Nickodell
Donation Time
God Bless Shell oil
AKA The Anglo-Dutch Oil Company. The Anglo-Iranian Oil Co. changed its name to BP some years ago. I wonder why?
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The sky is falling The sky is falling
- Thread starter skywords
- Start date
AKA The Anglo-Dutch Oil Company. The Anglo-Iranian Oil Co. changed its name to BP some years ago. I wonder why?
Nickodell
Donation Time
At the risk of having this thread moved to the Rants section:
OIL - you better be sitting down
About 6 months ago, a news program was discussing 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:
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 $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.
GOOGLE it, or follow this link. It will blow your mind.
http://www.usgs.gov/newsroom/article.asp?ID=1911 <http://www.usgs.gov/newsroom/article.asp?ID=1911>
<http://www.usgs.gov/newsroom/article.asp?ID=1911 <http://www.usgs.gov/newsroom/article.asp?ID=1911> >
DRILL . . . DRILL NOW ! ! !
OIL - you better be sitting down
About 6 months ago, a news program was discussing 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:
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 $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.
GOOGLE it, or follow this link. It will blow your mind.
http://www.usgs.gov/newsroom/article.asp?ID=1911 <http://www.usgs.gov/newsroom/article.asp?ID=1911>
<http://www.usgs.gov/newsroom/article.asp?ID=1911 <http://www.usgs.gov/newsroom/article.asp?ID=1911> >
DRILL . . . DRILL NOW ! ! !
Is this directed at me? If so, then no, I don't know what you meant. I do know what you said and I'm not a business man, just a useless retired gov't parasite.
Yes, petroleum goes way beyond fuel, that an important reason we should stop burning it as soon as possible. We're going to be needing it for other uses for a long, long time. Why burn it as though it was replaceable?
Bill
Nick, ever heard of Google? Its a marvelous device, you should consider using it before passing on those serial lies and half truths.
Wiki reveals the Bakken has been known since 1951 and has been in production from the late 50's. The vast majority of the oil is tied up in shale, estimates of the recoverable portion are usually below 10%. Way below, with some saying the realistic amount is about 1%. Recently, using new technology, more pools of crude have been discovered and are being pumped. Additional exploration for usable crude is currently being conducted. But the Bakken has not been developed because as an oil producing region it sucks as the oil is so expensive to produce. Not because of the environmentalists.
For a realistic professional estimate of the Bakken, check out this site.
http://www.theoildrum.com/node/3868
Bill
Wiki reveals the Bakken has been known since 1951 and has been in production from the late 50's. The vast majority of the oil is tied up in shale, estimates of the recoverable portion are usually below 10%. Way below, with some saying the realistic amount is about 1%. Recently, using new technology, more pools of crude have been discovered and are being pumped. Additional exploration for usable crude is currently being conducted. But the Bakken has not been developed because as an oil producing region it sucks as the oil is so expensive to produce. Not because of the environmentalists.
For a realistic professional estimate of the Bakken, check out this site.
http://www.theoildrum.com/node/3868
Bill
sammaw@bellsout
Silver Level Sponsor
Yes, but the idea there is a BUNCH of oil out there, ready for the taking but for the environmentalist, is a load of crap. You can have all the "facts" correct but one (say, cost of production) and it makes the whole message a lie.
Bill
sammaw@bellsout
Silver Level Sponsor
"Yes, but the idea there is a BUNCH of oil out there, ready for the taking but for the environmentalist, is a load of crap. You can have all the "facts" correct but one (say, cost of production) and it makes the whole message a lie."
From Bill
Bill, Agreed
Lots of Hydrocarbon out there in the shale areas, but it probably easier to get oil out of old asphalt. Production costs make it practically unuseable unless crude gets extremely high. Theres a lot of hydrogen and oxygen in the sea, but it cost a lot to get it to a useable form. If the econonic jump bars are cleared, I think there could be an acceptable environmental method for production, but as long as there are less expensive methods to get oil out of the resevoirs, there is no need to exploit the shale for oil. The shale areas are very productive nat gas areas, I think.
But I really don't have a problem using foreign oil at this point. If it really is a finite resource, I think it would be better to use up someones elses oil before using ours.
From Bill
Bill, Agreed
Lots of Hydrocarbon out there in the shale areas, but it probably easier to get oil out of old asphalt. Production costs make it practically unuseable unless crude gets extremely high. Theres a lot of hydrogen and oxygen in the sea, but it cost a lot to get it to a useable form. If the econonic jump bars are cleared, I think there could be an acceptable environmental method for production, but as long as there are less expensive methods to get oil out of the resevoirs, there is no need to exploit the shale for oil. The shale areas are very productive nat gas areas, I think.
But I really don't have a problem using foreign oil at this point. If it really is a finite resource, I think it would be better to use up someones elses oil before using ours.
But in the meantime we are their mercy as to cost and what will we use for petroleum for manufacturing purposes when it's cost becomes several hundred dollars a barrel?
