Who Has The
World's Most Oil?
OIL
Date: Fri, 27
Jun 2008 07:48:49 -0700
Like you, I've been absolutely blown away
by what has happened to the price of a gallon of gas. More like just
plain MAD! But it's time (way past time, obviously) for all of us to put
up or shut up. And by that I mean quit belly-aching to one another
(trust me - I do it as well - so I'm talking to myself, too, here!) ...
and DO SOMETHING. And trust me ... not buying gas from one or two
of the 'Big Boys' for a month, or electing to not buy gas on a given day.
is not the answer. The answer is one I know you know, and
have heard many times before from people a lot more well-versed in this than
me: LESSENING our dependence on foreign
oil.
Just poking around the Internet recently,
I simply "Googled" the search "Untapped U.S. Oil Reserves," and
the result (like the current price of a gallon of gas - BLEW ME AWAY! Go
ahead, take a minute and see for yourself! Never mind, I'll share
some of the highlights I
found.
1. Ever
heard of the Bakken Formation?
GOOGLE it. I did, and again, BLEW my
mind. The U.S. Geological Service issued a report in April
('08) that only scientists and oilmen/women knew was coming, but man was
it big. It was a revised report (hadn't been updated since '95) 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 sizeable 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." And 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 41 years
straight.
If THAT didn't throw you on the floor,
then this next one should - because it's from TWO YEARS AGO,
people!
2. "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 -
more than 2 TRILLION barrels. On August 8, 2005 President Bush
mandated its extraction.
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 we've not D E M A N D E D
legislation to come out of Washington allowing its extraction,
that's 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 "Big Oil" will drop its
price - even with this find? Think again! It's all about the
competitive marketplace, and if they can extract it (here) for less, they
can afford to sell it for less - and if they DON'T, others will. It will
come down - it has to.
Got your attention/ire up yet? Hope
so! Now, while you're thinking about it ... and hopefully P.O'd,
do this:
3. Take 5-10 minutes and compose an
e-mail, fax or good old-fashioned letter to our elected officials
in Washington ... and their respected leaders. We'll
start with them, and here's how you can send them your e-mail/fax,
DEMANDING the immediate Legislation/Energy Plan that calls for tapping into
these (OUR OWN!) reserves, as well as allowing for the offshore drilling
for OUR oil, in OUR offshore waters and inter-continental shelf ... not to
mention Alaska. Technology ain't what it used to be, people (ever had
arthroscopic surgery?). They can surgically extract OUR oil, and
get us on the way to at least some measure of Energy independence, and
accomplish it in an environmentally friendly
manner.
If you don't take a little time to do
this, then you should stifle yourself the next time you want to complain
about gas prices... because by doing NOTHING, you've forfeited your
right to complain.