Posted on 05/15/2008 6:25:17 PM PDT by mondoreb
HUGE Oil Field in Montana is Good News for Consumers --Which Makes it Unpalatable for the Mainstream Media
While Jeroen van der Veer, Shell’s chief executive, fears for the future of oil supplies after 2015--maybe he's confusing Shell's oil supply with the rest of the world's--Newsmax has just released information on the HUGE oil discovery in Montana: the Williston Basin or "Bakken" field.
About 470 miles outside the state capitol of Helena - in a place called Richland County, Montana - more millionaires are being created per capita than anywhere else in America.As one can see from the map below, before the 'Bakken' discovery, the U.S. was still a major oil producer--it is just a major consumer, also.It's 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, Montana is 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.
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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.
(Excerpt) Read more at deathby1000papercuts.com ...
Why? It's true. We have tha same thing happening here in western North Dakota. Major activity happening, drilling rigs, gas and oil pipelines being built. This is huge!
“a HUGE oil field promises 503 barrels of sweet crude”
Not anything to write home about.
OK, I know it’s a typo!
“Teddy Roosevelt NP.”
That bothers me a bit. The enviros will shriek and howl.
Makes me hope there’s an oil jackpot discovered one day in the center of Yosemite Valley.
The numbers in this “report” are wrong.
I doubt that Ted Turner owns the mineral rights to the land he bought. Most land sellers in the last 40 years have retained the rights to minerals, at least a portion of them.
Quick . . .let’s elect the RATS to office so they can make it a national monument and off-limits to drilling.
It’s bad news for environmentalists, who loathe oil and have way too much influence in Washington.
That breakthrough in battery design has been predicted every year since 1900.
Where we can't pump it? Better to find it in Texas...:)
2nd that. It’s a shame they and WND went off the deep end on so many topics.
Anybody want to bet when the Feds try to issue permits allowing drilling at Bakken the Environazis will sue saying since the Polar Bears are now covered by the ESA due to global warming drilling permits must pass muster with the Fish & Wildlife Dept.
Gonna be a dental floss tycoon.
Go hang around the court houses in the counties there...you will see land men research mineral rights for the majors. Ask them.
If you get up on a good promontory in the Teddy, you can see oil derricks and wellheads all around. Not to worry. We North Dakotans love our oil!
Bump
A geologist buddy of mine, who’s from Iowa, said that he was sure there were large gold deposits in SE Iowa — 2 miles down— because of that mountain range.
"Moon-Unit" and "Dweezil?"
<<<< The Democrats in both Houses will find a way to close those fields >>>>.
No, the enviro-whackies who are funded by the Arabs will stop it.
drill in my back yard, those rigs make for good fishing and diving.
porgy
weeki wachee,fl
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