King_County_Downy
shitfaced
+2,791|6567|Seattle

So I got one of those stupid emails.... but this looks .... interesting to say the least.

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,"  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 mark etplace, - 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.

    http://www.usgs.gov/newsroom/article.asp?ID=1911
Sober enough to know what I'm doing, drunk enough to really enjoy doing it
steelie34
pub hero!
+603|6351|the land of bourbon
shit, why burn ours when we can burn other peoples?  then when ww3 breaks out we'll have it all muwahahahahha!
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RDMC
Enemy Wheelbarrow Spotted..!!
+736|6535|Area 51
Its all part of a secret plan The US will drain the worlds oil supplies and then everyone will have to turn to the US for their oil. I haz figuredz it all out
Mekstizzle
WALKER
+3,611|6591|London, England
Instead of looking at the black sticky shit under your feet, turn your heads to the national ignition facility in California. Apparently this is the year they will crack the fusion process and get more energy out than they put in. Once we can properly harness it all, it's basically goodbye to energy problems worldwide. Hell, even goodbye to freshwater/agricultural problems too. Invest in desalination companies once we manage to crack fusion. Oh and sell your stocks in oil
Noobeater
Northern numpty
+194|6417|Boulder, CO
What Mekkington says is true, the N.I.F is the direction the world should really be looking in at the moment, if they can optimise that so it works completely and generates a substantial amount of energy then it will be an amazing new technology. Though unfortunately due to its high build cost it won't be easy for small or poor nations to afford their own versions until it has been fully refined.

I'll post my comments on these oil deposits when I've fully read all available information on them.

As others said, it is nearly all in oil shales which are notoriously expensive and environmentally destructive to extract. What I think is a much more interesting thing with this is the existence of a good amount of natural gas, which is an easier resource to tap and use.

I can heartily reccomend the USGS podcast interview with some of the lead scientists on the study.

http://www.usgs.gov/corecast/details.asp?ep=38

Its only 6 minutes.

Last edited by Noobeater (2010-03-11 09:53:22)

Jay
Bork! Bork! Bork!
+2,006|5328|London, England
It's shale oil. Expensive to extract.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
PrivateVendetta
I DEMAND XMAS THEME
+704|6161|Roma
I got the impression fusion had been 30 years away - for the last 30 years
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destruktion_6143
Was ist Loos?
+154|6597|Canada

JohnG@lt wrote:

It's shale oil. Expensive to extract.
This.

50 years ago, no one would want to spend the money and the effort to extract shale crude and tarsands when the easy stuff is in another country. Now though, that times are tough, people are willing to make innovations and such to extract it all.
SEREMAKER
BABYMAKIN EXPERT √
+2,187|6538|Mountains of NC

https://www.psy.ritsumei.ac.jp/~akitaoka/sun.jpg





on topic :

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m3thod
All kiiiiiiiiinds of gainz
+2,197|6641|UK

JohnG@lt wrote:

It's shale oil. Expensive to extract.
Adding to this, it take approx 7 barrels of water to produce 1 barrel of shale oil.  Not financially viable at the moment, no doubt when crude runs out it will magically turn viable. 

American superiority will increase ten fold when this occurs.
Blackbelts are just whitebelts who have never quit.
Jay
Bork! Bork! Bork!
+2,006|5328|London, England

m3thod wrote:

JohnG@lt wrote:

It's shale oil. Expensive to extract.
Adding to this, it take approx 7 barrels of water to produce 1 barrel of shale oil.  Not financially viable at the moment, no doubt when crude runs out it will magically turn viable. 

American superiority will increase ten fold when this occurs.
It doesn't really 'take' water to produce it. American reserves are mixed in with trillions of tons of salt water which also adds to the cost.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
King_County_Downy
shitfaced
+2,791|6567|Seattle

I thought there was a canadian company who patented a better way to extract from shale? They're using it up in Canada atm for all of their shale reserves.


btw, moving to D&ST... wasn't sure if anyone would take this seriously initially
Sober enough to know what I'm doing, drunk enough to really enjoy doing it
13rin
Member
+977|6449
I posted something about this a long time ago....but.

U   S   A!
U   S   A! 
U   S   A!
I stood in line for four hours. They better give me a Wal-Mart gift card, or something.  - Rodney Booker, Job Fair attendee.
Jay
Bork! Bork! Bork!
+2,006|5328|London, England

King_County_Downy wrote:

I thought there was a canadian company who patented a better way to extract from shale? They're using it up in Canada atm for all of their shale reserves.


btw, moving to D&ST... wasn't sure if anyone would take this seriously initially
It's still less profitable than extracting from the Middle East. Canadian companies don't have access to the world oil fields. American companies do so we 'import' from elsewhere even though by 'importing' we're really just buying the oil that our companies extract overseas (for the most part). If it becomes more profitable to pump here (because the wells are already drilled and capped for future use) they will do so.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-CARNIFEX-[LOC]
Da Blooze
+111|6624
Back when gas was still well over $3.00/gallon, I read that extraction of shale-oil is currently reasonably profitable so long as gasoline stays at around those prices or higher (although as extraction technology progresses the cost will correspondingly decrease). 

