Thursday, March 31, 2011

How Much Oil Does the United States Have in the Ground?


 

US Oil Reserves


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

 

By the way, I received the article above in an email from a friend of mine. The writing is not my own. I am for drilling in Alaska. To me it is a no brainer.

3 comments:

Robert said...

"By the way, I received the article above in an email from a friend of mine. The writing is not my own."
And therein lies the problem Glen. You are believing an email?

North Dakota and Montana have an estimated 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in an area known as the Bakken Formation.

Here is the USGS link, read it for yourself and stop spreading the BS.

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

Glen Woodfin said...

Robert,

I shared the exact same link, so I'm not sure what the challenge is.

There are other reserves in the United States besides just Montana and North Dakota. The post even lists some of them.

However, it's always good for me to be slammed by a superior intellectual who does a drive by anonymously, but doesn't have the integrity to even have a profile linked to their comment.

Gee, is your name really even Robert?

Jack J Johnson said...

If Robert is correct, then why is Anadarko securing so many mineral rights leases in the Denver-Julesburg Basin. Some of the bonus payments are as high as $1000.00per acre.

Jack J Johnson
Parker CO