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    Default This should make YouThink - Huge Oil Reserve in the U.S.

    This came to me by way of an email; FYI the email is very misleading and makes claim to 503 billion barrels of untapped crude oil.

    3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation—25 Times More Than 1995 Estimate—

    What I find interesting is that the amount of oil is 25 times more than first thought to be available in 1995. The earths core is made up very hot magma at high pressure. Could it be that the earths core is producing oil as a by product of this magma making its way to the earths surface. This is something that the oil companies and the Environmentalist don't even want to consider.

    The truly sad part is the environmentalist are preventing tapping into this reserve, just like every other oil reserve in this country. Of course tapping those reserves would drop the price of oil and make OPEC very unhappy. Which makes one wonder; Is OPEC funding the environmentalist in the U.S.

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    Quote Originally Posted by ScareCrow57 View Post
    This came to me by way of an email; FYI the email is very misleading and makes claim to 503 billion barrels of untapped crude oil.

    3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation—25 Times More Than 1995 Estimate—

    What I find interesting is that the amount of oil is 25 times more than first thought to be available in 1995. The earths core is made up very hot magma at high pressure. Could it be that the earths core is producing oil as a by product of this magma making its way to the earths surface. This is something that the oil companies and the Environmentalist don't even want to consider.

    The truly sad part is the environmentalist are preventing tapping into this reserve, just like every other oil reserve in this country. Of course tapping those reserves would drop the price of oil and make OPEC very unhappy. Which makes one wonder; Is OPEC funding the environmentalist in the U.S.
    There was a guy up here who followed the ongoing production of oil from the Earths core. He got some investors and they hired a rig and drilled for best part of 1 season. Got nothing but salt water and dust. I do know a bit about hydrocarbon technology and nothing about this technology makes any sense. As far as the Bakken formation, it extends into Saskatchewan and there is a lot of drilling and production going on on both sides of the Medicine Line. One problem is that the formation is drawing down a lot quicker than rock sniffers projected. Some wells drilled less than 10 years ago have already gone dry and have been abandoned.

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    I wondered what this post was about since I have Ozboy on ignore.

    Oh lordy, This one has been around for awhile.

    This is more pipe dreaming from the crowd that believes enviros are stopping the oil companies from drilling. The only placed they were stopped was off the coast of Florida by that enviro friendly governor Jeb Bush.
    Politics is like driving. To go forward select "D", to go backward select "R."

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    Quote Originally Posted by scfire86 View Post
    I wondered what this post was about since I have Ozboy on ignore.

    Oh lordy, This one has been around for awhile.

    This is more pipe dreaming from the crowd that believes enviros are stopping the oil companies from drilling. The only placed they were stopped was off the coast of Florida by that enviro friendly governor Jeb Bush.
    Drilling, except in a few areas, is not usually the problem. Finding oil or gas is. Despite some peoples belief that a political announcement that they would open up the AWR for drilling, there has not been a single well spudded almost 2 years later. Price has gone from $147 to $30 back up to $80. Could it be that the whole thing was nothing but hot air and fantasy?

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    Quote Originally Posted by BryanLoader View Post
    Drilling, except in a few areas, is not usually the problem. Finding oil or gas is. Despite some peoples belief that a political announcement that they would open up the AWR for drilling, there has not been a single well spudded almost 2 years later. Price has gone from $147 to $30 back up to $80. Could it be that the whole thing was nothing but hot air and fantasy?
    Absolutely. It is all about the bottom line. The cost of retreival makes the oil companies desire weak until the cost of oil rises sufficiently to drill. If the headend costs are going to be literally billions of dollars spent before the first dollar is pumped out of the ground and the cost per barrel means decades before costs are recovered, there is no incentive to go get the oil, with or without Federal protection.

    Gayle Norton had been dingalinging a little bell trying to entice the oil companies to show interest in bidding on sites in ANWR (keep in mind what this means to the Feds in Treasury receipts from the drilling rights). She received at best a lukewarm response, while each year Interior has somehow found a way in increase their estimates of how much oil is below that ANWR site. The amount currently translates to approximately 1,000,000 barrels per day, when everything is running at full capacity (which means longer than the decade required just to begin drawing oil at all). The US currently pumps something like 5 million barrels per day so if Norton's figures were correct this would be a help, but not be anything close to making us independent of imported oil. Those 5 million barrels represent about 45% of our daily consumption, so one million more will still keep us importing plenty. We won't be anywhere close to energy self-sufficiency, with or without drilling in ANWR and it will take a minimum of a decade for any of this to take place.

    Those companies also want the Feds to indemnify the companies against any claims resulting from oil spills or any other unfortunate outcome to their actions.

    Even the Bakken reserve is estimated to be worth about one year's worth of US oil consumption at present day.

