About 6 months ago there was a news program on about oil and one of the Forbes brothers was the guest. And 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 Service issued a report in April 2008 that only scientists and oil men knew was coming out, but man was it big. It was a revised report (that hadn't been updated since 1995) of how much oil was in this area of western 2/3 western North Dakota, and western South Dakota and extreme eastern Montana: Check this out: The Bakken is the largest oil discovery since Alaska's Prudhoe Bay and has the potential to eliminate all American dependence upon foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels. Even if only 10% of the oil is recoverable, 5 billion barrels, at $107 per barrel we are looking at a resource base worth 5.3 trillion. 'When I first briefed the legislators on this you could practically see their jaws hit the floor. "They had no idea" says Terry Johnson, Montana's legislator's financial analyzer. This sizeable find is now the highest producing on shore oil field found in the past 56 years' reports the Pittsburg Post Gazette. It's an information known as the Williston Basin but is more commonly referred to as the Bakken. It stretches from Northern Montana thru North Dakota and into Canada. For years the 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 break-through has opened up Bakken's massive reserves, and we know have access to 500 billion barrels. And because this is Light, Sweet Oil, those billions of barrels will cost Americans just $16 PER BARREL! That is enough crude to fully fuel the American economy for 2041 straight years. And if that didn't throw you on the floor then this next one should because it is from 2006. U.S. Oil discovery - LARGEST RESERVE IN THE WORLD STANSBURY REPORT online - 4/20/2006. Hidden, 1000 feet below the Rocky Mountains lies the LARGEST UNTAPPED OIL RESERVE in the world. It is more than TWO TRILLION BARRELS. On August 8, 2005, president bush mandated it's extraction. In many recent years of high oil prices NONE has been extracted. With this mother load of oil why are we still fighting over off shore drilling? They reported this stunning news: We have more oil within our borders than all other proven reserves on earth. Here are the official estimates: 8 times as much as Saudi Arabia 18 times as much as Iraq 21 times as much as Kuwait 22 times as much as Iran 500 times as much as Yemen How can this be? How can we not be extracting this?! Because environmentalists have been used along with other groups to block ALL EFFORTS of America becoming oil independent! AGAIN, we are letting a small group of people dictate our lives and economy. WHY? James Bartis, lead research with the study says we've got more oil in this compact area than all of the middle east, more than 2 trillion untapped barrels. 'That is more than all the proven oil reserves of crude today in the world' reports the Denver Post. Don't think 'OPEC' will drop its price even with this find?! Think again. It's all about the competitive market place, it has too. Think 'OPEC' might be funding the environmentalists? Got your attention yet? Now, while you're thinking about it do this, pass it 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, because when you have done nothing to helpβ you forfeit your right to complain.
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (38)
sorted by:
https://www.usgs.gov/faqs/how-much-oil-and-gas-are-actually-bakken-formation
http://www.petroleumworld.com/lag09121001.htm