oil

[NumeroUno]

To: Subject: Oil


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

Am I to believe that a few "tree huggers" are putting our Nation at risk and we are not doing anything about it. Make an agreement with Canada and build the wells there and let the "tree huggers" have their trees which they will be using to heat their houses.

I can't believe this. There has to be more to it.
___________________________________

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.

http://www.usgs.gov/newsroom/article.asp?ID=1911

[BAM2]

Hey Uno,
I've been an operator for a refinery for the past 18years. And yes it's true.
We've known ( I've heard) of these resources for the past couple of years....Amazing isn't it..

From tater grips to oil..... Guess you saw the second one last night, but the third ones came out the best.
Thanks again...

[blackwidow]

Stansberry is an investment newsletter trying to sell subscriptions.

The email’s implication that politicians, environmentalists and the media are preventing oil drilling in the Bakken is decidedly false. The Bakken has already seen drilling and was a principal cause of the recent increase in U.S. proven oil reserves, according to the EIA.

A number of publicly traded oil and gas companies have drilling rigs in the Bakken region, with varying asset prices, risks and potentials. These include Abraxas Petroleum Corporation, EOG Resources Inc., Continental Resources Inc., Whiting Oil & Gas Inc.,Marathon Oil Corporation, Brigham Exploration,Hess Corporation and Samson Oil and Gas Ltd. A niche fund, the Williston Basin/Mid-North America Stock Fund (ICPAX)invests in the publicly traded companies that are profiting from this massive oil find. Brigham Exploration Company (BEXP) has recently drilled into the Sanish/Three Forks Formation located below the Bakken Shale Formation.

There is a ton of reliable information on this subject. One only need to do a search of Bakken oil reserves to know that the only thing preventing the extraction of the reserves in the Bakken region was the technology to get at it. That technology has improved in recent years.


Sources:
http://www.snopes.com/politics/gasoline/bakken.asp
http://www.factcheck.org/2009/03/us-off ... -reserves/
http://www.theoildrum.com/node/3868
http://www.chron.com/disp/story.mpl/edi ... 80721.html
http://www.stansberryresearch.com/
http://www.eia.doe.gov/pub/oil_gas/natu ... gshock.pdf

Peace

[hit4power]

Blackwidow nailed it pretty well....

Speaking as an oil & gas industry insider...

It is true that there is a lot of oil in the Bakken and the article is accurate in that the big question is how much is recoverable, by what methods, and at what prices. It's also true that the current administration is not as helpful or supportive as one might wish for and that the enviro groups can be a pain. But, the reality is that the Bakken, by itself, will not free the US from the need to import foreign oil. The 503 billion barrel number is at the very upper end of estimates of how much oil is in the ground. Estimates of how much can ultimately be produced vary widely, but you won’t find anyone inside the business that thinks the answer is 10% of 503billion barrels – at least not with today’s technology and at today’s prices. Another point to ponder is that a good Bakken oil well, drilled and completed with the latest technology will start producing at maybe 2000 barrels per day, but will decline quickly (few months) to rate of a couple hundred barrels per day after which it will produce (we hope) steadily for a long time. You can do the math as to how many Bakken wells it would take at 1-200 barrels per day to replace 9.7 million barrels per day of imported oil. Meanwhile, as we drill those 10’s of thousands of Bakken wells, production from our existing fields elsewhere continues to decline, meaning that the gap we are trying to close gets bigger, meaning more new wells needed, etc etc and there just isn’t any way to close the import gap with realistic levels of rigs and capital investment. All that said, even though the Bakken can’t close the gap, its production will help us from having to import even more foreign oil, and it is providing badly needed domestic jobs, and revenue to both the state and federal governments. I, personally, will never understand why Obama/Emanuel, etc continue to pound on an industry that can grow, provide high paying jobs with fantastic benefits, and help out governments at all levels. Instead, they seem to want to champion more and more people becoming low paid installers of Chinese made wind turbines….

As to the two trillion barrels mentioned in the Rockies, most of that is trapped in oil shales in Utah and Colorado. There is testing ongoing trying to figure out how to extract it from the shale (it doesn’t just flow out by itself) with some method that is both economic at today’s prices and that can be upscaled to a meaningful level. And while it is true that environmental concerns have been raised (and grossly exaggerated), the real roadblock, right now, is finding a way to do it that makes economic sense at current prices.