Sirsnapalot Loc: Hammond, Louisiana

Found this interesting thought I'd share

U.S. OIL SUPPLY.....INCREDIBLE..!!
About 6 months ago, there was 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."
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 (5 Billion barrels), 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 analyzer. "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 many recent years of high oil prices none has been extracted. With this mother lode 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.

jayluber Loc: Phoenix, AZ

LGB...

jaymatt Loc: Alexandria, Indiana

I have read this before. What's being done to us with regard to energy prices is criminal.

wmurnahan Loc: Bloomington IN

Drill baby drill is not the answer. Yes we will have oil, but we are also putting money into our enemies pockets. Never forget that all but a couple of the 9/11 terrorist were Saudi's. Almost all the money for Islamic terrorist comes from Saudi Arabia. The only way to end money going to our enemies is if we, a nation that just a few years ago was looked at as the example to the world, lead the world on getting off the oil tit.

lamiaceae Loc: San Luis Obispo County, CA

There is a similar very long article on Wikipedia. Though according to it there has been a lot of produced oil taken out of the Bakken Formation area since 1953. Yes, there has been some controversy with moving the crude oil from the drilling sites to refineries. Seems the Canadians worked out safe or at least not controversial ways of doing so. Seems to me the problem is getting the Oil to refineries. Seems perhaps the two US states involved should consider allowing and promoting the building of local refineries and not try to pipe it to Texas, Oklahoma, or Louisiana for refining. We still have refineries here where I live in California and I do not see much in the way of environmental protests against it. Blaming lack of more production of the Bakken oil on modern day environmentalists is a red herring. And not a real issue with this. The entire issue of carbon footprints is far beyond this. It will take some time for alternative energy to catch up with that of fossil fuels. Now back to photography...

srt101fan

Just Shoot Me Loc: Ithaca, NY

This is exactly what happens when you believe anything on SPACE book.
A social media site designed to keep in touch with friends turns into a rumor mill of false facts!

BurghByrd Loc: Pittsburgh

srt101fan - Thanks for that. Way to much BS on the web that so many track all over the house!! As Joe (Jack Webb) used to say "Just the facts please"

bet53

Lots of Oil in Eagle Ford and Permian basin in Texas and NM. I own partnership in wells there. The current pricing is a spike and supply and demand will rebalance. Look at oil futures 12/2022 and beyond. 9 months from now, $90bbl, and dropping about $10bbl each year thereafter. Forget the media, these are the people that know and are making real bets with hard $$.

Thomas902 Loc: Washington DC

Many thanks srt101fan... btw, I've actually worked in the petroleum industry for a couple of years just out of college.. My initial degree was in chemistry with a minor in Geology... did time with the Maryland Geological Survey (research on the "Baltimore Canyon" oil reserves just off the coast of Ocean City Maryland)... While the this probe found petroleum it wasn't enough to warrant recovery...

Next I did exploratory geology in the Wyoming Overthrust region (8,000+ feet above sea level) The deep well I was logging (reading the cuttings and charting the formations we were drilling through) actually hit it big time... natural gas... however it was laced with Hydrogen Sulfide gas... deadly stuff, we all had to carry gas masks at all times...
Want to Learn More? https://earthworks.org/issues/hydrogen_sulfide/
Not fun... and the Wyoming Overthrust region is seriously cold...

Ok, here's a trip I've learned on UHH srt101fan... If it sounds outrageous always check the OP's posting habits... in this post the OP virtually lives in the Attic. Serious Red Flag... not worth the time to read/respond, enough said...

My thoughts? The ultimate energy source is likely Solar... the plant world has been highly successful with it... lol
A noble goal for our children's children's children.... after all is said and done... that is our ultimate mission as members of the human race...

Peace and good health to all!
Cheers! Thomas

FredCM Loc: Central Illinois

Environmentalists? HAH! The oil companies got burned a few years ago, remember oil was less than $20 a barrel. Too much drilling and pumping. They're not about spend the money to restart the pumping in NDAK if it means $20 oil. If you want to know why gas is so expensive look at the 6,000 pound vehicle in your driveway, the one that's never seen mud and the paint on the bed looks brand new.