I really think we should be looking ahead a few decades, not just next year. But pay no attention to me, I've been preaching this for several years now. No one seems to care as long as they can afford to fill'er up. When they can't, the bitchin (no action) begins. Remember what it was like when gasoline was $4.00 U.S.?
Bill
Bill
wipeout
Donation Time
Like all the other " I told ya so's " , I'll just wait till Isreal or Iran exchange nukes and the speculators raise the price of a barrel to 200 dollars. We'll be paying 10 dollars overnight and your tunes will change.
It's amazing, and pathetic, the delirium that infests the fantasy minded people that WANT to not depend on ARAB sources, although we import from Canada and Mexico more, and NOT WANT to drill for our own. Simply amazing.
Do you really think wind, solar, battery, fusion or some other source, far from development thank you, is going to purge us from petroleum? What kind of dark age do you want to plunge us into with your polly-anna scheme of being free from oil dependency?
I know. Lets rework Wall Street, put the government in charge of the exchange, then they can speculate the cost of a barrel of crude. Yeah...and if we centralize the monetary system in D.C., along with states rights, then we can count on a great social utopia where everyone will pay nothing for anything and the rainbows and birds will chirp all the day long.
Last post on this subject. The sky has fallen.
It's amazing, and pathetic, the delirium that infests the fantasy minded people that WANT to not depend on ARAB sources, although we import from Canada and Mexico more, and NOT WANT to drill for our own. Simply amazing.
Do you really think wind, solar, battery, fusion or some other source, far from development thank you, is going to purge us from petroleum? What kind of dark age do you want to plunge us into with your polly-anna scheme of being free from oil dependency?
I know. Lets rework Wall Street, put the government in charge of the exchange, then they can speculate the cost of a barrel of crude. Yeah...and if we centralize the monetary system in D.C., along with states rights, then we can count on a great social utopia where everyone will pay nothing for anything and the rainbows and birds will chirp all the day long.
Last post on this subject. The sky has fallen.
Nickodell
Donation Time
Firstly, anyone who depends on Snopes for factual and unbiased analysis is deluding themselves. I used to take them as gospel until I found a distinct left-wing bias by Barbara and David Mikkelson, the writers/owners. For example: http://www.freerepublic.com/focus/f-news/968235/posts
There are several far more independent myth buster sources.
Of course, the enviro-whackos are going into hysterics about the prospect of large-scale recovery of the Bakken deposits, the same way that they're organizing a huge campaign to stop the recovery of trillions of cubic feet of the cleanest hydrocarbon fuel, natural gas, right here in Pennsylvania.
Snopes is/are obviously basing their opinion on an earlier 1995 USGS Assessment of Resources, which estimated that only 151 million barrels were recoverable. What do government agencies think now?
An April 2008 US Geological Survey report estimated the amount of technically recoverable oil within the Bakken Formation at 3.0 to 4.3 billion barrels with a mean of 3.65 billion, plus 1,850 billion cubic feet of natural gas. The state of North Dakota also released a report that month which estimated that there are 2.1 billion barrels of technically recoverable oil in the Bakken.
A report from the Energy Information Administration, Office of Oil and Gas, Reserves and Production, reads:
[Regarding feasible recoverable oil] "The success of horizontal drilling and fracturing efforts in Montana are prompting reevaluation of earlier resource assessments ... In contrast to the older USGS estimate ... with new horizontal drilling and completion technology taken into account, the technically recoverable resource base for the Bakken Formation is potentially much larger."
The USGS's estimate of more easily recoverable oil from Bakken is around 413 billion barrels, with possibly 503 billion. In contrast, "the current estimate of all technically recoverable crude oil resources in the United States (except Bakken) is 175 billion barrels."
In other words, the USGS estimates that Bakken's technically recoverable oil equals up to three times all other current US domestic sources, including Alaska's current production and even the areas of Alaska like ANWR that cannot be exploited because it might affect the mating habits of moose.
Aha, you say: "technically recoverable" doesn't mean economically. True. If the cost per barrel was all that mattered I would say only pump the easy part. But cost is not all that matters. Oil is the most important, and vulnerable, strategic resource. We should have learned in 1973 and 1979 that having a substantial part of our industrial, economic and social life dependent on oil from countries that not only do not like us, but actively hate us and finance people who are determined to kill us, is lunacy. And since then the proportion of oil that is imported has more than doubled.
Common sense says that we should recover all the oil and natural gas that we can right here in the 50 states, irrespective of the cost.
There are several far more independent myth buster sources.
Of course, the enviro-whackos are going into hysterics about the prospect of large-scale recovery of the Bakken deposits, the same way that they're organizing a huge campaign to stop the recovery of trillions of cubic feet of the cleanest hydrocarbon fuel, natural gas, right here in Pennsylvania.
Snopes is/are obviously basing their opinion on an earlier 1995 USGS Assessment of Resources, which estimated that only 151 million barrels were recoverable. What do government agencies think now?
An April 2008 US Geological Survey report estimated the amount of technically recoverable oil within the Bakken Formation at 3.0 to 4.3 billion barrels with a mean of 3.65 billion, plus 1,850 billion cubic feet of natural gas. The state of North Dakota also released a report that month which estimated that there are 2.1 billion barrels of technically recoverable oil in the Bakken.
