Aces High Bulletin Board
General Forums => The O' Club => Topic started by: BMathis 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:
-
Where is the catch? Recoverable with today's technology? IS this oil sand or is it very deep?
-
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."
-
You can forget about even discussing this for at least the next four to eight years.
-
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.
-
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.
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.
-
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.
-
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???
-
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."
-
Don't forget the reserves under Southern Illinois as well as Southwest Arkansas!
ROX
-
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!
-
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.
-
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:
:)
-
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
-
Yea, i heard about this. It was found in the 80, i believe, but we didn't have the technology to extract the oil.
-
"another fuel source ", well we are waiting.
-
I've heard about this before, there are two big drawbacks though.
1.) The cost effectiveness of extracting the oil. When gas hits $5.00 a gallon it would be more cost effective to tap into these reserves. At the current rate of approx $2.00 per gallon there is no profit, hence no incentive, to go after these reserves.
2.) There are the environmentalists to contend with. They have the, "not in my back yard attitude," that pretty much kills the profitability of extracting this reserve as it would cost too much to deal with their incessant lawsuits, injunctions, and of course the endless court appeals that could drag on for years.
If and or when foreign oil reserves begin to dry up, and the price of gas skyrockets to the $7.00 per gallon mark, maybe there will be enough public support to squelch the outcry of the environmentalists, and get down to the business of securing our future.
Then again, by that time, alternative fuel sources could break through the technological barrier to profitability making this whole discussion moot. Realistically I don't see that happening within the next twenty five years.
Just my 2 cents worth.
-
don't worry comrade, your new bike has been ordered..
(http://bikehugger.com/images/blog/IMG_4105.jpg)
your new 15k gov job will be close enough for you to pedal to - rain or shine
now repeat after me:
"Oil is evil ... green is good..."
"Capitalism is evil ... socialism is good..."
"Private industry is evil ... government is good........
-
don't worry comrade, your new bike has been ordered..
(http://bikehugger.com/images/blog/IMG_4105.jpg)
your new 15k gov job will be close enough for you to pedal to - rain or shine
now repeat after me:
"Oil is evil ... green is good..."
"Capitalism is evil ... socialism is good..."
"Private industry is evil ... government is good........
If it weren't so true, I would laugh.
-
don't worry comrade, your new bike has been ordered..
(http://bikehugger.com/images/blog/IMG_4105.jpg)
your new 15k gov job will be close enough for you to pedal to - rain or shine
now repeat after me:
"Oil is evil ... green is good..."
"Capitalism is evil ... socialism is good..."
"Private industry is evil ... government is good........
It's a shame that the way things are going, this is what we're coming to. It's so much easier to blame someone, or something, else for our shortcomings. Many expect, and want, the government to take a more active interest in their lives. That way they have a readily available scapegoat for when things don't go exactly as they wanted them to.
-
we were discussing this at work today, and sombody said "yea its there, but it would be a pain in the bellybutton to get that oil, its probably not worth the trouble, and not econimical"
and someone else shot back:
"a bigger pain in the bellybutton than what happens when you buy it from people who hate you and used the money they make off it to try and kill you? Less economical than trying to prop up an entire country so you can reliably buy it from them? more trouble than.. dieing?"
Good points.
I say DRILL.. yea yea we need to look at alternative energies.. but that isnt something that is going to be a flip of the switch.. its going to take decades to fully get spun up and implement.. yea we have the technology NOW.. but not the infrastructure to implement it wide scale.. that will cost ALOT of money.. perhaps as much as we would save by using our own oil instead of buying it from the cartels (yes that's what they are)... hmm.. almost makes TOO much sense.
-
Like the old saying "if it sounds to good to be true, it ussually is"
linky to the snopes article
http://www.snopes.com/politics/gasoline/bakken.asp (http://www.snopes.com/politics/gasoline/bakken.asp)
For more information on this story I found this website-
http://www.theoildrum.com/node/3868 (http://www.theoildrum.com/node/3868)
-
We got tons of oil within our land but the greenies dont like us tearing up the land. I do think we need some alternative sources of energy but honestly I dont see any machines of War being powered by anything other then oil. (not forgetting the nuclear powered naval ships but I dont think a nuclear reactor in a tank is gunna make sense)
-
Makes the enemy think twice before they shoot it.
-
Eventually we will run out of oil, or have a rather funny atmosphere, with maybe some 1000 ppm carbon :devil
Point there is that alternate energy, or looking for it, is a good thing.
But we are finding more and more, and the equipment for getting oil is getting better and better.
Outside Iceland there is a big field at the bottom of the sea. Quite a bit of oil....presumably. But the ocean there is 2 km deep. No problem for the newest rigs, they can do it, and drill 10 km deep!
-
But we are finding more and more, and the equipment for getting oil is getting better and better.
Outside Iceland there is a big field at the bottom of the sea. Quite a bit of oil....presumably. But the ocean there is 2 km deep. No problem for the newest rigs, they can do it, and drill 10 km deep!
Sounds good until we add in the worst case scenario for those who invest in such rigs. This would be to go to a third world country spend billions of dollars to setup such rigs. Pay 30%-40% in taxes to such country, and of course employ 1000's of workers, only to be accused of stealing the peoples oil resources 10 to 20 years down the road so they can nationalize it for good of the people. :lol
-
2 questions,who supplies the US with largest percentage of oil?
where is the largest know oil supply in the world?
hint answer is same for both!
