I have a cousin that works in energies on the west coast -- mostly atomic stuff as I understand. He sent me an email that's a little lengthy, but worth reading:
The U. S. Geological Service issued a report in April ('08) that only scientists and oil men 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 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.' 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.
2. And if that didn't throw you on the floor, then this next one should - because it's from TWO YEARS AGO!
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 mother load 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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Today's Featured Article - On the Road with Dave Gohl: Auction Musings - by Dave Gohl. I was thinking the other day about all the auctions I've been to in the last few years. There've been many. Some have been very good, some have been well, disappointing to say the least. But no matter how good or bad auctions may be, we always seem to stay until the item we've come for or are interested in is on the block. I've been to some auctions near and far. I think the furthest has been the Two Cylinder 7 in the Amana Colonies last year. Lots of stuff, lots of people. I've also atten
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