A report from the Energy Information Administration, Office of Oil and Gas, Reserves and Production, reads:
[Regarding feasible recoverable oil] "The success of horizontal drilling and fracturing efforts in Montana are prompting reevaluation of earlier resource assessments ... In contrast to the older USGS estimate ... with new horizontal drilling and completion technology taken into account, the technically recoverable resource base for the Bakken Formation is potentially much larger."
The USGS's estimate of more easily recoverable oil from Bakken is around 413 billion barrels, with possibly 503 billion. In contrast, "the current estimate of all technically recoverable crude oil resources in the United States (except Bakken) is 175 billion barrels."
In other words, the USGS estimates that Bakken's technically recoverable oil equals up to three times all other current US domestic sources, including Alaska's current production and even the areas of Alaska like ANWR that cannot be exploited because it might affect the mating habits of moose.
Aha, you say: "technically recoverable" doesn't mean economically. True. If the cost per barrel was all that mattered I would say only pump the easy part. But cost is not all that matters. Oil is the most important, and vulnerable, strategic resource. We should have learned in 1973 and 1979 that having a substantial part of our industrial, economic and social life dependent on oil from countries that not only do not like us, but actively hate us and finance people who are determined to kill us, is lunacy. And since then the proportion of oil that is imported has more than doubled.
Common sense says that we should recover all the oil and natural gas that we can right here in the 50 states, irrespective of the cost.
Nick, the Bakken is pumping oil, exploration is continuing to find recoverable oil regardless of what environmentalists are doing in PA. Did you check out my link to the Oil Drum assessment? Its really pretty good. $4.3 billion bbls is a lot of oil, but we use over 7 billion a year. So recovery of the economically recoverable oil is no panacea. A help, yes. Not the long term solution your post suggests.
You mentioned that cost is not all that matters. I can see some merit in that statement, but I cannot see any company developing $150 oil for a $75 market. Are you suggesting we should subsidize production from the Bakken or other formations?
Bill
You mentioned that cost is not all that matters. I can see some merit in that statement, but I cannot see any company developing $150 oil for a $75 market. Are you suggesting we should subsidize production from the Bakken or other formations?
Bill
Nickodell
Donation Time
Absolutely. We (or rather, they) throw billions of dollars at dumb stuff like "Green Energy," which will probably never make a dent in our energy needs (and all the windmills and solar panels are going to be made overseas) and are not needed (the whole Global Warming scam is unfolding) so why not divert some to developing our own reserves, whatever the cost? All administrations are to blame for the situation we are in now, but that is no excuse for doing nothing.
America is, and has been, the greatest source of creative genius for a century. We took an esoteric physics concept and developed the A-bomb in three years. With computer cababilty that today is dwarfed by the cheapest laptop (or play station), we went from John Kennedy's statement of intent to landing a man on the moon in less than nine years. That kind of initiative and investment put into oil, gas, coal and nuclear, fully exploiting all our offshore, Alaska and inland oil fields, plus nuclear and clean coal, could indeed make us energy independent in a few years.
But so long as we are held hostage by environmental extremists and political obstinacy based on opportunism and bogus science, the opportunity drains away by the month. Someone who shall be nameless pronounced, in ringing tones, in 2008 "we put a man on the moon in eight years, so don't tell me that America can't develop clean coal," and then, a year later, said that coal is essentially our enemy, and he intended to make it so difficult and expensive to use that "I'll double your electricity costs."
I don't quite under the dig about the cost of clean coal. You make it sound as though clean coal can be cheap. Can it? I have been laboring under the delusion that cost was one of the major issues associated with clean coal. Are you sure the correct quotation is not "It'll double your electric bill", not "I'll double etc."
I heard someone on the tube last week promoting clean coal. I think it is the same one you are refering to, so it still on the agenda. As are the nukes that are getting started in Georgia.
You sound angry. Lighten up.
Bill
I heard someone on the tube last week promoting clean coal. I think it is the same one you are refering to, so it still on the agenda. As are the nukes that are getting started in Georgia.
You sound angry. Lighten up.
Bill
RootesRacer
Donation Time
Someone is going to have to splain to me how any coal could ever be "clean".
Last I checked coal is a hydrocarbon, and if we are planning on burning the stuff, doesnt that still make CO/CO2?
Its one thing to not put soot in the air, but how the hell can all these warming alarmists (Obamament) get behind "clean coal"?
Last I checked coal is a hydrocarbon, and if we are planning on burning the stuff, doesnt that still make CO/CO2?
Its one thing to not put soot in the air, but how the hell can all these warming alarmists (Obamament) get behind "clean coal"?
As I understand the issue, clean coal involves capturing the Co2 and either injecting it underground or sequestering it. That's what makes it clean. How its done, I do not know. There are some plants on line that use the Co2 to pressurize existing oil fields to enhance production. For other plants, maybe make a few million more tons of limestone?
Bill
Bill
skywords
Donation Time
I think it should all be used to carbonate Guinness. If their is excess then brew more Guinness.