StanMac Loc: Tennessee

Love it!!!!

Stan

Sirsnapalot Loc: Hammond, Louisiana

Lots of interesting UHH articles are started to provoke conversation and opinions, yes every now and then a non or little fact checked article slips in.
The reason post are relocated to the attic is that some members can’t hold a reasonable discussion without becoming offended or getting their feelings hurt. Lots of interesting topics turn slightly political, and it’s a shame that grown people can’t rationally discuss differences without taking things personal.

alexol

There's quite a bit of truth on these kind of reports but also huge swathes of information missing.

A couple of the more important ones which people unassociated with the industry are unlikely to know about:

The yield from oil wells varies vastly, one to another. Neither the size of the field nor the estimate of recoverable oil gives any guarantee whatever of production rates.

Some wells have very short production lives, sometimes measured only in a few weeks and may require constant maintenance and invasive procedures to coax more oil out of the ground. And they may only produce literally a few barrels per day. Other wells, such as some I worked on in Iran many many moons ago, may remain in production for decades, producing tens of thousands of barrels per day.

The Bakken, for example, while it holds enormous reserves, has - compared to the wells of the Middle East in particular - very poor production rates and a short life cycle.

Another big misconception is the elapsed time from initial planning to delivery of first oil. It's isn't "drill on Tuesday and fill up your car on Thursday" - complex offshore operations, which is where the high production wells are usually, can take 6 years to first oil, not to mention sometimes billions of dollars of upfront investment requiring a return.

We have many thousands of drilled well in the US which are fully drilled and have been capped, but not completed, waiting for the right moment (economically speaking) to produce.

Lastly, let's be 101% clear - oil is a business, there's very little incentive to keep oil prices low.

Low oil prices are a political desire; much as people like to dream otherwise, presidents of any stripe have very little influence over the price of oil, although they love to claim responsibility for low prices and blame something else when they are higher.

World events govern the price of oil. It is after all a global commodity. Presidents can generate circumstances to change that price - for example, getting involved in a war which reduces supply.

Our real problem seems to be that our economic system is fundamentally weak in the too many people are in financial positions that are severely affected by relatively small changes - say a couple of hundred dollars - in monthly expenditure.

The usual issue - a tiny percentage of the population owns an inordinately high proportion of, well, everything while the vast majority of people live paycheck to paycheck. Obviously we must like this or we would change it. Defeats me as to why, but that's a different conversation.

Wuligal Loc: Slippery Rock, Pa.

You have a point but we can't just stop drilling for oil. We have to be slowly weaned away as we find ways to replace all the ways in which we now use fossil fuels .By the way, would you fly in an airplane powered by solar power? Better hope you never need a heart valve or contact lens. Oil is used in the manufacturing of over 6000 products including the asphalt that EV's drive upon.

Here is a partial list of the products produced using oil. Tell me which ones we should do away with.

A partial list of products made from Petroleum (6000 items). One 42-gallon barrel of oil creates 19.4 gallons of gasoline. The rest (over half) is used to make things like: Although the major use of petroleum is as a fuel, (gasoline, jet fuel, heating oil), and petroleum and natural gas are often used to generate electricity, there are many other uses.

Here are some of the ways petroleum is used in our every day lives. All plastic is made from petroleum and plastic is used almost everywhere: in cars, houses, toys, computers and clothing. Asphalt used in road construction is a petroleum product as is the synthetic rubber in the tires. Paraffin wax comes from petroleum, as do fertilizer, pesticides, herbicides, detergents, phonograph records, photographic film, furniture, packaging materials, surfboards, paints, and artificial fibers used in clothing, upholstery, and carpet backing.

