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Untapped Oil In the USA.

Discussion in 'Politics, Elections & Legislation' started by J.Woolsey, Oct 29, 2009.

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  1. J.Woolsey

    J.Woolsey Member

    Aug 12, 2007
    Subject: Fw: OIL - you better sit down.

    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.

  2. recurvyarcher

    recurvyarcher Well-Known Member

    Apr 26, 2006
    "But how does that fit in with Cap and Trade?"
  3. stokinpls

    stokinpls Well-Known Member

    Jan 29, 1998
    Didn't goofball Clinton make all of that area a National Park?
  4. Charles.F.Phillips

    Charles.F.Phillips TS Member

    Oct 6, 2009
    <i>"The U.S. currently imports an average of about 10 million barrels 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."</i>
  5. Big Heap

    Big Heap TS Member

    Jan 29, 1998
    Today's NYT

    Plan to Drill on Colorado Plateau Meets Resistance By SEAN PATRICK FARRELL
    RIFLE, Colo. — Standing in a canyon in hilly terrain, Ken Neubecker cast his fly into a cold stream. Minutes later he had a bite. Thrashing at the end of his line was a speckled green fish, a scarce Colorado cutthroat trout.

    Mr. Neubecker was fishing on the Roan Plateau, a high stretch of terrain beloved by hunters, anglers and hikers for its clear streams, herds of deer and elk, and rugged beauty.

    “There just aren’t many places like this in the West,” Mr. Neubecker said. “It’s a real gem.”

    Energy companies are looking at the Roan Plateau, too — through entirely different eyes. Vast deposits of natural gas are believed to lie beneath the stretch on which Mr. Neubecker was fishing, and the companies want to drill.

    “What is really special about the Roan Plateau, these lands in particular, is the incredible energy density beneath it,” said Duane Zavadil, vice president of the Bill Barrett Corporation, a Denver energy company that holds drilling rights to the Roan.

    The company’s plans are at the center of a battle over the future of the plateau, one that could influence the fate of thousands of acres in the high country known as the intermountain West.

    A last-minute leasing push by the Bush administration put extensive federal lands in Utah and Colorado into the hands of oil and gas companies, including 36,000 acres of the Roan Plateau. The Obama administration has inherited the touchy question of what to do with those leases.

    As one of his first decisions, Ken Salazar, the Coloradan who is President Obama’s interior secretary, scrapped a series of disputed leases in Utah. Last week, he announced that he would seek an investigation into other leases that granted favorable terms and low royalty rates for experimental projects to extract oil from shale.

    But so far, Mr. Salazar has decided against canceling leases on the Roan, saying that he must uphold the buyers’ rights.

    Sporting and environmental groups are suing the government in federal court, demanding that the leases be thrown out, and a preliminary ruling is expected this fall.

    Lands like those of the Roan Plateau are not the pristine sort of wilderness found in places like Yellowstone or in Rocky Mountain National Park. They are generally cut by roads and have been used as rangeland for cattle for decades.

    “The Roan Plateau is a microcosm of the West that up until now would not have received attention,” said Chuck Davis, a professor of environmental politics at Colorado State University. He said groups from across the political spectrum — including city dwellers with second homes, hunters, hikers and ranchers — are increasingly questioning the need for oil and gas development in places like the Roan, concluding that “second or third echelon is still pretty special.”

    As Mr. Neubecker acknowledged on his fishing trip, “This isn’t classic Colorado ‘majestic mountain peaks’ country.”

    But as the number of truly wild places in the United States dwindles, people like Mr. Neubecker, who is president of the Colorado chapter of a conservation group called Trout Unlimited, are arguing that the nation ought to recalibrate its view of what is worth saving.

    This desire to preserve more land is running up against a powerful economic incentive to develop new supplies of oil and gas. In particular, the nation is undergoing a boom in natural gas drilling. New production techniques have expanded the country’s potential reserves of gas by 40 percent in the last few years.

    Expanded gas output offers environmental benefits. Burning natural gas emits less carbon dioxide than burning other fossil fuels, and many experts argue that substitution of gas for dirtier fuels should be a major strategy to reduce the nation’s contribution to global warming.

    But some of the methods of getting at the gas — fragmentation, for instance, which breaks up the shale to get to gas pockets — can also pollute water supplies, critics say.

    This week, one of the largest gas companies said it would not drill in upstate New York after encountering opposition from local residents.

    As it lays plans to exploit the Roan Plateau, the Bill Barrett Corporation is promising sensitivity to the area’s wild character.

    The company acquired its drilling rights last year after buying a 90 percent stake in the leases from Vantage Energy, which won them at a federal auction last August. (That auction netted nearly $114 million, a record for a lower-48 onshore lease.)

    The company has told investors that if it is allowed to develop the plateau, it may drill as many as 3,200 wells. But Mr. Zavadil said the company would diligently avoid trout streams and minimize other disruptions by using advanced techniques to pack dozens of wells together.

