While this is indeed impressive, lets not forget the United States already has almost 3 times that amount in oil shales in Colorado, Utah and Wyoming. Its called the Green River Formation and current estimates range from 1T barrels to 1.4T barrels of "technically recoverable" oil. http://pubs.usgs.gov/sir/2005/5294/pdf/sir5294_508.pdf http://en.wikipedia.org/wiki/Green_River_Formation
What probably will be never mined in decent quantities, due to lack of aviable water... Yes, but I raise you with peak water!
I don't know whether to believe the email below. Would someone please give me their comments? THIS IS AMAZING AND THE BACKUP PROOF IS AT THE END!!! I was blown away after I read this. We must take our government back. Billy Don To: 912Project The Real Oil Fields of the U.S.A. The Bakken oil field - article checked through link at the end for authenticity. About 6 months ago I was watching a news program on oil and one of the Forbes Bros. was the guest. This is out of context, but this is the actual question as asked. 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 ('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 Williston Basin , but is more commonly referred to as the 'Bakken.' And 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, at the present rate of consumption. 02.) 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 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/ire up yet? Hope so! Now, while you're thinking about it .... and hopefully P.O'd, do this: 03.) 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 ---------------------------------------------------------------------------------- Now I just wonder what would happen in this country if every one of you sent this to every one in your address book, "Bcc:" of course. 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
not really. just a reminder how uneducated americans are and just 1 more reason china is kicking american ass everyday although i think there is a small chance they might back off from google.
First, when XYZ company say's they discovered X amount of oil a few things one has to keep in mind. 1. It's still in the ground. It has not been drilled, there is no Flow from the Sands. 2. All those numbers mean nothing..as it is based on Volumetrics and thats it. It's a guess. Nobody really knows until the wells come on line as commerical production. 3. Drilling to Deepth is a risky business. There are huge factors that could spin the drill bit into the mud and get it stuck...caseing collapse from to much pressure.....etc etc etc...a lot of risk. These are just three points, I can write a list of 100. So, as demand outstrips supply and the Saudis do not allow anyone to ck their Pumps and meters or even do any caculations. Be very aware. Ask yourself , why is China spending 17 billion to buy oil producing fields. and why is oil above the lows of 30? I am biased as I have made my wealth in oil the last 3 years. And I believe I will continue to climb the wealth ladder for the next decade...thanks to oil.
The US Geological Survey at http://www.usgs.gov/corecast/default.asp?CurPage=9&tag=&ID= Episode 38 says that there is 3.65 billion barrels of technically recoverable oil. That may be different than what makes commercial sense.
Lots of hype in that email. Remember, whenever you hear big numbers being thrown around, you have to be a little discriminating - understand concepts such as potential, probable, and recoverable. Here's a good article on the Bakken Formation, written by a petroleum engineer: http://www.theoildrum.com/node/3868 My opinion - it's still cheaper to have our military bases near oil wells (that spew oil practically on their own) halfway around the world then to grind up and bake rock in our own backyard to get at the stuff. By the way, snopes has this to say on the email's origins: http://www.snopes.com/politics/gasoline/bakken.asp