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"Que Bono Peak Oil" Posted 11 October 2009
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TOPIC: "Que Bono Peak Oil" Posted 11 October 2009
#39
"Que Bono Peak Oil" Posted 11 October 2009 10 Months, 4 Weeks ago Karma: 0
This article discusses a purported gigantic discovery of high grade crude oil in the Western United States. Known as the "Williston Basin" and also colloquially as "The Bakken," the oil field is reported to contain a 2000-year supply of oil for the United States and questions why it is not being tapped.

Your thoughts?
Carl
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#40
Re:"Que Bono Peak Oil" Posted 11 October 2009 10 Months, 4 Weeks ago Karma: 0
Here's the original e-mail I receive, in toto.


**************************************************************************************************** Could the Middle East be funding the environmentalist?!?!?!? – Read all!!!!

AMAZING! Think of all the people that could have jobs.

Here's an interesting read

Also if I may add, about 6 months ago I was watching a news program on oil and one of the Forbes Bros. was the guest. This is out of context, but this is the actual question as asked. 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 ('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 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 onsh ore 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 2041 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!



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 load 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/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.
--------
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.
www.usgs.gov/newsroom/article.asp?ID=1911
Carl
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#46
Re:"Que Bono Peak Oil" Posted 11 October 2009 10 Months, 3 Weeks ago Karma: 0
Interesting article.

All I can say is the oil companies must be stupid not to want to drill for that much oil right in our back yard!

smiley
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#50
Re: 10 Months, 3 Weeks ago Karma: 0
smiley wrote:
Interesting article.

All I can say is the oil companies must be stupid not to want to drill for that much oil right in our back yard!



Smiley,

That may be so, Smiley, but I tend to doubt it.

The oil companies didn't get to be a large as they are, and their owners as wealthy as they are, by being stupid.

I think it's more likely they see an advantage in doing something else. Maybe the oil in the Mideast isn't as expensive as we think. Maybe the oil in the Bakken is not as inexpensive as we think. Maybe they just want to run the Mideast out of oil before they tap ours.

Whatever it is, I think they oil companies will do whatever they perceive to be in their best interest.

Cheers,

Carl
Carl
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#54
Re: 10 Months, 3 Weeks ago Karma: 0
Carl wrote:
smiley wrote:
Interesting article.

All I can say is the oil companies must be stupid not to want to drill for that much oil right in our back yard!



Smiley,

That may be so, Smiley, but I tend to doubt it.

The oil companies didn't get to be a large as they are, and their owners as wealthy as they are, by being stupid.

I think it's more likely they see an advantage in doing something else. Maybe the oil in the Mideast isn't as expensive as we think. Maybe the oil in the Bakken is not as inexpensive as we think. Maybe they just want to run the Mideast out of oil before they tap ours.

Whatever it is, I think they oil companies will do whatever they perceive to be in their best interest.

Cheers,

Carl


Good point.

I hadn't thought of it that way.

smiley
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#55
Re: 10 Months, 3 Weeks ago Karma: 0
Carl wrote:
smiley wrote:
Interesting article.

All I can say is the oil companies must be stupid not to want to drill for that much oil right in our back yard!



Smiley,

That may be so, Smiley, but I tend to doubt it.

The oil companies didn't get to be a large as they are, and their owners as wealthy as they are, by being stupid.

I think it's more likely they see an advantage in doing something else. Maybe the oil in the Mideast isn't as expensive as we think. Maybe the oil in the Bakken is not as inexpensive as we think. Maybe they just want to run the Mideast out of oil before they tap ours.

Whatever it is, I think they oil companies will do whatever they perceive to be in their best interest.

Cheers,

Carl


Good point.

I hadn't thought of it that way.

smiley
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