Domestice oil future

[Johnny Horsepower]

We are our own worst enemy!!!

FW: OIL - you better sit down.
:



Here's an interesting 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 aformation
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?

Why do the Democrats keep blocking attempts to extract this oil?

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

[Charley Lillard]

http://www.snopes.com/politics/gasoline/bakken.asp

[Johnny Horsepower]

[ QUOTE ]
http://www.snopes.com/politics/gasoline/bakken.asp

[/ QUOTE ]

Read this, when I first read this article a year ago.
I am of the opinion that Snopes, is not always objective in their debunking...........

[427TJ]

There is a reason we rushed into Iraq in 2003. They have all the oil. (And we had to beat the Chinese to it.)

[Kim_Howie]

The funny thing about it we will sit on the oil until it's worth nothing. Think about it, we will have hardly any use for oil in 15 years. It will be an obsolete product same as coal in 15 to 20 years.

[Mr70]

I was thinking the same thing.

[StriperSS]

Well, just to be safe...................

[old5.0]

[ QUOTE ]
There is a reason we rushed into Iraq in 2003. They have all the oil. (And we had to beat the Chinese to it.)

[/ QUOTE ]

Which is why the Iraqis just contracted oil development in the Rumaila field out to British Petroleum and China National Petroleum Corporation (CNPC). CNPC also has exclusive development rights to the al-Ahdab field. The Italian firm Eni is contracted on the Zubair field. Conoco and Exxon are in bidding talks on the West Qurna field, but as of now no American developers are making a dime off Iraqi oil. But we had to get in and get that oil for ourselves. It all makes perfect sense!

[427TJ]

[ QUOTE ]
[ QUOTE ]
There is a reason we rushed into Iraq in 2003. They have all the oil. (And we had to beat the Chinese to it.)

[/ QUOTE ]

Which is why the Iraqis just contracted oil development in the Rumaila field out to British Petroleum and China National Petroleum Corporation (CNPC). CNPC also has exclusive development rights to the al-Ahdab field. The Italian firm Eni is contracted on the Zubair field. Conoco and Exxon are in bidding talks on the West Qurna field, but as of now no American developers are making a dime off Iraqi oil. But we had to get in get that oil for ourselves. It all makes perfect sense!

[/ QUOTE ]

Clearly you are better informed than I. Now please explain to me why there are 14 permanent U.S. military installations in Iraq? Are we just providing the security for all that oil and the other nations you mentioned are cashing-in while we keep it secure?

Also, what are the percentage stakes of each of the aforementioned countries? Do the Chinese have a larger stake than any other country? What is their percentage take of Iraqi oil production?

If what you say is true then we seem to have gone into Iraq and did the fighting and dying for six years (and paid the cost financially, to the tune of one trillion dollars so far) so that other countries, including (Communist) China, could reap the benefit?

Sounds like we did a dumb thing.

[old5.0]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
There is a reason we rushed into Iraq in 2003. They have all the oil. (And we had to beat the Chinese to it.)

[/ QUOTE ]

Which is why the Iraqis just contracted oil development in the Rumaila field out to British Petroleum and China National Petroleum Corporation (CNPC). CNPC also has exclusive development rights to the al-Ahdab field. The Italian firm Eni is contracted on the Zubair field. Conoco and Exxon are in bidding talks on the West Qurna field, but as of now no American developers are making a dime off Iraqi oil. But we had to get in get that oil for ourselves. It all makes perfect sense!

[/ QUOTE ]

Clearly you are better informed than I. Now please explain to me why there are 14 permanent U.S. military installations in Iraq? Are we just providing the security for all that oil and the other nations you mentioned are cashing-in while we keep it secure?

Also, what are the percentage stakes of each of the aforementioned countries? Do the Chinese have a larger stake than any other country? What is their percentage take of Iraqi oil production?

If what you say is true then we seem to have gone into Iraq and did the fighting and dying for six years (and paid the cost financially, to the tune of one trillion dollars so far) so that other countries, including (Communist) China, could reap the benefit?

Sounds like we did a dumb thing.

[/ QUOTE ]

First, I want to apologize. Upon further research, I have learned that Exxon Mobile, in partnership with Royal Dutch Shell, have been awarded the development contract on the West Qurna-1 field. That's one.

As for percentages, I don't have that right in front of me, but I'll be happy to provide a number when I have the time.

The short answer to the rest of your question is that, contrary to popular opinion, this wasn't really a war for oil. This was something that had been brewing for a long, long time. As a good friend in Naval Intelligence has stated in the past, the surprising thing wasn't that we went in, it was that we didn't go in sooner.

We maintain a presence because it's in our best interest to do so. Simply removing Hussein and giving the Iraqi's a "Peace out, ya'll" would have de-stabilized the entire region to level we can't imagine. Literally. The current Middle Eastern situation would look like a friendly basketball game compared to what would have happened if we we were not maintaining a presence. Don't think for a second that our adversaries are not supremely intimidated by that presence, and that their tactical and policy decisions are not affected by that intimidation.

Wish I could get more in-depth, but I think we're pushing the limit of the "No Politcal Posts" policy already.