    This is another one of SCrow's cut and pasting of an email received in the Inbox and cited as some type of fact comparable to a papal bull. These types of people are also easily distracted by shiny objects.
    Politics is like driving. To go forward select "D", to go backward select "R."

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    Quote Originally Posted by scfire86 View Post
    I wondered what this post was about since I have Ozboy on ignore.

    Oh lordy, This one has been around for awhile.

    This is more pipe dreaming from the crowd that believes enviros are stopping the oil companies from drilling. The only placed they were stopped was off the coast of Florida by that enviro friendly governor Jeb Bush.
    If the environmental lobby wasn't blocking oil drilling there would be a bunch of oil rigs off the shore of California. Yup, the email is about a year old that you reference and the research is about 5 years old.

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    Quote Originally Posted by BryanLoader View Post
    Drilling, except in a few areas, is not usually the problem. Finding oil or gas is. Despite some peoples belief that a political announcement that they would open up the AWR for drilling, there has not been a single well spudded almost 2 years later. Price has gone from $147 to $30 back up to $80. Could it be that the whole thing was nothing but hot air and fantasy?
    More a function of do you invest a while bunch of money and then have the environmental lobby shut it done or delay drilling for years of court battles. The environmental movement was a good thing back in the 60s and 70s, now they are struggling for a cause and a purpose.

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    Quote Originally Posted by ScareCrow57 View Post
    More a function of do you invest a while bunch of money and then have the environmental lobby shut it done or delay drilling for years of court battles. The environmental movement was a good thing back in the 60s and 70s, now they are struggling for a cause and a purpose.
    I'm not sure what areas you are talking about re the Bakken formation that the environmentalists are protesting. None that I am aware of. Usually the big protests come after E&P and concern transport, i.e. pipelines, ships etc. A better way to achieve energy self sufficiency is to cut back on your usage. Never happen I know, but still people will cry.

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    Quote Originally Posted by BryanLoader View Post
    I'm not sure what areas you are talking about re the Bakken formation that the environmentalists are protesting. None that I am aware of. Usually the big protests come after E&P and concern transport, i.e. pipelines, ships etc. A better way to achieve energy self sufficiency is to cut back on your usage. Never happen I know, but still people will cry.
    I laugh at the cut back on usage argument. I already cut back because I don't like paying the power company. I use what I need. I burn wood for heat. I've insulated. What does our goofy government do? They offer incentives to those who are irresponsible and haven't done those things. How about throwing those of us who already conserve and are responsible a bone?

    In the southern tier of NY, there is a natural gas reserve that goes into PA, and Ohio, maybe more. The gas company is ready to extract the gas, But wait!!! We need more studies, what about the environment? Once again the enviro-nuts get in the way of progress. And at the same time, they scream and whine because the state wants to close their hiking trails and playgrounds (aka Parks).

    I find it funny that the very people who were opposed to Nuclear Power now embrace it. I just get that I told you so smirk every time I hear it. It's a shame the enviros won't let us tap into one of the largest sources of renewable energy this country has, that would be hydo electric.

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    So the Earth is STILL producing petroleum as part of its "life process"?Imagine that.The environmentalists would have us believe that no oil is being produced to replace what we have already consumed.
    While I would like to see follow on technology to replace petroleum,I don't see why we have to stop all at once because someone finds it politically expedient to call for it.

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    Cool Energy Reserves

    It's all about the cost. They’re still lots of un-recovered petroleum reserves in the ground along with huge shale oil deposits and about 500 years worth of coal.
    When an oil well is pumped with traditional pumping it only recovers about 30% of the oil in the ground. To extract more requires tertiary recovery techniques. Injecting water, or steam and/or detergents in nearby wells to force/release more oil from the formation. But this cost a lot more MONEY and is not economical with foreign oil at a low price.
    The Saudis’ are smart. They want to keep oil at around $80 a barrel. Enough so they make a good return on their petroleum resources but not high enough that the USA starts pumping wells with secondary recovery and drilling for new sources. That’s why when oil creeps up over $80 barrel, the Saudis’ start pumping more to bring the price back down to around the $80 mark.
    When oil got up to around $140/barrel last summer and it was $4.00 a gallon at the pump, two things happened. One I cut my consumption by %50 like many people and the oil companies starting pumping wells in the area of my home town that had not been in production for years. As soon as the price went down the pumping stopped.
    So until the price gets into the $5.00 - $6.00 a gallon range you are not going to see much action for alternate sources of energy. The tree huggers shut down the Exxon Shale oil plant in Wyoming, even though Syncrude in Canada continues to produce oil from shale oil deposits. Germany used Coal Gasification in WWII to produce oil. We have hundreds of years of coal but the tree huggers want to block its use. When gas gets to $6.00 a gal, coal gasification might be economically practical.
    So it’s not that we don’t have resources, it cheaper to buy cheap foreign oil. About 70% of our annual useage.

