant, Irene Yibirin, who was featured on the Venezuelan government's Web site. Her ties to the government's Foundation National Cinematheque were noted there, meaning she's trusted by the dictatorship. And on the site, she praised Chavez.
Problem is, "Gasland" isn't about Venezuela. It's a U.S. propaganda film meant to whip up opposition to energy drilling in the U.S. That means driving energy production to overseas suppliers — like Venezuela, whose leader, Hugo Chavez, not only needs U.S. oil cash but wants the U.S. "empire," as he calls us, "defeated."
Chavez has long had an interest in creating propaganda films to influence the U.S. public, having already supported filmmakers like Oliver Stone and Danny Glover. It should comes as no surprise that Chavez has an interest in making anti-U.S.-drilling films as well.
What's more, his resident shill in the U.S., Citizens Energy's Joe Kennedy — who has received some $20 million in cheap Venezuelan gas to distribute to the poor, and who owes Chavez favors — has called for more regulation of the U.S. oil industry, which would halt drilling.
Of course, Chavez isn't the only one against drilling.
Leftist billionaire George Soros has helped fund the Sundance Film Festival, where "Gasland" was given a coveted showing at this year's tony filmfest.
Coincidence? The American Thinker's Ed Lasky thinks not. He notes that the film's anti-drilling agenda fits neatly with the interests of Soros' own overseas-energy investments.
Like Kennedy, Soros seeks onerous new regulations on U.S. energy companies.
"His latest efforts to try to weaken American energy companies and empower their overseas rivals is by advocating the Securities and Exchange Commission draft laws that burden our companies — and leave foreign ones alone and untouched," Lasky wrote.
It doesn't end there. Soros has also funded politically influential think tanks opposed to drilling, like the Center for American Progress and Moveon.org.
With crude prices soaring, CAP has advocated releasing oil from the strategic petroleum reserve instead of drilling for more. That won't add to our oil supply — or reduce our energy dependence on petro-tyrants.
Both Soros and Chavez have a long-standing desire to weaken the U.S. Neither is a radical environmentalist, but both have fundamental political and economic interests that lead them to oppose U.S. drilling. It ought to be seen as the strategy to harm America that it is.
And also not being metioned is that its not just oil but oil shale - to refine it takes a lot.
Last edited by ClevelandRay; 03-08-2011 at 11:37 AM..
|5 years ago||class of '05 - away - #12|
|5 years ago||class of '07 - away - #15|
|5 years ago||class of '04 - away - #18|
i dont get this. u posted this off another post that someone made, linking it to an article that reads "3-4.3" billion, while the inital post said 503 billion?
im confused...get a better source.
someone commented on the post and said the following
"In article <4b9667a1$0$3595$9a6e1...@news.newshosting.com>,
raykel...@rnsmte.nospam.com (raykel...@rnsmte.nospam.com) says...
> 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.
You missed a decimal place, or somebody did a typo. The actual
estimated reserve is 4.3 billion barrels.
> "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 .
> We now have access of up to 500 billion barrels.
Your are overstating the estimated reserves by 2 orders of magnitude.
> And because this is light, sweet oil, those billions of barrels
> will cost Americans just $16 PER BARREL!
To refine, maybe. It will cost 10 times that to get it out of the
> That's enough crude to fully fuel the American economy for 2041 years straight.
Once again, you are not paying attention to the numbers.
> - 8-times as much oil as Saudi Arabia
Your math is way off. Saudi Arabia has estimated reserves of 269
billion barrels. The Bakken formation has 3 to 4.3 billion barrels.
That's 1.5% of Saudi Arabia's reserves.
> 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.
As of 2007, the US had extracted 106 million barrels from this
formation. The oil is diffuse across a large geographic area, and
extraction will require the best, and most expensive of our oil field
technologies. Environmentalists have had less to say than the people
who actuall live there and hold the mineral rights.
> Verify it at this official U.S. Geological Survey website:
You should do your homework before posting crap.
We actually have some fairly large reserves.
America's oil shale and tar sands reserves are estimated at 1.3 trillion
barrels. Unfortunately, that will require digging up Utah, Colorado and
Wyoming. It's going to be hugely expensive, both in dollar amounts and
environmental damage. It would require the output of several nuclear
power plants just to cook the oil out of the shale and sand, plus the
effort of cracking the heavy molecules into usable fuel. "
fail hot topic..
Last edited by youngen; 03-08-2011 at 08:37 PM..