So what is your opinion on this? I got this in an E-Mail.


Here's an astonishing 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:


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," reportsThe 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 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 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.


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!!!
GOOGLE it, or follow this link. It will blow your mind.
USGS Release: 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— (4/10/2008 2:25:36 PM) "

 

This is actually pretty old news. Tha fact that there is more oil in the US than the entire Middle East is only part of the problem. We do not have the infrastructure built to extract the oil and get it to the market. Also, the oil market is a global one... this means that oil goes ito a global market for the highest bidder to purchase. I've been saying for months that the quickest way to get oil prices down is to make OPEC believe we are about to start drilling for our own. If we opened up all the off shore drilling and began building the infrastructure to get our own oil, they would drop the price overnight, making it too expensive for the oil companies to continue and they (big oil) would continue to buy form OPEC. I agree, though, that we should be getting our own oil form our own reserves and decreasing our dependence on foreign oil. I hate that we buy oil from countries that don't like us much. They sure do like our money, though!

 

It's just stupid that we don't go after it. It's not like we don't need the money.

 

I don`t doubt what you say. However virtually all the areas mentioned are wholly owned by the US Government. The Government has much easier ways to get money than drilling for oil.
Besides the vast majority of oil imported into the US comes from Mexico and Canada. US dollars are a great help to both. And it is never lost what a friend gets.

 

Subscribing.

 

Glad yer here Dan

This may be old information but it's the first I have heard of it.

But than I live in the bush with no TV and don't get out much.

 

i got an idea . let's fire all the da%^ politicians , as all of them are buttmunches only after power , money and 16 year old pages , including that thing some elected into the big office . then let's remind those who replace them if the government "owns" it then the people of this country do . let's drill for it bring some much needed relief to the people of this country , not too mention economic recovery it just might spark , and if they don't get it then maybe it's time for another revolution , only instead of against the queen { well i guess that could be up in the air considering some of the fruit loops in office and i'm not just referring to what you may think but all the freaks and weirdo's in disguise therein } of england it'll be there ***** on the line this time ...... with the technology available today it can be done without destroying or just barely disturbing the environment around it , and like i said it would sure help ..............

 

Revolution?

I'm in.

Where do I sign up?

If we can't fire them than what else is there?

 

I must say that it sucks to pay the price that pay right now. But, I think it's smart to go after the other people's oil first and then we control the market.

The fact that we are not even trying to extract the oil is plain stupid. That extraction alone would force prices down.

 

There is enough fuel there alone to last us 2041 years or so. By than we will be using something completely different.

So ya go get it now. Get us out of debt. And make some jobs.

If Yellowstone blows we loose it all. It's not like there hasn't been a rash of earth quakes and volcano's lately.

It will happen when we least expect it. Like Japan.

Get it now while we can.

Ya I know that if Yellowstone was to blow it would wipe out a big chunk of North America.

But they that are left would have fuel.

 

I think that authorless email was not very well thought out. It makes it's justification with $107/bbl oil but ends by saying it will only cost $16/bbl to produce. Well enjoy that fantasy, because that's all that it is. Exxon is not Wal-Mart. The only reason an oil company would consider exploration and production would be to sell it for $107/bbl. And only if that price was projected to be sustained and could justify the cost of developing the field.

BTW, let's keep our politics out of this. This is not the club.

 

The report says that it is technically available, but that means also that while some is able to be gotten to some of it might be very expensive to do so. Also why would a oil company develop the fields when they can sit on it and do the easy fields and sell it on the open market for top dollar? Sure they could go whole hog with it, but then the price of oil would drop at least for a while, but then the oil companies would be selling it for a lot less than if they sat on it. Unless it is done under the license of the US gov it is owned by the oil company and they are going to want the best price for it.

 

I'm pretty much the only one that believes this , but I think the Earth is producing oil as we speak .. The , we're running out of crude has been going on for too many years (since the 70's )Once the price was adjusted for greed, we had plenty , (for a while) Think about it ,, "fossil fuels"? Conveniently located in "pools "below the Earth surface ...

Oil producers try to scare us by saying they are only replacing 95 % of the oil used(cause that's all their is ), what better thing to say to scare everyone into believing the BS ... If that were really the case & we were at the end of the supply , the price would most likely be $20.00 a gallon(or more ) for gas ...................BS ....

 

The simple truth is we don't even have to extract it. They can and will pump it cheaper in the middle east. If it cost us, let's just throw out a fictitious number of $85 to find and pump our own oil, they will pump enough to get prices down to $80 per barrel. We just need to remove the boundries to exploration and drilling so it remains an open option and crude prices will drop like a rock.

But if it's all the politicians that are behind this, it's not really a political debate. Both the Democrats and Republicans have gotten us in this situation and even blocked drilling.

 

Okay Chris. But not everyone takes quite such a bipartisan view as yourself.