Skip to comments.3 to 4.3 Billion Barrels of Oil Assessed in N Dakota & Montana’s Bakken Formation
Posted on 02/27/2009 8:00:10 AM PST by Lucky9teen
The U. S. Geological Service issued a report in April ('08) that only scientists and oil men knew was coming, but man was it big. It was a revised report (hadn't been updated since '95) 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 WillistonBasin, but is more commonly referred to as the 'Bakken.' And it stretchesfromNorthern 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 41 years straight.
2. And if THAT didn't throw you on the floor, then this next one should - because it's from TWO YEARS AGO!
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 untapp ed 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 - 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!
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.
Got your attention/ire up yet? Hope so! Now, while you're thinking about it .... and hopefully P.O'd, do this:
3. Pass this along. If you don't take a little time to do this, then you should stifle yourself the next time you want to complain about gas prices .. because by doing NOTHING, you've forfeited your right to complain. -------- GOOGLE it or follow the link. It will blow your mind.
Where'd that number come from? We better get it at $35 or less.
Al Gore, Obama and IPCC are greatly saddened. All efforts will be expended to prevent development of this find and a carbon tax will be used regardless to make oil and coal much more expensive.
Hmmmmmmm, ND would be a good place to live if they secede. Gonna move in with my Bro-in-law in Minot.
I remember when that report came out last year. The environweenies went crazy because much of it is under Indian reservation land, and they were concerned that they couldn’t easily delay the drilling & refining development process with a ton of court actions.
Shale oil or good ol’ regular black gold?
For example, your posted article: The Energy Information Administration (EIA) estimates it at 503 billion barrels....
The USGS article: Reston, VA - 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. (for those of you scoring at home that's a difference of about 500 BILLION barels.
It would appear that the article you posted bears no relationship to the article linked.
Between Bakkan oil, other onshore oil, shale oil, and coal diesel in the lower 48 states - we have FOUR times the Saudis oil reserves and we could get at it for $35 a barrel and maybe as low as $25 without enviro disaster and it would reboot our country and economy.
This does not include offshore and alaska. Alaska has permafrost methane or hydrate gas under the ice onshore that could warm 30 million homes for over a decade.
Why do you think the Saudis own our environmentalists, TV networks (fox 15%) and the White House?
The states MUST grab this land back from the Feds. Utah’s clean coal is probably worth a few trillion.
The saudis want us to be energy serfs and O will flood America with Muslims like the left did in the UK.
And in the ground it will stay....
We must do everything in our power to make sure that this oil is not drilled. If it is drilled and sucked out of the ground, think of all the prarie dogs that will die because of pollution and being runover by oil trucks and the buffalo, deer and antelope will have nowhere to roam. And the entire region will collapse into a huge crater when the oil is sucked out of the ground.
This descecration of the environment must stop and we must continue to complain about buying oil from the A-rabs!!! (scarcasm off)
I don’t know....I got the text I posted in an email, went to the link, saw it had most of the same text and pasted it.
Maybe the difference is between what is there and what is technically recoverable....
That was the price of oil when the article was written.
There were a lot of wildly inflated overestimates floating around before the USGS report came out.
It’s a nice field but it’s not remotely comparable to Saudi, and it’s fairly difficult to recover.
The “environmentalists” had better get busy and stop us from developing it. Which they will.
“Its a nice field but its not remotely comparable to Saudi, and its fairly difficult to recover.”
Yeah, my understanding was that oil had to be over 100 dollars a barrel before it was cost effective to drill.
I am from ND, all of my family still lives there and we have about 1000 acres in that area, there is alot of drilling going on as we speak. Take a look at Stanley, ND and see how that small town has been affected by the “oil boom”, not all positive, but alot of farmers routinely getting six-figure checks in the mail. Our family has 3 wells, with a 4th coming, alot of mineral rights, etc....Is the maximum effort being done up there? Probably not, but drilling is happening. Good people up there, I definitely would recommend living there to anyone interested. I moved to Phoenix 3.5 years ago and if amnesty is given to the illegal aliens, I may be moving back. God speed everyone! God Bless America!
Save the offshore drilling and Help Sarah open anwr
Its all about National Defense, Drill for Oil Now
They are all owned by the Saudis.
The states under the 10th Amendment need to tell the feds to get screwed. We are taking back the fed land and are developing energy on the land.
At some point there will be a technology that does for shale oil what shale/fracture technology has done for shale gas.
The Bakkan fields have lost all financing, most of the operators have become dormant entities, and the drilling rigs are idled.
There were a lot of penny stock scammers working on that Bakkan play, and all lost their shirts if they didn’t get out of the stocks a week BEFORE that report came out.
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