    The company has also pledged to develop only portions of the plateau at a time, and to put up money to improve wildlife habitats.

    “We can have our cake and eat it, too,” Mr. Zavadil said. “The Roan Plateau will be preserved with oil and gas development. There will be a short while when there are wells being drilled and trucks driving by, but the benefits far outweigh those minimal costs.”

    From atop the Roan’s cliffs, it is easy to see signs of encroaching oil and gas development. Service roads, well pads and gas rigs spread out across the valley floor. Such intensive energy development is remaking big parts of the landscape stretching the length of the Rocky Mountains.

    Opponents fear that development on top of the Roan Plateau will despoil it, leading to air and water pollution and disruption of wildlife.

    In the Bush administration’s leasing program, those potential impacts were not taken fully into consideration, contends Michael Freeman, a lawyer with Earthjustice, which filed the suit calling for the cancellation of the Roan leases.

    Mediation in the case is scheduled for Nov. 6. The groups suing the government are asking a judge to revoke the leases. That would not necessarily put the Roan off limits to future development, but it might require a fresh assessment of the environmental risks.

    For his part, Mr. Neubecker said he did not oppose drilling for natural gas, but was concerned that it happen in the right places. “I cook with natural gas, and I love the stuff,” he said. But on a tour of the plateau, he pointed out aspects of the landscape that in his view were worth preserving.

    The rugged hills are dotted with sage and aspen groves. Some creeks are watering holes for cattle, but most appear untouched, rushing through the deep shale canyons that define the plateau’s topography. Vegetation hangs from some escarpments, and smooth shale slabs hold back pools of trout.

    The cutthroat trout that Mr. Neubecker comes to fish from the Roan’s streams have been isolated since the last ice age by the steep canyons and waterfalls.

    He asserted that a spill of drilling chemicals could “wipe out this population forever.” In fact, similar trout populations exist elsewhere in the West, but the Roan’s cutthroats are genetically pure, and preserving the fish is a major conservation goal in Colorado.

    “There are some places where there are other values that have to considered, above and beyond the strict natural gas value,” Mr. Neubecker said. “And this is one of them.”
  6. tcr1146

    tcr1146 Well-Known Member

    Jan 29, 1998
    Sorry Charlie, just like the tuna commercial! I do not know if you did the math or that ignorant liberal husband/wife snopes team did the math, but 500,000,000,000 (that is 500 billion by the way) divided by 3,650,000,000 = 136 + years!! If you did the math, check it again because you are wrong!!! Tom Rhoads
  7. Charles.F.Phillips

    Charles.F.Phillips TS Member

    Oct 6, 2009

    If the number really were 500+ billion barrels, then your arithmetic would be correct. However, the USGS <i>never</i> reported a number like that. The 2008 report said the following:

    <i>"The USGS estimate of 3.0 to 4.3 billion barrels of technically recoverable oil has a mean value of 3.65 billion barrels."</i>

    Used at the current rate of about 10 million barrels per day, then the 1 year figure is correct.

    Sorry, but it was just another internet email that was worth every penny you paid for it.

    R/s,<br />
  8. Cooter

    Cooter Member

    Aug 26, 2009
  9. 391 shooter

    391 shooter Well-Known Member

    Jun 3, 2008
    Think, how and why in the world is China still buying our debt?

    Because of land and untapped minerals, they no full well we are printing(money) ourselves into corner we can not get out of, so, when the note is called and your out of chips (cash) what do you do, offer up tangible property in our case our Coal, Oil and Gas reserves and land. We have lots of it.

    Since the Feds now own millions and millions of acres of land, they will be forced to comply or be invaded by China.

    It is a known fact the a large number of our Military brass are very very concerned of the Naval build up of China. For the previous 5 years they have been buying all the scrap metal they could get from us and as any of you know who are in manufacturing, the price of steel went through the roof. ( remember what Japan did before WWII, yeah they bought our scrap metal by the ship full.

    Satalite based weapons make our Carrier groups sitting ducks. It will boil down to what has been for a long time now, they will become the power and will force us to comply by threat of action, knowing full well that that is not what they want. What they want is a limited incounter to not totally destabilize a take over and disrupt supply chains any more than neccessary.

    But trust me, no matter what they (China)will get paid back. It is no different than a bank wanting a note paid, just on a much larger scale, first the nice letters, then the certified letter, then the phone calls, then the threat of forclosure then the,sheriff serves notice, then the act of foreclosure and bango, they get a Mulitrillion dollar property for mear pennies on the dollar.

    Chruschev said it a long time ago when he banged his shoe on the desk at the UN, "We (Stalinests & Communists) will bury you without firing a shot" and by God they are doing it right under our noses.
  10. Chugiakshooter

    Chugiakshooter Member

    Jun 14, 2009
    Do your realize Alaska on the north slope pumps enough natural gas back into the ground each day to run the state of California for a year.So lets get poltics and greenes envolved and not build a pipeline to tide water too BETTER the USA!!!!!!!!!!
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