Solvents Diesel Motor Oil Bearing Grease Ink Floor Wax Ballpoint Pens Football Cleats Upholstery Sweaters Boats Insecticides Bicycle Tires Sports Car Bodies Nail Polish Fishing lures Dresses Tires Golf Bags Perfumes Cassettes Dishwasher Tool Boxes Shoe Polish Motorcycle Helmet Caulking Petroleum Jelly Transparent Tape CD Player Faucet Washers Antiseptics Clothesline Curtains Food Preservatives Basketballs Soap Vitamin Capsules Antihistamines Purses Shoes Dashboards Cortisone Deodorant Footballs Putty Dyes Panty Hose Refrigerant Percolators Life Jackets Rubbing Alcohol Linings Skis TV Cabinets Shag Rugs Electrician's Tape Tool Racks Car Battery Cases Epoxy Paint Mops Slacks Insect Repellent Oil Filters Umbrellas Yarn Fertilizers Hair Coloring Roofing Toilet Seats Fishing Rods Lipstick Denture Adhesive Linoleum Ice Cube Trays Synthetic Rubber Speakers Plastic Wood Electric Blankets Glycerin Tennis Rackets Rubber Cement Fishing Boots Dice Nylon Rope Candles Trash Bags House Paint Water Pipes Hand Lotion Roller Skates Surf Boards Shampoo Wheels Paint Rollers Shower Curtains Guitar Strings Luggage Aspirin Safety Glasses Antifreeze Football Helmets Awnings Eyeglasses Clothes Toothbrushes Ice Chests Footballs Combs CD's Paint Brushes Detergents Vaporizers Balloons Sun Glasses Tents Heart Valves Crayons Parachutes Telephones Enamel Pillows Dishes Cameras Anesthetics Artificial Turf Artificial limbs Bandages Dentures Model Cars Folding Doors Hair Curlers Cold cream Movie film Soft Contact lenses Drinking Cups Fan Belts Car Enamel Shaving Cream Ammonia Refrigerators Golf Balls Toothpaste Gasoline Ink Dishwashing liquids Paint brushes Telephones Toys Unbreakable dishes Insecticides Antiseptics Dolls Car sound insulation Fishing lures Deodorant Tires Motorcycle helmets Linoleum Sweaters Tents Refrigerator linings Paint rollers Floor wax Shoes Electrician's tape Plastic wood Model cars Glue Roller-skate wheels Trash bags Soap dishes Skis Permanent press clothes Hand lotion Clothesline Dyes Soft contact lenses Shampoo Panty hose Cameras Food preservatives Fishing rods Oil filters Combs Transparent tape Anesthetics Upholstery Dice Disposable diapers TV cabinets Cassettes Mops Sports car bodies Salad bowls House paint Purses Electric blankets Awnings Ammonia Dresses Car battery cases Safety glass Hair curlers Pajamas Synthetic rubber VCR tapes Eyeglasses Pillows Vitamin capsules Movie film Ice chests Candles Rubbing alcohol Loudspeakers Ice buckets Boats Ice cube trays Credit cards Fertilizers Crayons Insect repellent Water pipes Toilet seats Caulking Roofing shingles Fishing boots Life jackets Balloons Shower curtains Garden hose Golf balls Curtains Plywood adhesive Umbrellas Detergents Milk jugs Beach umbrellas Rubber cement Sun glasses Putty Faucet washers Cold cream Bandages Tool racks Antihistamines Hair coloring Nail polish Slacks Drinking cups Guitar strings False teeth Yarn Petroleum jelly Toothpaste Golf bags Roofing Tennis rackets Toothbrushes Perfume Luggage Wire insulation Folding doors Shoe polish Fan belts Ballpoint pens Shower doors Cortisone Carpeting Artificial turf Heart valves LP records Lipstick Artificial limbs Hearing aids Vaporizers Aspirin Shaving cream Wading pools Parachutes Americans consume petroleum products at a rate of three-and-a-half gallons of oil and more than 250 cubic feet of natural gas per day each!

But, as shown here petroleum is not just used for fuel.