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Author Topic: U.S. Oil  (Read 1711 times)

Offline BMathis

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U.S. Oil
« on: March 31, 2009, 12:09:32 PM »
Just got an email the other day with a link to this article... Thought it was pretty interesting. The article was written last year, so some may remember this. Though I hadn't heard about it until I checked my email.

Title: "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"

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

They're saying pretty much we have more oil than we (as in the U.S.) ever thought. There's other sources in my email, but I don't wanna clutter this post more than it is.

"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."

The email I recieved went on to say this in the body:

"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 is more than 2 TRILLION barrels.On August 8, 2005 President Bush mandated its extraction.

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"

I do not know if all this is completly accurate (I didn't check the other sources), but found it interesting enough to pass it along.  Which is rare, I hate FWD emails  :rolleyes:

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Offline Angus

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Re: U.S. Oil
« Reply #1 on: March 31, 2009, 12:13:23 PM »
Where is the catch? Recoverable with today's technology? IS this oil sand or is it very deep?
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Offline avionix

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Re: U.S. Oil
« Reply #2 on: March 31, 2009, 12:35:55 PM »
I have heard this from very reliable sources.  It would be easily recoverable using today's tech.  But of course, some people are more interested in going "green."
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Offline sluggish

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Re: U.S. Oil
« Reply #3 on: March 31, 2009, 12:38:22 PM »
You can forget about even discussing this for at least the next four to eight years.
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Offline avionix

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Re: U.S. Oil
« Reply #4 on: March 31, 2009, 12:49:59 PM »
Quote from: sluggish on March 31, 2009, 12:38:22 PM
You can forget about even discussing this for at least the next four to eight years.

Ain't that the truth.  This could take care of our oil supply for years to come and get us through til more economical alternatives are ready. 
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Offline BMathis

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Re: U.S. Oil
« Reply #5 on: March 31, 2009, 12:53:46 PM »
The article says it's not all in One specific "localized Area", like you see in most deposits; though with all the Drilling and Logging technologies we have, I'd think it's not too difficult to recover the oil.

Some of the oil is in a mountainous region, which will probably make it a little more difficult to get... But They know it's there, at least.

Quote from: avionix on March 31, 2009, 12:49:59 PM
Ain't that the truth.  This could take care of our oil supply for years to come and get us through til more economical alternatives are ready. 
The email quoted another source; saying the amount of oil, even if only 10% is recoverable/usable, could power the U.S. for 41 years straight.

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Offline Masherbrum

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Re: U.S. Oil
« Reply #6 on: March 31, 2009, 01:52:31 PM »
Quote from: avionix on March 31, 2009, 12:35:55 PM
I have heard this from very reliable sources.  It would be easily recoverable using today's tech.  But of course, some people are more interested in going "green."

It is within a mountainous region, involves over a hundred "pockets".    Getting the oil to the refineries, will not disperse the offset of expenditures.   

It's time to look towards other fuel sources.   
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Offline stroker71

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Re: U.S. Oil
« Reply #7 on: March 31, 2009, 02:11:01 PM »
I would think it's more of a strategic thing.  Use up the other countries oil before we use up ours.  If there is a war who would you rather have the oil to wage said war??? 
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Offline Masherbrum

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Re: U.S. Oil
« Reply #8 on: March 31, 2009, 02:13:41 PM »
Quote from: stroker71 on March 31, 2009, 02:11:01 PM
I would think it's more of a strategic thing.  Use up the other countries oil before we use up ours.  If there is a war who would you rather have the oil to wage said war??? 

If "Global Domination" is the Quest.   Implement another fuel source and you eliminate the Middle East and the US's dependency.    Anything else is "Stalling the inevitable." 
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Offline ROX

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Re: U.S. Oil
« Reply #9 on: March 31, 2009, 02:26:01 PM »
Don't forget the reserves under Southern Illinois as well as Southwest Arkansas!



ROX
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Offline stroker71

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Re: U.S. Oil
« Reply #10 on: March 31, 2009, 02:32:07 PM »
Quote from: Masherbrum on March 31, 2009, 02:13:41 PM
If "Global Domination" is the Quest.  Implement another fuel source and you eliminate the Middle East and the US's dependency.    Anything else is "Stalling the inevitable." 

Don't be so small minded (don't mean that in a disrespectful way).  If the human race survives it's own stupidity there will be a world government.  Remember the golden rule...he with the gold makes the rules!
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Offline Bodhi

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Re: U.S. Oil
« Reply #11 on: March 31, 2009, 02:52:27 PM »
Quote from: stroker71 on March 31, 2009, 02:32:07 PM
Don't be so small minded (don't mean that in a disrespectful way).  If the human race survives it's own stupidity there will be a world government.  Remember the golden rule...he with the gold makes the rules!


Thankfully not all people think like you.
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Offline BMathis

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Re: U.S. Oil
« Reply #12 on: March 31, 2009, 03:18:03 PM »
Quote from: Masherbrum on March 31, 2009, 01:52:31 PM
It's time to look towards other fuel sources.   
I agree. Thankfully there are companies working on that issue now.

However, if the Gov't starts getting involved with everything in our Private Sector... Well we now how quickly things are done in congress  :rolleyes:

 :)
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Offline Masherbrum

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Re: U.S. Oil
« Reply #13 on: March 31, 2009, 03:18:52 PM »
Quote from: BMathis on March 31, 2009, 03:18:03 PM
I agree. Thankfully there are companies working on that issue now.

However, if the Gov't starts getting involved with everything in our Private Sector... Well we now how quickly things are done in congress  :rolleyes:

 :)

Yep
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Offline oakranger

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Re: U.S. Oil
« Reply #14 on: March 31, 2009, 03:38:14 PM »
Yea, i heard about this.  It was found in the 80, i believe, but we didn't have the technology to extract the oil. 
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