All The Oil In The World
I wonder if this will ever see the light of day, and if so, what Al Gore and the left would have to say about it?
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.
Imagine the hostile oil-producing nations we could give the finger to….
‘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 41 years straight.
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.See: US Geological Survey: 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
If true, especially after the last summer of headache, there are many people who need be impeached for their obstruction of what is clearly a national security-energy independence dropped ball.
h/t Dan
January 25th, 2009 at 7:47 pm
I wonder how much money Greenpeace gets from carefully laundered Saudi sources.
January 25th, 2009 at 9:52 pm
That is such a depressing article, knowing that we could tell OPEC to shove it and yet we will continue to kill ourselves instead is just liberal lunacy. When did common sense commit suicide?
January 25th, 2009 at 11:48 pm
Peak oil is just a slobbering heap of snake oil hooey.
If you think this “highly” of our Goracle and his Greeniks because of 3-4 billion barrels, try adding to that the 90 billion barrels of undiscovered technically recoverable oil, 1,670 trillion cubic feet of natural gas and 44 billion barrels of natural gas liquids, all technically recoverable, all north of the Arctic Circle, as reported by the USGS in July 2008.
http://www.usgs.gov/newsroom/article.asp?ID=1980&from=rss_home
Even at just 10%, it’s still 9 billion barrels. And unlike the “Bakken” find, this is offshore drilling between US, Canada, Russia, Greenland, Iceland, Sweden, Finland, and Norway, but it still beats the pants off the ME, and presidente-for-life-wannabe Chavez! International borders in the Arctic are being hotly debated, and Greenland voted for nationhood in 2008. Duh. But the race is definitely on.
Unfortunately, the only nation with the balls and political freedom to ignore the Greeniks … is Russia. In fact, they were first to plant a submariner flag at an unprecedented 2.5 miles under the North Pole to “symbolically” assert its borders ahead of diplomatic relations, all while we were all busy crying over baby seals with Paul McCartney and his has-been squeeze, peg-leg Heather Mills
Russia Plants Underwater Flag, Claims Arctic Seafloor
http://news.nationalgeographic.com/news/2007/08/070802-russia-pole.html
The 90 billion barrels story did make headlines but the MSM quashed it within days by never following up or editorializing it.
And no, we can’t touch it. We can’t even aggressively explore development because the Greeniks insist we’ll be killing Bambi, Nemo, Ariel, Flipper, Willy, Smoky the Bear, and the Coca-Cola polar bears, to get it.
What they fail to conceive though is that the species closing in on extinction at an exponential rate is the voraciously territorial, amphibious, mammalian, bipedal parasite commonly known as Goraculis Greenicus, who will soon be sucking on Russian cigars whether they like it or not, if the Russians develop the Arctic first. PETA better start protesting a few Russian nuclear subs if they really want to save Knut’s family.
The beauty of the Arctic find? Sarah-cuda! Or do the Libs seriously think any of this will be negotiated without Alaska at the table. Let’s hope the ‘Cuda includes a “in-depth” tour of that turkey farm when that toad Waxman comes a-calling.
Both finds will require a minimum 5-10 years development to be fully producing. The sooner we start the more common these headlines become:
HUMILIATION: Chavez reopens oil bids to West as prices plunge
http://www.iht.com/articles/2009/01/15/america/15venez.php
Just imagine. The Saudis, I’m a Dinner Jacket, the Iraqis all BEGGING us to take their oil for fear of facing economic and social collapse.
Peak oil is the biggest hoodwink perpetrated on the Western world by the Liberal world.
Drill, baby. Drill!
Kudos for airing this, Bob. Keep it on the front burner, especially when the price of oil starts to rise again, or if Chavez starts blustering on about “banding” oil prices again.
http://www.thestreet.com/story/10450035/1/venezuelas-chavez-eyes-oil-price-band.html?puc=_tscrss
January 26th, 2009 at 1:10 am
I’ll apologize in advance because I know the 3 Fuckwits in Congress from North Dakota (Conrad, Dorgan and Pomeroy) will do anything and everything in their power to make sure this is never taken advantage of.
January 26th, 2009 at 2:01 am
While I do say we should put forth the effort of utilizing this discovery, I still say we need to open the market to not only new fuel sources, but more fuel efficient vehicles.
January 26th, 2009 at 7:55 am
Wow, Kushin. I had no idea that the government was prohibiting the development of more fuel efficient vehicles. Last I knew, we just sank $25 billion to help fund their development. Did you alert the guys at Fisker Auto or Tesla Motors that they’re engaged in illegal activity?
January 26th, 2009 at 9:32 am
[...] Bob Parks breaks it down for us: 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. [...]
January 26th, 2009 at 1:15 pm
dmarsh – I am for a truly open and free voluntary market. It is known that the government has placed stop brakes on oil exploration and on new refineries. It is also known that as long as there is not an open field for new competitors that any development towards more fuel efficient cars will be slow and the prices of said vehicles will be to costly for most to get right away. The government plays its role there in that case.
I know I might harp a lot on the government issue, but I never mentioned government in my above statement, just that we had open competition and true competition at that.
I want all the cost to be on the producers and that every last cent they earn from their gambles to be theirs to decide on what to do with. I want them to not be bailed out for bad decisions.
And as far I am concerned the only illegal activities are those that violate individual rights. Biggest offender, despite whatever you may say about the benefits, is and always has been government.