-
The problem is not the technology. The problem is in the profits. The government could give the OK to drill all the US reserves and it still would not happen. As long as the international oil companies can exploit cheap third world labor, then third world oil countries will be their best friends. I wolk offshore in the Gulf of Mexico and have seen move wells drilled and capped to be used at a later date, because it's cheaper to bring in saudi oil in a tanker, then it is to pipeline in Gulf oil.
-
2 questions,who supplies the US with largest percentage of oil?
where is the largest know oil supply in the world?
hint answer is same for both!
A wild guess....
Chavez :D
-
It's funny how you all missed the point (except wild card).
This is an exagerated piece of news designed to steer money to the right hands. Make no mistake, the US does not have enough oil reserves to supply itself even if it was to drill in every pocket under its soil for even a year.
The quicker you understand that, the quicker you can make adjustment to your energy supply system.
-
It's funny how you all missed the point (except wild card).
This is an exagerated piece of news designed to steer money to the right hands. Make no mistake, the US does not have enough oil reserves to supply itself even if it was to drill in every pocket under its soil for even a year.
The quicker you understand that, the quicker you can make adjustment to your energy supply system.
I missed the point? How? You are saying what I did on the first page.
(http://img480.imageshack.us/img480/1662/doh4jw.gif)
-
I missed the point? How? You are saying what I did on the first page.
(http://img480.imageshack.us/img480/1662/doh4jw.gif)
You were right about the point you made. But, whoever put this piece of news out there back in 2006-7 was trying to steer investment to a client. It was a bogus claim, and we now know that there was a lot of "bogus" investment strategies like that one.
-
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.
~10M$ to do the next intermediate step (~5-10 sec continuous operation) for Polywell fusion. That's chump change nowadays.. orders of magnitude less than e.g. ITER.
http://www.emc2fusion.org/
-
It is bogus though m00t. I knew this, there is no "secret cache" of Oil. This is why I put the "alternative energy source" out there. Folks wanted me to explain and I have no need too. It is common sense, but some enjoy to line the pockets of the Sheiks and "Old Money" here in the US.
-
It's not the first time this sort of thing comes up. There was at least two other reserves of potential energy resources that no one in the general public really knows what to make of, as far as reports go. You've got big numbers like "enough energy locked up in em" to make the US independent from the ME, and you've got the other (scant) reports on how feasible extracting the energy is, what the cost/benefit is. Then there's the political aspect - the groups pulling the strings may want the oil biz to stay as it is to make their dough.
-
There are only two possible sides to this, either: 1. The evil oil companies want to dwell on an outdated energy source and ruin the environment of the entire earth, or, 2. The environment wackos want to ruin the world's economy and drive us all back to the eighteenth century for their own gain of power.
There could not possibly be another view.
-
Yeah those two are definitely the only explanations.
-
There are only two possible sides to this, either: 1. The evil oil companies want to dwell on an outdated energy source and ruin the environment of the entire earth, or, 2. The environment wackos want to ruin the world's economy and drive us all back to the eighteenth century for their own gain of power.
There could not possibly be another view.
Why the "Conspiracy Theory"? It is simple sluggish. All of the known "large profitable" Pre-Cambrian swamplands have been found. Once the former swampland is gone (people without Geology knowledge claim a 40 year+ window and it makes some of us laugh), it will take almost 3 billion years to make oil from "today's swamps." By then, the Earth is already starting to become inhabitable.
Only fact is "The evil oil companies want to dwell on an outdated energy source." This much is true and if you doubt it, you need psychological help.
-
I'm pretty sure if there were another energy source as profitable and needed as oil, the "evil" oil barons & those nasty banker types would already own it ...
it's all hype to push a political agenda .. nothing but a power struggle
-
It's not that far fetched.
-
So Geology is controlled by the Govt.? Okeedokee.
-
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."
or deplete there resource then sell them ours at ten times the going rate
-
or deplete there resource then sell them ours at ten times the going rate
can't do that, not allowed to drill for it.
-
or deplete there resource then sell them ours at ten times the going rate
and we pay more for gas too? Nah, there is an endless supply of oil, no worries.
-
A wild guess....
Chavez :D
Nope,but close...
Hint: it's delivered by pipeline.
-
I'm pretty sure if there were another energy source as profitable and needed as oil, the "evil" oil barons & those nasty banker types would already own it ...
True and they do: water.
I also agree that there are two political agendas being pushed, here. We're not all going to die in 6 months and we dont have enough oil for 100,000 years.
Somewhere, in the middle, is the truth. Problem is, no one really knows for sure. However, we do know enough that the price of petroleum-based products does have a direct correlation with supply estimates and, I assure you, if ExxonMobil, Shell, etc. thought we were going to be running out of extractable crude any time soon, we'd be paying a heck of a lot more than $2.00 for a gallon of regular.
You'd also see diversification. These "evil oil companies" exist to make a profit by producing a good and selling it for a higher price; no different than any other company. Cigarette companies, for example, have been diversifying their businesses for decades because the writing on the wall was clear to them.
I don't see any oil companies rushing to get out of the oil business and you'd think, if their livelihood depended upon the existence of the resource required to make the product, they'd be pretty quick to change gears if they thought it was going to go missing any time soon.
Either way, the only real "alternative fuel" is nuclear and, although the construction and operation of several new plants could considerably reduce dependence upon oil imports, the Japanese haven't figured out how to make a reactor small enough to fit into a car, yet.