For all that believe we have no oil Here is a little thing you may find of interest. As you know Cruz Construction started a division in North Dakota just 6 months ago. They sent every Kenworth (9 trucks) we had here in Alaska to North Dakota and several drivers. They just bought two new Kenworth’s to add to that fleet; one being a Tri Drive tractor and a new 65 ton lowboy to go with it. They also bought two new cranes (one crawler & one rubber tired) for that division. Dave Cruz said they have moved more rigs in the last 6 months in ND than Cruz Construction moved in Alaska in the last 6 years. Williston is like a gold rush town; they moved one of our 40 man camps down there since there are no rooms available. Unemployment in ND is the lowest in the nation at 3.4 percent last I checked. See anything in the national news about how the oil industry is fueling North Dakotas economy? Subject : OIL ---you better be sitting down when you read this ! WHY AREN'T WE ALL SCREAMING OUR HEADS OFF LIKE HAPPENED IN THE BUSH ADMINISTRATION WHEN GAS WENT OVER $2@GAL ? You "will" pay $5 a gallon + again, and you won't complain loud enough to make a difference, RIGHT! Here's an astonishing read. Important and verifiable information : About 6 months ago, the 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, 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.' 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? Got your attention yet? Now, while you're thinking about it, do this: Pass this along.. If you don't take a little time to do this, then you should stifle yourself the next time you complain about gas prices - by doing NOTHING, you forfeit 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.. 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
Obama kind of stepped in it the other day. In a speech or answer to a town hall type question, he said the US is producing as much oil as it ever has. Turns out our oil production was 2x what it is now back in ~1970. There have been a few presidents and congresses since, and they all share the blame for our situation. But Obama was either lying his ass off or clueless. It is a pretty big deal, especially when you consider the price we pay (in all respects) for getting our oil elsewhere.
US uses 6.8 billion barrels a year... the link says the find is 3-4.3 billion barrels... if that is 8 times times the oil in Saudi Arabia we are running out of oil very fast.
Yeah, Denny, I have to believe a little of both. He stated on tv just the other day that we are an "oil poor" country, and some trash to the effect that we had to grin and bear it until we could become not Dependant upon oil.
Huh? That's on the low end. Another estimate in the link says there are 2,000,000,000,000 barrels (that's trillion, not billion) in the area.
I did read it. The chain email claims 500 billion barrels... but the official estmate is actually 3-4.3 billion barrels.
I have no problem in new sources of energy, but it's silly to try to force it before it's economically viable when we have so much coal, oil and natural gas. Hell, even our uranium reserves are massive. The market will find the next big new source of energy; the profits are too big for it not to happen. The government is picking winners and losers, and that's the cause of our high energy prices.
"Technically recoverable" as of three years ago. As technology advances, so does the recoverable oil. That's not the total reservoir. http://www.usgs.gov/newsroom/article.asp?ID=1911
8 billion now recoverable, three years later. http://seekingalpha.com/instablog/5...-8-billion-barrels-of-oil-are-now-recoverable So, it's gone from 151 million in 1995, to 3 billion in 2008, to 8 billion in 2011. As I said, as technology advances, so will our capacity to get at more of this huge find. Instead, we're using 1995 technology to drill in the area. Authorize more permits, and let's get some modern technology drilling for this oil.
Another update now say 24 billion in recoverable oil, and the state of North Dakota is requesting an updated official estimate using modern technology, as opposed to 2008 technology.
http://www.snopes.com/politics/gasoline/bakken.asp http://www.factcheck.org/2009/03/us-offshore-oil-reserves/ Browse > Home / Ask FactCheck / U.S. Offshore Oil Reserves U.S. Offshore Oil Reserves March 16, 2009 Bookmark and Share Q: Are anti-drilling forces blocking access to the world’s largest oil reserve in the western U.S.? A: The Bakken Formation touted in a chain e-mail isn’t the world’s largest oil reserve. The amount of oil it contains, according to the U.S. Geological Survey, is less than one one-hundredth of the estimate cited in the e-mail. FULL QUESTION I have a friend who always sends me this sort of thing, which I can never verify. sounds like someone selling swamp water… thanks. Chain e-mail: If you start reading and "don’t believe" go to the bottom of the page and click on the US Government link. You’ll get the same information. ⬐ Click to expand/collapse the full text ⬏ FULL ANSWER We’ve received this e-mail from our readers several dozen times, and a Google search for some of its claims turns up hundreds of results. Unfortunately, it is false. It combines and twists several different news stories and studies into a longer tale of sound and fury that ultimately signifies nothing (factually anyway). The tale begins with an exhortation telling the reader to "go to the bottom of the page and click on the US Government link" for proof of the e-mail’s veracity. Well, we did. And the link to a U.S. Geological Survey press release from April 2008 directly contradicts the e-mail’s main assertion. The e-mail says that the Bakken Formation oil reserve (which is located in the Dakotas and Montana) "has the potential to eliminate all American dependence on foreign oil" and is