07-23-2008, 10:26 PM
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Legal Alien
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Join Date: Oct 2007
Location: Northwest Ohio
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Posts: 312
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Re: T Boone Pickins energy plan
Quote:
The Bakken Formation
Posted here for 7-21-08.
From an e-mail dated 7-15-08. Thanks, Irene.
Is this true!? You can google it and read other documentation. (Reference.)
Have you ever heard of the Bakken Formation? The U.S. Geological Service issued a report in April ('08) that only scientists and oilmen knew was coming. Man, was it big! It was a revised report (it 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.
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 sizeable 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 this country now has 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!
And, if that didn't throw you to 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, and has more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. What is going on?
They reported this stunning news:
The United States has more oil inside their 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 we have not DEMANDED Legislation out of the Congress in Washington, allowing its extraction, that's 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.
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