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What Oil Crisis?

Posted by keelynet on August 21, 2008

I received an email demanding I CHANGE this article because it was ‘misleading’. Change an article??? No way. Reviewed the links and the article is correct saying ‘it is estimated’, not it is FACT. Some people think their views are the only ones and everyone should believe the same.

“1. Ever heard of the Bakken Formation? 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 2008 that only scientists and oilmen 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 th is 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, 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 all right here in the Western United States. (Thanks to Ron West for this headsup. – JWD)” – Source

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