So the more expensive gasoline is, the more feasible tapping this resource becomes. 

However, they can't simply flood the market with this new supply, because the corresponding drop in the price of gasoline would be completely self-defeating.   So while it may add a lot of peace of mind concerning our national resource stockpiles, and make a lot of rich Americans even wealthier, I don't see this discovery ever leading to massive drops in the price of gas.

I would get used to gas being at least as expensive as it is now.
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blademaster
I'm moving to Brazil
+2,075|6615
yea heard about this while back or read about it, crazy shitz
Winston_Churchill
Bazinga!
+521|6709|Toronto | Canada

JohnG@lt wrote:

King_County_Downy wrote:

I thought there was a canadian company who patented a better way to extract from shale? They're using it up in Canada atm for all of their shale reserves.


btw, moving to D&ST... wasn't sure if anyone would take this seriously initially
It's still less profitable than extracting from the Middle East. Canadian companies don't have access to the world oil fields. American companies do so we 'import' from elsewhere even though by 'importing' we're really just buying the oil that our companies extract overseas (for the most part). If it becomes more profitable to pump here (because the wells are already drilled and capped for future use) they will do so.
Actually...

Theres a company thats a client of the company I'm working for that has a new technology that separates the oil from the other products quickly and with no environmental concerns

All that oil will be recovered quite easily soon.

Also, why the concern over the Middle East? Canada is your largest supplier of oil
FEOS
Bellicose Yankee Air Pirate
+1,182|6381|'Murka

There's also this. Right under my parents' feet. One of their friends is getting royalty checks of roughly $1M/month for their mineral rights.

Good Lord I'm hoping they find a reason to drill on my parents' land...
“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.”
― Albert Einstein

Doing the popular thing is not always right. Doing the right thing is not always popular
Cybargs
Moderated
+2,285|6686
Theres a shitload of natural gas being pumped out of Arkansas right now...

Yeah as John said, wayyy too expensive to extract US oil. Easier to drill through sand than rock. I would rather keep the ME afloat coz ya know, globalization has some very good cultural affects.
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Pug
UR father's brother's nephew's former roommate
+652|6512|Texas - Bigger than France
There's a local company that drilled five wells there last year, made a bundle.

The thing about drilling that area is you get a great first year, and then it gets harder and harder.

In other words, to do Bakken, you have to punch a bunch of wells while other places you just need one.
Diesel_dyk
Object in mirror will feel larger than it appears
+178|5964|Truthistan

Pug wrote:

There's a local company that drilled five wells there last year, made a bundle.

The thing about drilling that area is you get a great first year, and then it gets harder and harder.

In other words, to do Bakken, you have to punch a bunch of wells while other places you just need one.
They call it oil and gas fracking.
They using explosions to crack the rocks to get the gas out and now natural gas is seeping to the ground water and poisoning it.
They may be making a bundle but long term we also need that ground water too.

I did a search on it and this popped up at the top of the list
http://www.propublica.org/feature/offic … illing-426
Spark
liquid fluoride thorium reactor
+874|6645|Canberra, AUS
If it is shale, then this is a storm in a non-existent teacup.
The paradox is only a conflict between reality and your feeling what reality ought to be.
~ Richard Feynman
Pug
UR father's brother's nephew's former roommate
+652|6512|Texas - Bigger than France

Diesel_dyk wrote:

Pug wrote:

There's a local company that drilled five wells there last year, made a bundle.

The thing about drilling that area is you get a great first year, and then it gets harder and harder.

In other words, to do Bakken, you have to punch a bunch of wells while other places you just need one.
They call it oil and gas fracking.
They using explosions to crack the rocks to get the gas out and now natural gas is seeping to the ground water and poisoning it.
They may be making a bundle but long term we also need that ground water too.

I did a search on it and this popped up at the top of the list
http://www.propublica.org/feature/offic … illing-426
Yeah, I know.

But what I'm saying is that in Bakken, you have to sink 10 wells to get the same volume as one in other places.  Including fracking.  In other words, the cap rock holding the oil in is inconsistent.  So there's a bunch of spots with oil, but each spot is smaller than what usually oil companies look for.
Burwhale
Save the BlobFish!
+136|6192|Brisneyland
I dont believe anything that turns up on a chain mail. Not saying its not true though.
11 Bravo
Banned
+965|5207|Cleveland, Ohio
I was asking the other day why all of our Minneapolis to Minot, ND are full now.........they said its an oil boom.  Didn't even know it.  But, people are flocking there.

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