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Did anyone on here know about this..........

I've thought for years that the environmentalists were trying to destroy American industry. This only confirms my belief.

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:

http://bakkenshale.net/bakkenshalemap.html

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 ast -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.

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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!!

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

Discuss [Y]
 

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Being cynical where these things are concerned, I'd say the US are using a long term strategy of 'using up everyone else's (cheap) reserves first', which will leave them with all the oil when everyone else is dry. (I use a similar gambit when playing strategy games on the PC)

A bit like the UK and the coal industry - as I understand it the pits didn't mine out it just became cheaper to get it elsewhere. And when the coal runs out from overseas, here we are with pits that can be reopened.

IIRC doesn't the US also have huge reserves of oil shale?
 

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It not all it seems I'm afraid. The text posted states that

"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."

Whereas the USGS link at the end states

"Reston, VA - North Dakota and Montana have an estimated 3.0 to 4.3
billion barrels of undiscovered, technically recoverable oil in an area
known as the Bakken Formation."

Some difference in the figures there, and the USGS is the latest survey and estimate. So taking a mean figure of 3.0 - 4.0 billion barrels we're left with 3.5 billion barrels. Every day the US imports 10 million barrels of foreign oil, which is 3.65 billion barrels per year. So the Bakken field has a years supply of oil for the US.

Further interesting reading here. I'm afraid it's another internet rumour, albeit based on some truth in parts.
 
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