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Oil fields in Amercian

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Has anyone else heard of this???
 
oil - http://www.usgs.gov/newsroom/article.asp?ID=1911

 
OIL (not a joke)

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 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.'  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!

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?
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/13/2009 at 09:16
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Yes, this is fact. However, environmentalists, the EPA, and on down the line,will have you believe that extracting this oil will ruin the environment, and totally destruct the world.
 I hope I am wrong, but I don't think they will extract oil there in my lifetime.
 Also remember, oil companies will still have you believe it will cost upwards of $100 per barrel so they can keep that almighty profit up. 
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/13/2009 at 17:25
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The Oilmen in America have been working on a solution to extract hydrocarbons from oilshale since the 1960s.  It sure as hell isn't going to harm the environment anymore than conventional drilling does.  It is just real tricky and expensive.  We have more oil in the USA than the Arabs do in the Middle East.....we just need to drill for it.  Naturally, our dumbass government denies all of this and prefers to pay for oil at whatever OPEC sets the price at.  We are at their mercy.  If oil goes to $100 a barrel for crude...then Texaco has to pay $100 a barrel for it.  And that is CRUDE OIL. 
 
Then Texaco has to ship it to the USA in oil tankers.  Then they gotta unload it in New Orleans or Houston or Philadelphia or Mobile.  Then they gotta refine it and turn it into gasoline and kerosene and heating oil.  Then they gotta truck it to a 7 Eleven near you.
 
There are 42 gallons in a barrel of crude.  So they are paying $2.38 a gallon for it in the Persian Gulf.  Then the US GOVT taxes the sh*t out of it ( about 30c a gallon----AND THEY DIDN'T DO ANYTHING EXCEPT TAX IT!!! ).  Then the price for a gallon of gas is $2.90 a gallon.  How much PROFIT did the oil companies make??   Maybe 22c a gallon.  How much did the government make?? 
 
Why do the oil companies report such huge profits??  Because Americans BUY THE sh*t OUT OF IT!!!   Say A Trillion Gallons a year!!!   Is Exxon gouging us?? 
 
We could be drilling our own oil.  The Arabs would then not control the supply and they could not manipulate the price.  Oil still may cost the same but OPEC--and the Middle East could not shut the World off if they felt like it......like they can now. 
 
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/13/2009 at 17:41
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OMG ED just made sense.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/13/2009 at 17:46
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Originally posted by Average Joe Average Joe wrote:

OMG ED just made sense.
 
OMG, Ed and AJ are agreeing with each other
 
 
The Sky is Falling, The Sky is Falling!
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/13/2009 at 21:44
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you guys threw ed one right in his wheel house. you see ed is an old "roughneck" spent plenty of days on a noisy drilling rig trippin pipe day after day. nothing new to ed, hell i grew up in a place where ed drilled!Shocked i have friends who are working in the bakken fields right now. wonder why north dakota has a billion dollar surplus in their budget this year?
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/14/2009 at 06:50
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Ed speaketh the truth.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/14/2009 at 17:10
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Edited by Ed Connelly - July/14/2009 at 20:13
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/14/2009 at 20:04
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 Half-truths.

Do you guys really think that we wouldn't be extracting billions of gallons of oil from shale right now if we could do it efficiently?

 We don't yet have the technology to extract that oil from the shale in a usable form without expending more energy than we get out of it. That is what Ed meant when he said it is 'tricky and expensive'.

 
 We need to speed up research to hopefully get there someday, but we sure aren't there yet.
 
Believe me- if EXXON could, EXXON would.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/14/2009 at 20:19
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The Feds have shot down the whole project last year.  Won't let them continue drilling for oilshale in the Battlement Mesa area of Colorado.  Is this deliberate, or what??? 
 
The government is routinely LYING about how much oil reserves are in North America.  And 'the Public' is buying it.  Like there is no oil in Alaska.  The caribou will all perish.  It's better to just come up with an alternative energy source.......GO GREEN...Big Grin.........by next Tuesday. 
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/15/2009 at 10:50
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They have been trying to get the oil out of shale for more than 30 years and know all about it. If you can figure a way to get it out that makes sense financially you can get rich overnight.
Duce 
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Raytheon sold a license to Shumberger to extract oil from shale with ultrasonic heating of the shale underground, now you just had free electricity to run the ultrasound it may be doable.  Exxon-Mobile was trying out in the Grand Junction area in the early 80s but it was too expensive.
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Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/15/2009 at 11:40
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budperm, where did you get the figure of 500 billion barrels? The USGS press release says 3-5 billion barrels are potentially recoverable in the Bakken formation in the Williston Basin. Saudi oil reserves are officially estimated @ 260 billion barrels, which is definitely a lie, but even if it is half that I don't see how anyone can claim that we somehow have anything near that left in North America. Also, Montana and North Dakota producers never get anywhere near the spot price of oil so that $107 figure (even if was the current price of oil, which it is not) is discounted $10-30/bbl (http://www.nd.gov/ndic/ogrp/info/g-008-018-report.pdf).

As for oil shale, like other posters have stated (and this is directed at all those who think we're all being lied to because there are massive amounts of "hidden" oil right beneath our very own feet) if it could be done, it would have been done. If you need proof that it is not economically viable, just go talk to the people in Parachute, CO after Exxon pulled the plug overnight back in the early 80's. (For the record, I used to work for an oil and gas database company, NRG Associates, which is headed by one of the foremost experts on oil exploration and production in the world).