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    Quote Originally Posted by donethat View Post
    It's all about the cost. They’re still lots of un-recovered petroleum reserves in the ground along with huge shale oil deposits and about 500 years worth of coal.
    When an oil well is pumped with traditional pumping it only recovers about 30% of the oil in the ground. To extract more requires tertiary recovery techniques. Injecting water, or steam and/or detergents in nearby wells to force/release more oil from the formation. But this cost a lot more MONEY and is not economical with foreign oil at a low price.
    The Saudis’ are smart. They want to keep oil at around $80 a barrel. Enough so they make a good return on their petroleum resources but not high enough that the USA starts pumping wells with secondary recovery and drilling for new sources. That’s why when oil creeps up over $80 barrel, the Saudis’ start pumping more to bring the price back down to around the $80 mark.
    When oil got up to around $140/barrel last summer and it was $4.00 a gallon at the pump, two things happened. One I cut my consumption by %50 like many people and the oil companies starting pumping wells in the area of my home town that had not been in production for years. As soon as the price went down the pumping stopped.
    So until the price gets into the $5.00 - $6.00 a gallon range you are not going to see much action for alternate sources of energy. The tree huggers shut down the Exxon Shale oil plant in Wyoming, even though Syncrude in Canada continues to produce oil from shale oil deposits. Germany used Coal Gasification in WWII to produce oil. We have hundreds of years of coal but the tree huggers want to block its use. When gas gets to $6.00 a gal, coal gasification might be economically practical.
    So it’s not that we don’t have resources, it cheaper to buy cheap foreign oil. About 70% of our annual useage.
    Actually donethat, Syncrude, Suncor, CNRL and many others produce oil from Tarsands, not shale deposits. There are some shale projects going on in Saskatchewan but they seem to be short lived due to fast draw down of reserves. Shale projects mainly involve natural gas, not oil.

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    Quote Originally Posted by donethat View Post
    It's all about the cost. They’re still lots of un-recovered petroleum reserves in the ground along with huge shale oil deposits and about 500 years worth of coal.
    When an oil well is pumped with traditional pumping it only recovers about 30% of the oil in the ground. To extract more requires tertiary recovery techniques. Injecting water, or steam and/or detergents in nearby wells to force/release more oil from the formation. But this cost a lot more MONEY and is not economical with foreign oil at a low price.
    The Saudis’ are smart. They want to keep oil at around $80 a barrel. Enough so they make a good return on their petroleum resources but not high enough that the USA starts pumping wells with secondary recovery and drilling for new sources. That’s why when oil creeps up over $80 barrel, the Saudis’ start pumping more to bring the price back down to around the $80 mark.
    When oil got up to around $140/barrel last summer and it was $4.00 a gallon at the pump, two things happened. One I cut my consumption by %50 like many people and the oil companies starting pumping wells in the area of my home town that had not been in production for years. As soon as the price went down the pumping stopped.
    So until the price gets into the $5.00 - $6.00 a gallon range you are not going to see much action for alternate sources of energy. The tree huggers shut down the Exxon Shale oil plant in Wyoming, even though Syncrude in Canada continues to produce oil from shale oil deposits. Germany used Coal Gasification in WWII to produce oil. We have hundreds of years of coal but the tree huggers want to block its use. When gas gets to $6.00 a gal, coal gasification might be economically practical.
    So it’s not that we don’t have resources, it cheaper to buy cheap foreign oil. About 70% of our annual useage.
    Recall in the summer of 2008 when gas prices went to over $4.00 a gallon sending the economy into a tailspin. Many were blaming Bush and Cheney. It took 7 years to rise from $2 to $4 a gallon. Well they are gone now, can't blame them anymore. In the last year gas prices have gone from $2 to $3 per gallon. This summer they will approach the $4 if not more. When that happens the economy will tank again. And who will the ObamaCrats blame then? It will be Bush's fault.

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    Quote Originally Posted by ScareCrow57 View Post
    Recall in the summer of 2008 when gas prices went to over $4.00 a gallon sending the economy into a tailspin. Many were blaming Bush and Cheney. It took 7 years to rise from $2 to $4 a gallon. Well they are gone now, can't blame them anymore. In the last year gas prices have gone from $2 to $3 per gallon. This summer they will approach the $4 if not more. When that happens the economy will tank again. And who will the ObamaCrats blame then? It will be Bush's fault.
    In the afternoon on September 11,2001,my taxi company kept calling me for updates on my location.When I got back to town,the boss wanted me to fill my bus and get the rest of the wheelchair department vehicles filled as well.He also had a price increase for the pumps that made me grab a new driver to stand between me and the street when I hung the new numbers out on the marquee.
    It wasn't going up to $4.00 a gallon but to $1.509 a gallon.It seems that a rumor started that gasoline prices were going to inflate big time because of the attacks that morning.
    Man,I wish I could see prices like that again.

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