Usa Problems All Over ?

[Chaimai]

I received this email - is it true, why did I not know before, does it solve the economic crisis ?

-------Original Message------- GOOGLE it or follow this link. It will blow your mind. http://www.usgs.gov/newsroom/article.asp?ID=1911

The U.S. Geological Service issued a report in April ('08) that only scientists and oilmen knew wa s 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) estimate s 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 ha ve 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, people!]

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 is 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 a s 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 a ll right here in the

Western United States.

HOW can this BE? HOW can we NOT BE extracting this!? Because the democrats, environmentalists and some r epublic ans have blocked all efforts to help America become independent of foreign oil.

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.

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Don't think 'OPEC' will drop its price - even with this find? Think again! It's all about the competitive marketplace, - it has to.

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[Got your attention/ire up yet? Hope so! Now, while you're thinking about it ... and hopefully P.O'd, do this:

3. Pass this along.. 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.

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[meom]

There's a lot of oil up there but it costs a bit more than 16 dollar/barrel to recover. 50+/barrel is more likely.

[davejonesbkk]

Has anyone considered that this might actually be a strategy? The USA uses it's political might in the middle east to buy foreign oil, then once the oil here begins to run low they start drilling for their own domestic oil giving them their own free oil but also a surplus that they can sell the now oil starved world at a premium price......

[Jimjim]

I don't know if this is true or not. Would take more research to try and corroborate. And...Thailand related? Although this the economy thread so maybe it's ok.

[BEENTHEREDONETHAT]

Chaimai

That is truly amazing, makes you wonder why nothing is happening with it? Someone busy buying up all the involved land perhaps.

[Simmo]

Some good info on it here.

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

[GungaDin]

This is Thai related????

[gregb]

The Bakken formation has been known since the late 40's/early 50's. This is hardly newsworthy. There is oil there buried within the shale, but it is incredibly dispersed, and the permeability is extremely low. Because the porosity of the structure is so low, it will take an incredible amount of work and energy to bring this oil to production, and the production rate when it is tapped will be extremely low. If this wasn't the case, it would have been tapped already. There is no government conspiracy here. You can take off your tinfoil hats.

There is nothing here of significance. This is nothing but a scam by someone to separate you from your hard earned money. I'm not sure what the ploy is, but you can bet there is one. Now, this 2 trillion figure he cleverly conceals in there, has to be oil shale, not oil. Read it carefully, he doesn't say it is crude oil. There is a huge difference. The oil shale there has also been known for decades, and cost effective production of that formation will likely be forever just one step beyond what is profitable.

The problem is the amount of energy it takes to produce is not significantly greater than the energy you get after production, so the cost rises in concert with the cost of oil, continually pushing the barrier further and further out. Granted, there is a time when it will become profitable to produce, but not likely while the US economy is still functioning in a reasonable manner.

[JimsKnight]

Has anyone considered that this might actually be a strategy? The USA uses it's political might in the middle east to buy foreign oil, then once the oil here begins to run low they start drilling for their own domestic oil giving them their own free oil but also a surplus that they can sell the now oil starved world at a premium price......

This is what I've heard a lot of folk say about other countries with oil reserves, from the UK right up to places like Iran.

It makes sense, but if a cheaper form of energy comes along the glut of existing, defunct energy infrastructure can then be seen as a missed opportunity.

[Soutpeel]

The Bakken formation has been known since the late 40's/early 50's. This is hardly newsworthy. There is oil there buried within the shale, but it is incredibly dispersed, and the permeability is extremely low. Because the porosity of the structure is so low, it will take an incredible amount of work and energy to bring this oil to production, and the production rate when it is tapped will be extremely low. If this wasn't the case, it would have been tapped already. There is no government conspiracy here. You can take off your tinfoil hats.

There is nothing here of significance. This is nothing but a scam by someone to separate you from your hard earned money. I'm not sure what the ploy is, but you can bet there is one. Now, this 2 trillion figure he cleverly conceals in there, has to be oil shale, not oil. Read it carefully, he doesn't say it is crude oil. There is a huge difference. The oil shale there has also been known for decades, and cost effective production of that formation will likely be forever just one step beyond what is profitable.

