They Claim There's No Oil...Latest North Dakota Bakken Oil Field Estimates..........

Before we go into the Latest Department of Interior report on the Bakken Oil Fields, let's remember that Obama and George Soros used taxpayer monies to personally invest in the Brazilian oil giant Petrobras.

Okay, onto the Dept. of Interior report:



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," reportsThe 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?

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3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation—25 Times More Than 1995 Estimate—
Released: 4/10/2008 2:25:36 PM

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.

www.usgs.gov...

But if we deplete our oil then we don't have the upper hand. When I say "we" I really mean "they" since I'm never going to see any of that money. Why do you think we aren't making more efficient vehicles or doing more to reduce our dependency of oil? Deplete other countries first, then the US comes out with efficient cars and other ways to reduce our own consumption of oil. Then jack the price of oil through the roof knowing that the other countries are still dependent. It's profit all the way around.

Obama Underwrites Offshore Drilling for Brazil's Petrobras

online.wsj.com...

reply to post by MJZoo


Obama can give Government Motors billions more to make small cars that are easily crunched under big semi-trucks on the highways, people won't buy the death traps.

Drill, baby, drill.

I'd love to see OPEC come to us for a change, hat in hand.

reply to post by beezzer


Stubborn, Wealthy and Waiting for an ‘Oil Sheik’

Oct 1, 2010 ... These days when mansions are seeing 50% price cuts who's going to ... “They're waiting for the oil sheik or the Russian billionaire,” Mr. Shapiro says.......

blogs.wsj.com...

reply to post by beezzer


Don't forget Russia. Russia controls a large percentage of the oil that goes to the rest of Europe. All those oil fields and pipelines in Kajekistan and other countries we never hear of.

There IS a lot of oil here in North Dakota. They are increasing drilling and production, it's just a slow process because of the remoteness of the place and the simple fact that there is no infrastructure. They have tent-cities and thrown-together camps up there for workers. There is little available real-estate and the roads are a total mess.

Also, an interesting (somewhat off-topic) side note, Williston, ND, a town of about 12 or 13 thousand people has the second highest producing McDonald's in the WORLD. Just gives an idea of the activity up there.

You do know the US alone uses 20 billion barrels of oil per day. So by your estimate,the Anylargest oil reserve in teh world" would last us about 3-4 hours.

Anytime prices go up, someone always touts that we need to drill our own little reserves as a solution. It shows you have no idea how the oil industry works, and you don't solve any problems. You just created a 3 hour bandaid.

There is a reason that President Obama came out and said the prices are now going to be investigated. They are being manipulated. And the turmoil in the middle east is creating excuses, not problems.
Supply is up and Demand is actually down. If you look at the history of gas spikes, they always follow a mid east conflict.
So if supply is up and demand is down, why are prices skyrocketing? I don't think it is a coincidence the prices in the US dropped ten cents immediately upon the Presiden'ts announcement.

reply to post by ccponzi


Thats exactly what I've been saying for months now but fell on deaf ears; and this too will fall on deaf ears because as long as the Americans don't dig up their own backyards, it gives them a God given right to go dig up another neighbourhood in a country that does'nt belong to them.

reply to post by kalunom


Oil boom towns. Shades of the gold rush days.

I hear the Canadian oil companies are taking control. What with the massive amounts of Sand Oil production going on in Canada.

Canada Oil Sand
www.cdnoilsands.com...

reply to post by nixie_nox


You got to love Liberal Socialist Math.

yeah trillions of barrls

canada needs 70 USD (valued in 2010) to break even in the Tar sands
but that isn't Canada
that is the same nultinationals
that control ALL the locked up oil in north america
there is alsi a HUGE CLEAN coal deposit out west in the US that would do the whole deal for centuries too
there is the north slope
there is a huge new natural gas deposit on the east coast

the west is awash in
ARTIFICIAL SHORTAGES
enjoy

just like the herion dealers down in the school yard....

reply to post by ccponzi


Oil is a naturally occurring Hydrocarbon and cannot be "depleted" .. Hydrogen and Carbon are the two most abundant elements in the universe, and in the form of oil is simply part of the Earths process. Since it cannot be depleted then it must be made "scarce" .. America will never drill for oil, because it would make it to cheap and thus no profit for oil companies.

reply to post by Danbones


I'm sitting on the beach in South Florida looking at ALL those Canadian tourists who somehow have more money than we Americans can count.

I've been watching Canadian tourists for decades. And every year they show up on the beaches with more money than they had the year before.

And there goes yet another bunch of Canadians onto the South Florida golf courses, spending money like there's no tomorrow.

Those dang Canadians know something many Americans don't know. That's for sure.

Ya know what? It's dang hard to find a POOR CANADIAN anymore. They don't tip worth a crapola in restaurants. But they sure have pocket fulls of cash.

Lim Tuker
the main Bilderberger slueth who has been following this for years
accurately ( guess who controls the oil companies through it's menbers ownership )
just said the newest news is:

gas through the roof in the WEST
economic collapse....

now you'll lik the boot for a donut..and a liter of gas
and maybe the TV will get turned on for a couple hours tonight

the estimates for the Bakken oil field are over blown..

www.snopes.com...

I always question the accuracy of estimates. I will say that oil field is providing jobs for many men who would otherwise not be working right now. I know several from my home town that have moved out there, many away from their families, just to work. It would really be nice if the estimates are correct, though. Nicer still if we in this country could actually benefit from the oil in our own backyard.

Has to be untrue. Otherwise why invade all these other countries for oil when you have loads at home. Or maybe they invading so China doesn't get its filthy mitts on the ME oil. Hmmm.

Canadians are not making any more then their southern cousins.

What you see is a group of idiots thinking their houses are a gold mine and taking out equity from them and spending it like rock stars. Example, I live in Vancouver. I bought my house in 2001 for 250k. Today the government assessment tells me its worth 870k so I could take out a 500k line of credit against my house. Im not joking and i'm only thirty making an average wage!

People are doing this all over this country and if interest rates rise were going to have the same market crash as you guys saw and are still living through.