Why are we buying foreign oil?

Talk about whatever as long as it is not rated X... Just play nice. Posts may be edited or deleted in whole or in part.

Moderators: E_, LC addict, FasterThanYou, crwky

Post Reply
User avatar
katie
MASTER MEMBER
Posts: 2673
Joined: Wed Oct 29, 2008 1:20 pm
Location: Indiana

Why are we buying foreign oil?

Post by katie »

Here's an interesting read, important and verifiable information :

A writer was watching a news program on oil and one of the Forbes Bros. was the guest. 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 2008 that only scientists and oil men knew was coming, but man was it big. It was a revised report (hadn't been updated since 1995) on how much oil was in this area of the western 2/3 of North Dakota , western South Dakota , andextreme eastern Montana ..... check THIS out:

http://bakkenshale.net/bakkenshalemap.html

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 $53.8 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.' 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. And if THAT didn't throw you on the floor, then this next one should - because it's from 2006!

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?

Now I just wonder what would happen in this country if every one of you sent this to every one in your address book.

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
:-?
Even a broken clock is right twice a day ;)
User avatar
E_
Site Admin
Posts: 14802
Joined: Fri Oct 24, 2008 10:26 pm
Marina/Ramp: Currently mostly out of Jamestown but spend a lot of time at the other Marinas.

Pre2012-Conley Bottom Mostly, Waitsboro, Alligator I&II ramps, Leesford, Pulaski County Park (when it has water), Grider, State Dock (via boat), and Jamestown are a few places you might find me.
Location: Kentucky (Lake Cumberland)
Contact:

Re: Why are we buying foreign oil?

Post by E_ »

However they are saying in the article above tha tit is 503 billion barrels and the linked USGS site says 3 to 4.3 Billion Barrels... (Or am I reading it wrong)
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.
A U.S. Geological Survey assessment, released April 10, shows a 25-fold increase in the amount of oil that can be recovered compared to the agency's 1995 estimate of 151 million barrels of oil.
Either way it is still a lot.


Never heard of the Autin Chalk
The Bakken Formation estimate is larger than all other current USGS oil assessments of the lower 48 states and is the largest "continuous" oil accumulation ever assessed by the USGS. A "continuous" oil accumulation means that the oil resource is dispersed throughout a geologic formation rather than existing as discrete, localized occurrences. The next largest "continuous" oil accumulation in the U.S. is in the Austin Chalk of Texas and Louisiana, with an undiscovered estimate of 1.0 billions of barrels of technically recoverable oil.
Buy American, the job you save just might be your own.
User avatar
TheOneAndOnlyROOSTER
SUPER Member
Posts: 746
Joined: Thu Mar 26, 2009 7:43 pm
Marina/Ramp: Burnt Store Marina Florida
Location: In front of Y O U

Re: Why are we buying foreign oil?

Post by TheOneAndOnlyROOSTER »

One other reason we might be buying their oil, is because our's is floating around in the Gulf of Mexico... :( :( :(
MY BABY WAS BOTTLE FED, IS YOURS???
Image
User avatar
Nervous Wreck
MASTER MEMBER
Posts: 1421
Joined: Thu Nov 06, 2008 7:50 am
Marina/Ramp: old Alli-1
Location: Enon,Oh.

Re: Why are we buying foreign oil?

Post by Nervous Wreck »

I've read about this discovery before, and we are all a bunch of dumb a$$es in this country for letting these NON-political "tree huggers" push US around! X( We have ALL that "PRIME" oil ON LAND...and we're 150 miles 'offshore' drilling um-teen miles 'under' WATER. Tell me that isn't STUPID! X(

How can we hit our STUPID politicians in the head with a BIG A$$ hammer and wake them up??? Dumb, dumb, dumb!!
It would be easy for them to tell the 'tree huggers' to "kiss a$$". Look at what they are doing now. (our gov) X(
User avatar
katie
MASTER MEMBER
Posts: 2673
Joined: Wed Oct 29, 2008 1:20 pm
Location: Indiana

Re: Why are we buying foreign oil?

Post by katie »

Rooster, even that oil does not belong to us.... Brits got ahold of that one! ;)

Nervous, I agree, our politicians have been pushed over for the EPA, and I agree (someone said it earlier), I think the EPA is being funded heavily by the Oil Companies.... don't know this for fact, but where do they get their money????

I think the gov't, EPA, and Oil companies get together for orgi.... um "backscratchin's more than we'll ever know. L-)
Even a broken clock is right twice a day ;)
User avatar
$parechange
MASTER MEMBER
Posts: 4195
Joined: Tue Oct 28, 2008 9:56 am

Re: Why are we buying foreign oil?

Post by $parechange »

Tree huggers have always been a large contributor to the political parties. It will never change as long as they are getting their way. X(
Post Reply

Return to “General Talk”