Oil price's this will blow your mind

Bruno

Veteran Expediter
Fleet Owner
US Marines
Here's an interesting 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:
Bakken Shale Map - Maps of Bakken Shale Oil Formation Field

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.

USGS Release: 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— (4/10/2008 2:25:36 PM) <; " target=_blankhttp://www.usgs.gov/newsroom/article.asp?ID=1911>; ;
<USGS Release: 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— (4/10/2008 2:25:36 PM) <http://www.usgs.gov/newsroom/article.asp?ID=1911> >
 

Oilerman1957

Expert Expediter
I heard somewhere awhile ago that we knew of our reserves but the thinking was : why use our at these prices when we can use theres and save ours for the future, just a thought, dont really know if thats true or not
 

letzrockexpress

Veteran Expediter
I saw the Governor of Wyoming, a geologist, on some program last year talking about this shale field and all the available oil it contains. he also explained that until oil exceeds 150.00 per barrel, it is not cost effective to extract it.
 

layoutshooter

Veteran Expediter
Retired Expediter
I saw the Governor of Wyoming, a geologist, on some program last year talking about this shale field and all the available oil it contains. he also explained that until oil exceeds 150.00 per barrel, it is not cost effective to extract it.


It is cost effective to make fuel out of coal at $60 per barrel and we have plenty of coal. It is a proven means of making diesel.
 

chefdennis

Veteran Expediter
Yea we can't get it...BS...The Bakken field extends into Canada and they have been "Horizonially" drilling into the shale since about 2007 and getting to the oil....
 

EASYTRADER

Expert Expediter
If you drill 40k feet anywhere in the world you'll find oil. The russians have been doing it for years now.

Granted it ain't exactly easy to drill 40k feet. And the russians aint sharinh the know how.


The problem we have with oil is not that there is ashortage of it anywhere. but that their is a shortage of people who have the expertiece to bring it up. According to Boon Pickens, should the economy pick back uo we'll run onto a jam because, we don't have the capacity to drill new wells and replace old well as fast as we burn the oil.
 

gsmacker

Seasoned Expediter
Why go drilling for oil??? Look at all the oil in the Gulf, all we gotta do is figure out how to get it outta the water and beaches. Shale oil and oil sand arent that expensive to retrieve its the cost extracting the oil and refining the oil into the fuels we use. Ever wonder how the price of crude oil and fuel at the pumps are not related?? Its all about supply and demand and the refineries are the bottle necks. Anyone ever price oil well drilling equipment?? Lol ya dont even wanna look at the price for permits and the bonds needed.......I'm just sayin
 

sparkle8859

Seasoned Expediter
thats all well and good but even if we did drill it wouldent be 16$ a barrell.With this spill I have learned that any oil a company pulls up is the companys. take B.P for instince.If they had actually gotten the oil out, then they would pay a small amount per barrel to the U.S plus the cost of the lease.Then they put it on the market and sell it back to us at an incresed rate. China on the outher hand has found oil off there cost,B.P. is drilling for it but China keeps 51% of the proffet. I understnd China is a communist country,but if americans are the ones working the rigs, its our land and were killing our people and enviorment shouldent we get more for it?
 

greg334

Veteran Expediter
Well one of the biggest lies that we have to face is this; "We need to cut our dependence of foreign oil"

See the oil system doesn't work as people think. We buy and sell oil in the international market, there is no US market where we can only depend on US based black gold.

When the oil companies drill, it isn't that they will use that oil but maybe trade it off for oil they can refine. If you look at the breakdown of crude oil types and see specifically what we import opposed to what we export, it will paint a clear picture of how it works. For example, our refineries may use Brent blend or north sea crude because of our need for low sulfur fuels but will export West Texas Sour because of the high sulfur content. We export a lot of the Alaskan crude because of that reason higher than what our refineries can handle. A lot of it is refined in Japan and China and we buy the resulting product to sell here or trade somewhere else.
 
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