Peak Oil Lie? US Has Utterly Giant Oil Reserves
Saturday, February 28, 2009

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… 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 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! U. S. Oil Discovery - Largest Reserve In The World! Stansberry Report Online - 4-20-6 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/ire up yet? Hope so. Now, while you’re thinking about it …. and hopefully angry, do this: 3. Pass this along. If you don’t take a little time to do this, then you should stifle yourself the next time you want to complain about gas prices .. because by doing NOTHING, you’ve forfeited your right to complain. Want the hard data?

Go here… http://www.usgs.gov/newsroom/article.asp?ID=1911
http://www.rense.com/general85/peak.htm

It's been known for a few years now.
My question is, why isn't it being processed??

BLM and other federal restrictions, field rules, etc.

If the lease isn't available, drilling on it becomes a criminal enterprise bascially. It get complicated and petrolem land management issues are not my area of expertise. but my understanding is that there are areas of land that are not available to drill on per federal restrictions.

I can tell you that the Bakken is being developed but I'm not sure that it's exploited to its full potential. I suspect it's not.

Good news is that it will keep geologists and petroleum engineers busy for another several generations.

Are they going to stop invading countries for oil and resources now ?!.

eh, we need some reason to fight with other nations.. geez

before you can drill you have to actually own the mineral rights

and most of the time the mineral rights are owned by heirs of the original owners who arent even aware that they own it. and then there are the heirs of the heirs of the heirs

some times three or four hundred people own a share of the same property and if you don't buy all three or four hundred owners out, you're breaking the law

sometimes it takes quite awhile to get a new field up and running because of that

they do not want to harvest american oil reserves

to do so would strengthen the american economy

thus putting off the one world currency

whch is the precursor to a one world govt

What does it cost to get it out of the ground? Oil is not one cost to extract... The Saudis, for example, practically have a spigot. They turn on the valve and the oil starts flowing for less than $20 a barrel. Canada, on the other hand has some of the largest reserves in the world, but it's over three times as expensive to extract.

While the street value may be $5T plus, that does us no good if it's $80 a barrel to extract.

that is a common complaint I here around here. Between labor and machinery it's prohibitively expensive to drill unless the price of oil is around $80 a barrel

Our oil is about 80 % or so under land that is either reserved for nature or it is privately owned and the owners will not let them drill.

It gets really complicated and cannot be done as simply as said.

Lots of legalities and red tape involved.

Dad says it will probably never be drilled due to these above mentioned restrictions. He is a geologist, who was in the oil business himself for many years.

We would be better off to find other sources of energy and move away from oil as much as we can.

Wahington State has a huge oil puddle just off the coast--been sitting there for years.--can't get it out cuz it will kill all the fish in the world if they do. like all the dead fish in the gulf---all the fish are dead there ---Right---Best thing to do is stop voting for the same a$$ h---s time after time after time-ETC ETC ETC-------yada yada bla bla bla--- No private land out there that i know of????

problem is that solar and wind will never supply more than about 20% of our energy. there just isnt the acreage to support more than that. But it can help alleviate some of the demand

the technology for affordable alternative energy just doesnt exist yet. Electric cars are cool but the generation of the electricity to charge em uses as much energy as the petroleum based engines. And there are no electric motors or batteries that can power fully loaded 18-wheelers.

But in the meantime, we do have more natural gas in america than oil in the rest of the world. The first best thing we could do would be to transition all the 18-wheeler transports to natural gas

if thats the case---why do we buy so much natural gas from Canada??

same reason we buy lumber from Canada

it's cheap

wahigton State has more trees then just about any State there is --but we can't cut it because of a "Bird"

exactly

I have saw a show where they are taking oil from N Dakota where this post is talking about.
They are having a hard time getting people to move thier as the winters are harsh and the oil is not close to any towns.
Thier are towns right now springing up for the oil filds as per the show says anyone who wants to come up and work can make at least 100k per year.
They showed this 100k job washing trucks up thier for the oil companies. They did not say any thing about enviromentalists stopping oil from being drilled for.

It is strange though how most people do not know anything about these fields. Our news is not reporting on it at all. You would think this would be front page news.

Our politicians are being quite also.

WHY?

I know they do as as our govt. says even though they claim the oppisite.


Want to see how this has changed in the last 10 years on journalism go to this link.

http://video.google.com/videosearch?q=outfoxed&emb=0#


This may not seem on topic but see the video and you will see how we are led around by our noses. We are told how to think ect.

that's just completelt untrue. the fish in the gulf are not dead! there are plenty of fish in the gulf of mexico.

kill all the fish in the world! seriously, do you know what a kook you make yourself look like when you say that? get real!