Topic: oil in America $19 a barrel!!...

[86toyota]

  this is an email my mom sent me. pretty amazing and i hope it happens 

Subject: OIL - you better sit down.    OIL - you better sit down. If the Federal Government would allow this field to be put into full production the price of gasoline would drop to less than $2.00 per gallon almost over night. Here's an interesting read, important and verifiable information : About 6 months ago, the writer was watching a news program on oil andone of the Forbes Bros. was the guest. The host said to Forbes, "I am going toask you a direct question and I would like a direct answer; how much oildoes the U.S. have in the ground?" Forbes did not miss a beat, he said, "morethan all the Middle East put together." Please read below. The U. S. Geological Service issued a report in April 2008 that onlyscientists and oil men knew was coming, but man was it big. It was arevised report (hadn't been updated since 1995) on how much oil was inthis 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 PrudhoeBay, and has the potential to eliminate all American dependence on foreignoil. The Energy Information Administration (EIA) estimates it at 503 billionbarrels. 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 seetheir jaws hit the floor. They had no idea.." says Terry Johnson, the MontanaLegislature's financial analyst. "This sizable find is now the highest-producing onshore oil field foundin the past 56 years," reports The Pittsburgh Post Gazette. It's aformation known as the Williston Basin, but is more commonly referred to as the'Bakken.' It stretches from Northern Montana, through North Dakota andinto Canada.. For years, U. S. oil exploration has been considered a deadend. Even the 'Big Oil' companies gave up searching for major oil wellsdecades ago. However, a recent technological breakthrough has opened upthe Bakken's massive reserves.... and we now have access of up to 500billion barrels. And because this is light, sweet oil, those billions of barrelswill cost Americans just $16 PER BARREL! That's enough crude to fully fuel the American economy for 2041 yearsstraight. And if THAT didn't throw you on the floor, then this next oneshould - 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 thelargest untapped oil reserve in the world. It is more than 2 TRILLIONbarrels. On August 8, 2005 President Bush mandated its extraction. Inthree and a half years of high oil prices none has been extracted. With thismotherload 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 theenvironmentalists and others have blocked all efforts to help Americabecome independent of foreign oil! Again, we are letting a small group ofpeople dictate our lives and our economy.....WHY? James Bartis, lead researcher with the study says we've got more oil inthis very compact area than the entire Middle East -more than 2 TRILLIONbarrels untapped. That's more than all the proven oil reserves of crude oil inthe world today, reports The Denver Post. Don't think 'OPEC' will drop its price - even with this find? Thinkagain!It's all about the competitive marketplace, - it has to. Think OPEC justmight 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 youshould stifle yourself the next time you complain about gas prices - bydoing NOTHING, you forfeit your right to complain. -------- Now I just wonder what would happen in this country if every one of yousent this to every one in your address book. By the way...this is all true. Check it out at the link below!!! GOOGLE it . It will blow your mind.

[Stocker]

Being skeptical by nature, I am a bit skeptical. The oil is probably there, possibly as much as the email claims. There are just a few minor issues. In no particular order...

Shale oil is expensive to process, and you tear up a lot of real estate to get it (which equates to environmental problems, whether anyone wants to admit it or not).

Oil is energy, and energy is a global commodity. Shortages will cause price increases, but additional supply is not likely to cause huge price drops. More likely, extra supplies will help stabilize prices. Your title mentions $19/bbl, and the article mentions $16/bbl and $107/bbl. I believe it will pretty much track global prices.

Developing nations with much larger populations than the US are just beginning to build their infrastructures. There is a huge market for cars which is just beginning to be tapped. Everyone will want & need more oil in the years to come.

Nobody in control will want to flood the market with cheap fuel. There is more profit in supplying an adequate steady flow of product.

I believe the USA may have an unofficial, unspoken policy of using up the rest of the world's oil first. When it is gone, we will still have untapped reserves within our borders.

[86toyota [OP]]

i agree with you. the main thing in the way is invironmentalists as the email says.

[Toymin8r]

This isn't really new information.  It doesn't matter how much oil is available in the ground.  Even if we started tapping in to all of the oil we know of in and around the US we still don't have the ability to refine any more than we do now.  The EPA hasn't allowed a new refinery to be built in the US in over 30 years and there is no way its gonna happen under the currrent head of the EPA, who was appointed by the president.  

