Doubleclutch
New member
James,
The Bakken field has been known for many years. The reason it was not producing earlier was the cost of lifting this type of crude was very, very expensive. With the price of crude at, or over, $100 bbl it is now profitable to produce. This is the same type of deal as was the shale oil. It is there but the cost of bringing it out of the ground is expensive.
This is not a new find, just one that is now profitable.
Cost now is more like $60-80 per barrel instead of $16 per barrel.
T
(a frind of mine that is an oil producer in NM)
Apparently the USA has an untapped source of oil!
Ever heard of the Bakken Formation?
GOOGLE it or follow this link. It will blow your mind.
http://www.usgs.gov/newsroom/article.asp?ID=1911
The U.S. Geological Service issued a report in April ('08) that only
scientists and oilmen 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 ha s 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 41 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, people!]
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 is more than 2 TRILLION
barrels. On August 8, 2005 President Bush mandated its extraction.
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 democrats,
environmentalists and left wing republicans have blocked all efforts to help
America become independent of foreign oil.
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.
Got your attention/ire up yet? Hope so! Now, while you're thinking about
it ..... and hopefully P.O'd, do this:
3. Take 10 minutes and compose an e-mail; fax or good old-fashioned letter
to all your friends and associates. Alert them to the fact that democrats
and 'liberal' republicans have been and will continue to obstruct all plans
to make America independent of foreign oil.
The Bakken field has been known for many years. The reason it was not producing earlier was the cost of lifting this type of crude was very, very expensive. With the price of crude at, or over, $100 bbl it is now profitable to produce. This is the same type of deal as was the shale oil. It is there but the cost of bringing it out of the ground is expensive.
This is not a new find, just one that is now profitable.
Cost now is more like $60-80 per barrel instead of $16 per barrel.
T
(a frind of mine that is an oil producer in NM)
Apparently the USA has an untapped source of oil!
Ever heard of the Bakken Formation?
GOOGLE it or follow this link. It will blow your mind.
http://www.usgs.gov/newsroom/article.asp?ID=1911
The U.S. Geological Service issued a report in April ('08) that only
scientists and oilmen 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 ha s 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 41 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, people!]
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 is more than 2 TRILLION
barrels. On August 8, 2005 President Bush mandated its extraction.
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 democrats,
environmentalists and left wing republicans have blocked all efforts to help
America become independent of foreign oil.
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.
Got your attention/ire up yet? Hope so! Now, while you're thinking about
it ..... and hopefully P.O'd, do this:
3. Take 10 minutes and compose an e-mail; fax or good old-fashioned letter
to all your friends and associates. Alert them to the fact that democrats
and 'liberal' republicans have been and will continue to obstruct all plans
to make America independent of foreign oil.