The problem is the amount of energy it takes to produce is not significantly greater than the energy you get after production, so the cost rises in concert with the cost of oil, continually pushing the barrier further and further out. Granted, there is a time when it will become profitable to produce, but not likely while the US economy is still functioning in a reasonable manner.

And here is the first sane comment on this thread....the oil may be there boys....but its going to cost a lot more than its worth to get it out....as gregb has mentioned this is oil shale, with current technology very expensive and difficult to get out... as a comparision it is about twice as difficult as the Canadian Oil sands to get out and around 3 times the cost...based on the info I have looked at a barrel of oil would need to be around $80 -$85 to be even viable, at current $43/barrel forget it...

[Khun Jean]

Then again it might be bad economics to take it out of the ground whatever the price of oil.

The more important calculation is energy in has to be smaller (a lot) then energy out.

If you need 1 barrel of oil to get 1 barrel of oil it will never work, even when prices are 1000US$ per barrel.

[VegasVic]

The Bakken formation has been known since the late 40's/early 50's. This is hardly newsworthy. There is oil there buried within the shale, but it is incredibly dispersed, and the permeability is extremely low. Because the porosity of the structure is so low, it will take an incredible amount of work and energy to bring this oil to production, and the production rate when it is tapped will be extremely low. If this wasn't the case, it would have been tapped already. There is no government conspiracy here. You can take off your tinfoil hats.

There is nothing here of significance. This is nothing but a scam by someone to separate you from your hard earned money. I'm not sure what the ploy is, but you can bet there is one. Now, this 2 trillion figure he cleverly conceals in there, has to be oil shale, not oil. Read it carefully, he doesn't say it is crude oil. There is a huge difference. The oil shale there has also been known for decades, and cost effective production of that formation will likely be forever just one step beyond what is profitable.

The problem is the amount of energy it takes to produce is not significantly greater than the energy you get after production, so the cost rises in concert with the cost of oil, continually pushing the barrier further and further out. Granted, there is a time when it will become profitable to produce, but not likely while the US economy is still functioning in a reasonable manner.

And here is the first sane comment on this thread....the oil may be there boys....but its going to cost a lot more than its worth to get it out....as gregb has mentioned this is oil shale, with current technology very expensive and difficult to get out... as a comparision it is about twice as difficult as the Canadian Oil sands to get out and around 3 times the cost...based on the info I have looked at a barrel of oil would need to be around $80 -$85 to be even viable, at current $43/barrel forget it...

Those shale oil deposits are protected until 2012(2011?), but your assessment is spot on exept that once production gets into full swing (3-5 years down the road) the extraction costs for shale oil will drop so that it would be cost effective if Oil were at $65-$70/bbl Also new technology could decrease the cost going forward! In any event the doomsdayers that are predicting $200/bbl oil haven't the first clue as to what they are talking about, forget about the bakken shale, if the U.S. national security was ever at stake we would begin burning coal and building massive coal gasification plants Most people who post here about how OPEC has the U.S. by the short and curleys forget that the U.S. has a 300 year supply of coal within its borders

[Naam]

Most people who post here about how OPEC has the U.S. by the short and curleys forget that the U.S. has a 300 year supply of coal within its borders

and switching power plants to burn coal instead of oil is done with a blink of an eye. the same goes for vehicles. shovel coal in the tank, flip the switch on the dashboard to "burn coal now" is child's play. but neither coal nor oil are actual necessities. cars will run on electricity and for heating of buildings electricity is used too. this kind of alternative energy is the easiest to access. it comes neat and clean from outlets recessed in the walls. in most buildings these outlets exist already, therefore no need for costly installation or remodelling.

[AlexLah]

Sometimes you are funny Naam.

[hhgz]

The OP received an email that purposely distorts and misrepresents the true. A simply internet search would have made the OP aware of the hoax-like nature of the original email.

[endure]

As this appears to have nothing to do with Thailand it's closed.