Just wondering why we are still buying Arab oil??





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 questi...on 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," 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 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?



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

Might be because American Oil Co's have such a huge investment in the Middle East oil fields.

And the libs/nature Nazis won't allow/severly restrict drilling and refining in the US.

I guess when gas hits 5.00 a gal and the economy tanks again they might think otherwise. No what was I thinking!

http://www.nytimes.com/2011/02/01/business/01oil.html?partner=yahoofinance

If you get the Areva ad click skip this in the right hand corner



Might be some clues here, I was scratching my head on why we would need a salmon killing LNG terminal in the Columbia when we have very abundant NG supplys in the US. Of course a little termoil in the mideast is a great way to raise prices for the peon's.

I have clients hauling oil in NoDak. Production will increase greatly.

One very good reason to get our oil from elsewhere is to avoid what happened to Japan before WW2. They were cut off from their supplies because they had no oil production. If the US uses other folks' oil, and bad stuff happens, we'll still have plenty of oil.

There are a bajillion other reason, but this is one good reason to crap in other people's back yards before we start crapping in ours.

Times two hundred billion.

Fish on...

Todd

From your USGS link:
3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation

A little short of 500 billion barrels. There's also more on snopes.com
http://www.snopes.com/politics/gasoline/bakken.asp

Check your facts. Don't believe everything you get in a chain email....
Most of what you just posted is BS. Sorry to burst your bubble.

US has never been considered oil rich. Don't think for one minute that we have trillions of barrels sitting underneath us. Estimates put United State oil reserves at around 18 billion barrels. Consider that we use almost 20 million barrels of oil PER DAY, and we import roughly 3/4's of this... 20 mil x 365 days = 7.3 billion barrels per year used in US alone. 18 bil estimated reserves /7.3 tril barrels consumer per year in the US = roughly 2.5 years of oil in the US now @ current consumption rates. Not much at all. You can now understand why we import oil, cause we sure ain't gonna drill enough in the US to provide our demand...

Not much oil at all. There aren't trillions of barrels left anywhere. We have about 2% of the global oil reserves left...
Here's a good link for you...
http://gcaptain.com/wp-content/uploads/2007/09/who-has-the-oil.jpg

If you consider what we could produce if we did try and ramp up domestic drilling, our production would equal roughly 1-2% of the worlds daily demand. Hardly going to effect prices...Drop in the bucket. Although the fact that we spend > $700 trillion on oil per year, and 3/4ths of this is going to other countries does make you stop and think of the economic opportunities that we are missing...

You want gas prices lower? Decrease demand. The issue isn't the supply or where we are getting our oil, it's our excessive consumption..

I still think importing everyone elses oil isn't a terrible idea. Let the deal with the environmental consequences, and when they dry up, we have a backup supply ourselves...

The dude with the knucklebuster is pretty wise.

Not pointing any fingers (hey, I'm guilty too), but everyone here is doing their part to confirm our country's dependence on petroleum and our lack of will to find sustainable alternatives. We walk on a slippery slope (excuse the pun, which I only noticed after the fact) when we claim to support conservation of fish and wildlife and then seek to escalate crude oil production in the same breath. The reserve argument makes sense, but allowing other countries to deal with the environmental impacts is not a responsible (or entirely valid) justification for continuing to import oil. It doesn't matter where it comes from; oil from spills get carried around the world by ocean currents, and the atmosphere is polluted when we burn it. It affects the whole planet, regardless of where it is produced.

Despite the fact that I do my fair share of driving (thereby contributing to the status quo), I firmly believe the next "New Deal" needs to be centered around developing clean, sustainable energy and effective mass transit. As long as big oil maintains its stranglehold (or before we run out of oil - 2% of the former reserves probably won't last forever), there's little chance of that happening.

Buying and using other nations' oil instead of using our own may not be "nice," but it's hella' good strategy. Possibly one of the few sensible international interventionist actions the U.S. does.

Sg

Flea and knuckle buster have very good points. We have to look at ourselves as part of the problem. I drive a f-150 all over the place a bicth about gas prices, very counter productive. less demand = lower prices at the pump.

Fleaflicker, thanks for the stranglehold comment......now I have fu.king Ted Nugeant playing in my head! Damn you!

Better than "Cat Scratch Fever," but sorry just the same.

Why? They're already here.

Cause the two countries that we import the most oil from are Canada and Mexico

When they are all out we will have it all,greed.Mean why'll let's spend all our money and go broke.Good luck,
SZ