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Crude Oil prices
Subject:
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 WillistonBasin , 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. |
interesting, the way i see it :
i live 30 minutes from the largest chain of freshwater sources, and a ten hour drive from the biggest oil source. When chit goes down....im so screwed. you could live without oil, but not without water. |
Sooo not to stir the pot to get people fired up and have an internet debate but this is MY OPINION, take it how you want. :icon_badrazz:
The way I see it is we have not tapped "our" oil fields because of a few reasons. Once they are tapped there is the chance of invasion of our shores over the oil wells etc. Once all of these other oil fields across the pond are drained or dang near empty who do you suppose will have the upper hand? The states will be in control of the crude market and we can once again use this leverage to become the world's biggest super power again. So they way these political people and our gov't and all of the other people we always hear about and don't see are looking at it; who cares that tapping the oil fields will creates a butt load of jobs for the american people that are now in a "economic recession", who cares that it will lower gas prices and help get the states out of an "economic recession" Someday in the far off future the states will again become The Super Power because of these fields and that ultimately is what the "American People" & Gov't want is to be from the best country in the world, again... That being said http://knowyourmeme.com/i/000/047/71...jpg?1272322718 :icon_hide: |
$5 a gallon would be nice, its currently £1.26 a litre here :icon_doh:
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The USGS study you linked at the bottom of you post is the revised assessment of the Bakken oil fields. Notice the estimated barrels of oil went from 500 billion to 3.65-4 billion barrels. The U.S. imports 10 million barrels a day or 3.65 billion a year. So best case scenario is that it would make up for imported oil for one year +/-.
They are currently recovering oil from Bakken, but it will have little affect on the price of oil. As for the Green Valley formation in Colorado, Utah and Wyoming, much of the oil is unrecoverable by current means. At best, it will be able to produce 2 million barrels a day, but the technology to do so is 20 years away. If you want to get pissed at somone, get pissed at oil/commodities speculators who are driving the cost of oil and other everyday goods up. |
Get over it. It is a limited fossil fuel and the fact that it is so cheap is a gift.
If you want to bitch about oil execs making money - move to Cuba. Capitalism works. If you want cheaper gas don't buy as much. It's all supply and demand. If you want to bitch about speculators answer me this - when Crude commodity prices fell to 30 bucks a share a few months ago why didn't you buy? You wouldn't be bitching if you poured everything you owned into it back then. Personally I am glad gas is going up - from an environmental standpoint it is the only thing that will get us to consume less and that IS a positive. |
So the plan is to buy everyone else's oil and sit on a huge domestic supply and when it runs out everywhere else....rule the world....Buuuuha ha ha. What shall we do tonight Pinky?
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Originally Posted by Seafordguy
(Post 1019939)
Get over it. It is a limited fossil fuel and the fact that it is so cheap is a gift.
If you want to bitch about oil execs making money - move to Cuba. Capitalism works. If you want cheaper gas don't buy as much. It's all supply and demand. If you want to bitch about speculators answer me this - when Crude commodity prices fell to 30 bucks a share a few months ago why didn't you buy? You wouldn't be bitching if you poured everything you owned into it back then. Personally I am glad gas is going up - from an environmental standpoint it is the only thing that will get us to consume less and that IS a positive. I don't play commodities. It is a highly volatile market and you can lose money just as easily as you can make it. But blaming the evironmentalist for high oil prices is ridiculous. In the 5 dollar gas prices won't affect me as I hardly drive. If anything it will get me on the motorcycle more. :icon_bike: |
Originally Posted by ko67
(Post 1019961)
But blaming the evironmentalist for high oil prices is ridiculous.
:icon_bike: |
by the time the oil runs out in all other countries (they all will have cars that run on different source of power). US will have cars that run on gas for about year longer than the rest of the world.
once again US is importing means of transportation from other parts of the world. mainly japan and germany since they are already moving rapidly in that direction. once again the economy and all the jobs are shot to hell. what we have is heck of a lot of corn and this could be the next fueling power of this country. thats what i think. besides all that gas in the US is a lot cheaper than the rest of the world. we should be happy that it doesnt cost about $50 just to fill up our bikes. |
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