Also, the regulations as they are now would not allow the extraction of any oil in the manner in which it need to be extracted.   Think about it.  They are refusing to allow oil companies to drill in Alaska's Anwar which is mosty a sparsley uninhapited portion of the state due to the sever cold.  If they won't allow this do you really think they are going to allow drilling in the largest national park in the country?

There are also other political issues that most up us sheeple aren't aware of yet.   The US can't or won't even drill offshore in the gulf but Cuba is contracting with Venezuela, China and Russia to drill in the same gulf less than 90 miles from our shores.  I'd love to hear a valid explaination from our government on that one.

[86toyota [OP]]

ok thats another thing holding it back...the president. but he is holding ALOT of stuff back
its still really intersting tho

[wildhorse1966]

intresting read ...

[Rocksurfer]

http://www.snopes.com/politics/gasoline/bakken.asp

Well don't believe everything you get in an email or from the internet be it even snopes. Who knows what reality is anymore and what is trash. I do believe that the US government is holding out as stated previously here so that when we suck the deserts of the middle east dry we will still have a sweet little secret to drill.

[junya92toy]

military thing, burn off the other countries oil. So we have a reserve and can still keep a our ships, planes, tanks, etc mobile.

[Stocker]

military thing, burn off the other countries oil. So we have a reserve and can still keep a our ships, planes, tanks, etc mobile.

Even if that were possible, I don't see the benefit...   

1) Oil is a finite resource; when it's gone, it's gone.
2) We need it, now and for the foreseeable future.
3) We import most of what we use - why destroy our main source?

And such an act would certainly be more than enough justification for other nations to send us their nuclear warheads. 

[Trunkz]

in the last 15 years there have been 3 new oil reservoirs discovered, on us soil that held more (each successive in size) than we knew exsisted, and everytime it becomes a new national reserve or park

[Plekto]

Of course we hold back until the rest of the world is nearly out of cheap oil.  Then WE become OPEC in essence. 

[Stocker]

in the last 15 years there have been 3 new oil reservoirs discovered, on us soil that held more (each successive in size) than we knew exsisted, and everytime it becomes a new national reserve or park

I'm not questioning this statement, because I really do not know. Can you tell us (documentation would be great) which three new parks or reserves have been designated following the discovery of oil deposits?

I'm quite sure that oil deposits have also been discovered within the boundaries of existing reserves and/or parks... however, I couldn't say exactly where or when.

[86toyota [OP]]

if you read this tho they have new technology to find oil. and they are doing A LOT of drilling in easern montana right now. MORE than they have been doing in the past 5 years

[Trunkz]

ill have to get back to you on this this weekend when i have time to do the digging, i know clinton created 2 "preserves" and bush (2nd) did one

[junya92toy]

Even if that were possible, I don't see the benefit...   

1) Oil is a finite resource; when it's gone, it's gone.
2) We need it, now and for the foreseeable future.
3) We import most of what we use - why destroy our main source?

And such an act would certainly be more than enough justification for other nations to send us their nuclear warheads. 

You need to look up WW2 and the battle of staligrand. Its one of the major ways we beat the nazis. We starved their military for oil.

[Stocker]

Whatever. Let's just say that was a tactical strategy that worked in that particular situation. I'm assuming you have some basic knowledge of history. Mine is shaky at best, I thought the Russian winter (and the Russian Army) took care of the German Army in Russia.

If your info is more or less accurate, do you believe that a similar plan of action is correct for today? Why?

At any rate, wasn't this thread discussing the possibilities of lower oil prices due to discoveries of new deposits within the US -- and whether they could be utilized, and what their impacts might be on prices & availability?

[junya92toy]

Yes I do think so. Because if we are the only super power that can sail ships, fly planes and have tanks. We will come out ahead if the hits the fan.

[Stocker]

You say we should burn off everyone else's oil. There are more than a couple wellheads in the world, so it might take us more than a day or two. I suppose the rest of the world will sit on their thumbs while we get this small task accomplished.

Lacking more substance, I see no reason to continue this conversation. 

[Cheesemaker]

I think Canada must have been drunk.  They just sold off ConocoPhilips, their largest oil company to China.  And all it's wells and land it owns.  Talk about shooting yourself in the foot.