Now the reason I care about this topic is because misinformation, conspiracy theories and magical thinking are not going to get us out of the mess were in. The only way out for this country is to combine every resource and conservation measure possible, including but far from being limited to domestic exploration and drilling. Otherwise, we will continue to pour money into Russian and Middle Eastern bank accounts, part of which gets turned right around and is used against our interests. Every time you gas up you're funding a madrassah in Pakistan.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/15/2009 at 12:13
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I just copied the aerticle that was sent to me by a friend, sorry I don't know the source, thats why I was asking if otrhers heard the same thing.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/15/2009 at 18:48
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Parachute, Colorado is sitting right at the edge of the field that covers a big portion of Colorado and Utah and Wyoming that has got the oilshale underfoot.  They are trying to develope a system of drilling, heating, and melting the stuff and bringing the oil up the hole all in one operation.  It ain't cheap.  But having that much oil is an embarrassment to the eco-nuts who claim that we don't have any oil. That the oil companies are just making it all up. Etc, etc, etc........... 
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/15/2009 at 19:44
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 I personally think our time would be better spent trying to find a way to extract oil from Liberal Democrats...
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/15/2009 at 20:11
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Originally posted by RONK RONK wrote:

 I personally think our time would be better spent trying to find a way to extract oil from Liberal Democrats...


Laugh good one ron!
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/16/2009 at 00:28
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Originally posted by Ed Connelly Ed Connelly wrote:

Parachute, Colorado is sitting right at the edge of the field that covers a big portion of Colorado and Utah and Wyoming that has got the oilshale underfoot.  They are trying to develope a system of drilling, heating, and melting the stuff and bringing the oil up the hole all in one operation.  It ain't cheap.  But having that much oil is an embarrassment to the eco-nuts who claim that we don't have any oil. That the oil companies are just making it all up. Etc, etc, etc........... 


It's all about ease of extraction and production, not just how much is in the ground. There's a lot of heavy oil in Venezuela (1.2 TRILLION barrels) but it's very hard to produce. (Thank God, or that nutcase Chavez would be even worse). Unconventional reserves (heavy oil, tar sands and oil shale) remind me of the theory vs. reality joke. You know: "Well... theoretically, we're sitting on 2 million dollars, realistically, we're living with a couple of whores."

What's neat about the opening of the Bakken formation in the Williston Basin is that a petroleum geologist in Billings, MT hit upon combining horizontal drilling with fracturing. That opened up some impressive production (for which we Montanans are certainly greatful) and the technique has since been used elsewhere. But in no way are we (to paraphrase Walter in The Big Lebowski) able to say, "Our !@#&*% troubles are over, Dude!" Here's a link about both the Bakken and the oil shale formations that may shed some light on the 500 kajillion-mega-billion barrel story's origins: http://www.snopes.com/politics/gasoline/bakken.asp

In the end, we can't get around the fact that there are simply not enough domestic reserves that are left that can produced for as little as our mostly non-friendly suppliers can overseas. Someday the prices will be so high that oil shale will be viable but then our use of oil as we still know it today will be a thing of the past. $6.00/gal. changes attitudes fast. So you can blame eco-nuts all you want but there's no getting around the fact that we all have to figure out better ways to do more with less energy. You will never drive your '66 Mustang again for 66 cents a gallon. It makes high-end optics seem like a less expensive hobby now doesn't it? Especially if you get out and tote that rifle on foot.


Edited by jonoMT - July/16/2009 at 00:32
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Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/16/2009 at 06:31
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The "Peak Oil" thing came out in 1956 during the gas wars when you could buy a gallon of gas for under 20 cents. We were going to run out of oil world wide by 1980.  It was put out and promoted by the oil companies not any group.
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Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/16/2009 at 09:34
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Ed, I'm not disputing that oil shale is there and could potentially be a major source of production. My point is that it will darn well never likely happen for production costs as low as $30/bbl. (Production costs are not the same as market price). Meanwhile, the Saudis, etc. will keep pumping 'til they run dry at a production cost of $10-20 bbl. So even though a company might make money (as long as you can sell for more than it costs, right?) spot prices will have to rise considerably to really make it profitable.

Duce, Peak Oil as a concept has been around for a long time and we haven't hit it yet. Maybe never will. What's for sure, however, is that most of the easy, big production is already gone or at least has been discovered. There may be 1-4 super giant fields left to discover, but that's about it. Otherwise, we'll have to ring every drop out of every stripper well on Ma and Pa's back 40 and all we can get out of oil sands, etc.

In the end, we will NOT find a big pile of cash under the mattress that we never knew we had.
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The oil companies pushed the peak oil thing to try to raise prices back in the gas war days, and they are again at times. About the time of the first gulf war the cost of bringing a barrel of oil to the surface in Iraq was about fifty cents and about a dollar in Saudi Arabia. Course like everything else it has gone up. When the price gets high enough we will go after the oil in the shale and in Alaska but the cost of production and transport are prohibitive now.
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Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/16/2009 at 17:51
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I was getting a little confused as to whether or not you agreed with the fact that the oil shale exists.  Yes, cost is the big factor, naturally.  HOWEVER..........seeing as how world events are unfolding as they are, internationally, it is totally naive and downright stupid for the Feds to pull the plug on the test wells in the Battlement Mesa area of Colorado last year ( what was that Senator from Colorado's name----was it Chavez??!!! ). That leaves the world at the mercy of OPEC...[ Canada, incidentally is carrying on with oil shale in Alberta....] 
 
We need the oil.  We need the Independence.  And we have a fool in the White House.....or is he??? 
  
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: July/17/2009 at 05:48
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Canada has oil in sands in Alberta, the oil companies pulled the plug in Colorado when the price dropped. Corporations exist to make money not lose it, they are not going to spend any more then they have to for crude. When the price go high enough they will go after the shale oil.
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Seven billion barrels of oil have been taken out of Kansas since the oil fields started here about the time of WW I . The present estimate there is another five  still underground in Kansas it is just the problem of getting it, most of the wells are drippers now.
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