January 26, 2011

OIL—you better be sitting down when you read this ! !

Here’s an astonishing 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, 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.

  1. Conor J. Pratt
    January 28, 2011 at 11:15 pm

    The claims in this post regarding the presence of “up to 500 billion barrels” of oil in onshore US-Canadian oilfields are not substantiated by the source provided, nor by any other sources I’ve been able to locate in a few minutes of internet searching on the topic.

    The article to which you link ( http://www.usgs.gov/newsroom/article.asp?ID=1911 ) has as its title: “3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation—25 Times More Than 1995 Estimate”.

    And its first two sentences are:
    “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.”

    In both quotations above I have bolded the relevant figures.

    Nowhere here is there any reference to a quantity of “up to 500 billion barrels”.

    Simultaneously, the U.S. Energy Information Administration and the CIA’s World Factbook (updated March 3, 2009 and January 1, 2010 respectively) state that the U.S. has about 20 billion barrels of conventional proved oil reserves.
    They also state that Canada has about 5 billion barrels of conventional reserves, about 21 billion barrels of bituminous oil sands “under active development”, and another ca. 152 billion barrels of bituminous oil sands not yet under active development.
    This gives a total Canadian reserve of about 178 billion barrels, over 95% of which is in oil sands.
    Recovering petroleum from oil sands is substantially less energetically and economically efficient than conventional oil production, and results in a larger quantity of greenhouse gas emissions and other environmental concerns (e.g. leeching of mining byproducts into groundwater) per unit of recovered chemical energy compared to conventional oil wells.

    For comparison with Canda’s figures, the 12 other largest holders of oil reserves according to the CIA are:
    Saudi Arabia: about 264 barrels,
    Iran:137 billion,
    Iraq: 115 billion,
    Kuwait: 104 billion,
    United Arab Emirates: 98 billion,
    Venezuela: 97 billion,
    Russia: 74 billion,
    Libya: 47 billion,
    Nigeria: 37 billion,
    Kazakhstan: 30 billion,
    Qatar: 25 billion,
    China: 20 billion.

    I’m not sure what fraction of each nation’s reserves are in conventional oil vs. (extra)heavy oil or oil sands, but I believe it’s a significant fraction in most of them, and perhaps a majority in some. For reference, Wikipedia hosts this graphic showing the distribution of oil reserves in each category: http://en.wikipedia.org/wiki/File:Total_World_Oil_Reserves.PNG , which is based on the data reported in: http://www.slb.com/resources/publications/industry_articles/oilfield_review/2006/or2006sum03_highlighting_heavyoil.aspx

    Hopefully I’ll have the stamina to get back to you with fractional breakdowns. Though maybe you’ll find a resource for that before I do.




  2. January 27, 2011 at 12:39 pm

    Lovely post, sweet webpage design and style, maintain the great work

  1. January 27, 2011 at 2:44 am
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