estimated to hold 503 billion barrels of oil. That’s not true. It credits the USGS report from 2008 as the source of this information. It’s not. The glowing language and more optimistic estimates about Bakken quoted in the e-mail can be traced to a 2006 Wall Street Journal story reprinted in the Pittsburgh Post Gazette. But the anonymous author of this e-mail omits an important caveat from that story, which said that "the lofty predictions remain unproven, and skeptics remain." And there was an incomplete USGS draft study of the Bakken from 2000 that included estimates ranging up to 500 billion barrels. But the Energy Information Administration explained in 2006 that it was not peer-reviewed and cautioned readers to wait for the official USGS estimate: The official estimate, contained in the USGS press release from last year, was a substantially smaller estimate of technically recoverable oil: 3 billion to 4.3 billion barrels. The e-mail cites James Bartis as a "lead researcher of this study," but he was actually a RAND researcher who led a different, related study. Bartis wrote a 2006 report on oil shale development and resources in the United States that said "the midpoint in our estimate range, 800 billion barrels, is more than triple the proven oil reserves of Saudi Arabia." That’s for the entire U.S., not Bakken alone. But Bartis also cautioned that the technology to extract oil from the fields was not yet commercially viable and said that even "under high growth assumptions, an oil shale production level of 1 million barrels per day is probably more than 20 years in the future, and 3 million barrels per day is probably more than 30 years into the future." Nowhere in his study did Bartis say that Bakken has "more than 2 trillion barrels," as the e-mail falsely claims. Snopes.com reviewed a similar mutation of this e-mail and traced the 2 trillion barrels of oil estimate to a tout sheet from the Stansberry Report Online, a group referenced in the e-mail. Snopes also noted that Stansberry is an investment newsletter trying to sell subscriptions. The Stansberry site appeared to be down when we tried to access it, but the tout sheet was reproduced here. Snopes ultimatley ruled the e-mail to be a "mixture of true and false information." We agree. But we’d add that the email’s implication that politicians, environmentalists and the media are preventing oil drilling in the Bakken is decidedly false. The Bakken has already seen drilling and was a principal cause of the recent increase in U.S. proven oil reserves, according to the EIA.
A big issue with some reserves is "economic viability." If it costs $200/barrel to get out of the ground, it's 2x more expensive than oil is today. At some point, oil will be $200/barrel from other sources, so people will get this oil out of the ground then.
http://www.nd.gov/ndic/ic-press/bakken-form-06.pdf History of Bakken Oil Generation Estimates A landmark paper by Dow and a companion paper by Williams (1974) recognized the Bakken as a tremendous source for the oil produced in the Williston Basin. These papers suggested that the Bakken was capable of generating 10 billion barrels of oil (BBbls). Webster (1982, 1984) as part of a Master’s Thesis at the University of North Dakota further sampled and analyzed the Bakken and calculated hydrocarbon generation capacities to be about 92 BBbls. This data was updated by Schmoker and Hester (1983) who estimated that the Bakken was capable of generating 132 BBbls of oil in North Dakota and Montana. Price (unpublished) used a more complete database and estimated that the Bakken was capable of generating between 271 and 503 BBbls of oil with an average of 413 BBbls. New estimates of the amount of hydrocarbons generated by the Bakken were presented by Meissner and Banks (2000) and by Flannery and Kraus (2006). The first of these papers tested a newly developed computer model with existing Bakken data to estimate generated oil of 32 BBbls. The second paper used a more sophisticated computer program with extensive data input supplied by the ND Geological Survey and Oil and Gas Division. Early numbers generated from this information placed the value at 200 BBbls later revised to 300 BBbls when the paper was presented in 2006. ... A sophisticated computer program with extensive data input supplied by the ND Geological Survey and Oil and Gas Division places the Bakken generated value at 200 – 300 BBbls. How much of the generated oil is recoverable remains to be determined. Estimates of 50%, 18%, and 3 to 10% have been published.
Re: For all that believe we have no oil Thought you didn't believe in computer modeling, Denny. barfo
Re: For all that believe we have no oil I wouldn't use them as the sole source of proof of anything. I quote the article: "How much of the generated oil is recoverable remains to be determined. "
They certaily are extracting a lot of oil in Canada now with modern techniques... but it also turns turns the land into horrible mines. Hell... I don't care about ND... lets get the oil. Seriously though... the last may look horrible during the extraction but I am sure we have techniques to restore it these days. Texas is going to be totally pissed though... and I lived in Texas before... you don't want to piss them off.
Well guys, as we can see, these opinions are all over the place. I would have not even thought about this but I had just caught a piece on NPR that stated that there had been a very large discovery in Alberta Canada. I have also been told by Profs here in town that there are massive reserves available and that the dollar per barrel cost is now like in the Canadian field. Their oil is in a sand and harder to extract than ours, but they have re elected a pro drilling government and will go forward, where as we have an anti drill governmental agenda in place.
