Posted on 02/08/2011 5:03:39 PM PST by WellyP
Wikileak reports Saudi Arabia Oil Reserves may be as much as 40% less than reported.
FOX just reported this. The leaked wire was from the US Embassy.
Peak oil is going to be so much fun.
Oh goody, the price at the pump will go up about another dollar after this news hits the streets.
DRILL HERE DRILL NOW!!!!
That nat gas Honda I’ve been thinking about buying is looking better all the time.
I guess we will have to go after that 1.5 TRILLION barrels of recoverable oil we have sitting under the Green River Formation and say screw the rest of the world!!
Only a $ if we’re lucky......
Where are our so called leaders calling for development of our own resources?
Time to throw out Chavez and let the good people of Venezuela profit from their huge oil sands deposits. Like the rest of the Venezuelan crude it will be heavy and sour which our refineries are specially make to process.
http://en.wikipedia.org/wiki/Orinoco_Belt
The Orinoco Belt consists of large deposits of extra heavy crude (oil sands), known as the Orinoco Oil Sands or the Orinoco Tar Sands. The Orinoco Tar Sands are known to be one of the largest, behind that of the Athabasca Tar Sands in Alberta, Canada. Venezuela’s non-conventional oil deposits of about 1,200 billion barrels (1.9×1011 m3), found primarily in the Orinoco oil sands, are estimated to approximately equal the world’s reserves of conventional oil.[1] Petróleos de Venezuela S.A. has estimated that the producible reserves of the Orinoco Belt are up to 235 billion barrels (3.74×1010 m3)[2] which would make it the largest petroleum reserve in the world, before Saudi Arabia [3].
Actually, it is the Green River Basin. The formations are the Bakken Shale and the 3 Forks Sandstone.
Good.
I wouldn’t put it past the Saudis to spread disinformation to keep the price of crude high.
http://en.wikipedia.org/wiki/Oil_reserves_in_Iraq
Oil reserves in Iraq will be the largest in the world according to recent geological surveys and seismic data.[1] The Iraqi government has stated that new exploration showed Iraq has the world’s largest proven oil reserves, with more than 350 billion barrels.[1] Officially confirmed reserves rank third largest in the world at approximately 143 billion barrels (22.7×10^9 m3).[2]
Sure looks like Obama knew about this possible Saudi shortfall all while he was stopping our own production.
No doubt! NO-Bama 21 Jan. 2013
The Green River hydrocarbons are not oil. They are kerogen. It is useless. It cannot be refined. A barrel of it has the energy content of a single McDonald’s sesame seed.
You aren’t going to save the world with Green River. You aren’t going to save a cabin in Idaho with Green River.
Unlike major “stock based” energy corporations - i.e. that must “prove” and legally attest to the status of their reserves each year, the Saudi’s merely point to unexplored regions of the country that are likely to hold oil and natural gas - and then they state that all reserves are status quo
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