Posted on 01/26/2009 4:19:14 AM PST by bocopar
I wonder if this will ever see the light of day, and if so, what Al Gore and the left would have to say about it?
The U.S. Geological Service issued a report in April ('08) that only scientists and oilmen 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:Imagine the hostile oil-producing nations we could give the finger to....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.
(Excerpt) Read more at black-and-right.com ...
ping
psychotic, socialist, liberal democrats do not like oil.
(kind of like dracula and garlic.)
IMHO
prisoner6
This line really makes me lose faith in the remainder of the information. Oil is nowhere near $107/bbl right now.
ping
At $40 a barrel, the formation could pump out enough oil ($2,000,000,000,000) to make a down payment on the stimuli packages just passed and the new one proposed. But just a down payment.
It was, when the piece the site cites was written, back in the summer of 2008.
But regardless of the price of oil, the discovery is significant.
I just gave it to my news anchor(WSHH-FM Pittsburgh)...I actually had given a similar release last year, but I wanted to rub his nose in it because he's big on global warming and environmental issues. Of course his response was that it's all in shale and would destroy the local environment.
Just pump the dang oil was my response to that.
prisoner6
It's going to be for the reason that the democrats will see the low oil prices and claim we can afford one dollar more in gas taxes. It won't take long ...... wait and see!
prisoner6
Having domestic capacity set up and running primarily takes away from OPEC their ability to cut back on supply in order to create crises in our nation and thus control such things as budget decisions, political decisions, and even elections.
The left knows this, and they know that OPEC typically sides with them, thus they do not want America to regain that independence.
Simply put, there is no sound reason for not drilling and processing our own reserves.
It would be better for us to help the Saudis and OPEC fund the Islamization of the world than use the resources that God in his providence has given us here in our own land. So screw us.
Oil in place, trapped in the shale isnt the same as recoverable oil by drilling.
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.
http://www.freerepublic.com/focus/f-news/2000937/posts
Lots of threads here discussing this back when USGS released their numbers last year. Click on the keyword Bakken.
BTTT
I can't find the exact article here are a couple of indirect links.
and
prisoner6
The facts of the matter are that the US has proven oil deposits exceeding all other known sources in the world combined and the ability to recover it are being perfected as we speak. However, the real “energy” news that will rock the world has to do with MIT’s students’ discovery of converting solar energy at a cost similar to the price of coal using solar concentrators. If we use coal to power 50% of our economy then this is huge news. This new solar is a lot cleaner than most alternative energy sources out there. And, they are two or three years away from widescale implementation. This changes everything!
That should last the Democrats and the Republicans about five minutes.
That said do you have any inks to the MIT research? I'd be interested in reading it.
prisoner6
Sounds like grant bait to me
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