# Snopes this and ask your self WHY?



## TURTLE (May 22, 2008)

OIL - you better sit down. .. 

Here's an interesting read, important and verifiable information :

About 6 months ago, the writer was watching 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." Please read below.

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: 




Bakken Shale Map - Maps of Bakken Shale Oil Formation Field 

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 John son, 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.' 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
three and a half years of high oil prices none has been extracted. With this motherload 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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## pappastratos (Oct 9, 2007)

"""""""""Again, we are letting a small group of people dictate our lives and our economy.....WHY?"""""""""""""""

Obama, 
Soros, 
ACLU,
Any special interest group. 

Why ? "For the People" & majority rules left our country years ago. When a state votes to outlaw gay marriages & a single judge in the state over-turns the state vote,,,SOMETHING IS WRONG. 
Special interest. What can be done ? Probably nothing, We, the people, have let this go on for so long, the special interest does not "fear" "we the people" anymore.


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## arthurpete (Oct 10, 2007)

did you snopes it?

that is only about 2-3 years old but ah what the hell........

April 2008 USGS report stated the Bakken contains 3.0 to 4.3 billion barrels

The US imports 10 million barrels a day = 3.65 billion barrels per year = 1 year supply of very difficult and technical drilling which is already being done as i type.


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## jim t (Sep 30, 2007)

Here's what Snopes says:

snopes.com: Bakken Formation

Here's the Rand Study:

http://rand.org/pubs/monographs/2005/RAND_MG414.pdf

About a years worth of technically recoverable now, maybe a lot more with techological advances.

Jim


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## TURTLE (May 22, 2008)

arthurpete said:


> did you snopes it?
> 
> that is only about 2-3 years old but ah what the hell........
> 
> ...


My brother in Law worked for USGS for many years and now teaches Geology at Southern Miss and has told me for years that we have more then enough oil under our soil to support our greed and still export a crapload of it throughout the earth.I'll keep listening to him since he is more of an " Expert " in the field.

When you say very difficult to get to, do you mean more difficult then 5000 feet under the ocean???


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## Marine Scout (Nov 18, 2007)

It's called ARTIFICIAL SCARCITY !!!


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## hebegb (Oct 6, 2007)

it's called use up the camel jockies first....then who is left holding the cards while the sandbox people wither back into obscurity


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## arthurpete (Oct 10, 2007)

TURTLE said:


> My brother in Law worked for USGS for many years and now teaches Geology at Southern Miss and has told me for years that we have more then enough oil under our soil to support our greed and still export a crapload of it throughout the earth.I'll keep listening to him since he is more of an " Expert " in the field.
> 
> When you say very difficult to get to, do you mean more difficult then 5000 feet under the ocean???


not claiming ot be an expert but i would definetely consider a USGS publication a credible source of information. No? You cant cite snopes but then refute what doesnt match your agenda.

Did you see were the information first came from, it was touted by an investment newsletter. Then you say one of the Forbes brothers was referring to it. It is pretty easy to see how this came about.


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## arthurpete (Oct 10, 2007)

TURTLE said:


> When you say very difficult to get to, do you mean more difficult then 5000 feet under the ocean???


I see where your going. i dont know if one is more or less difficult than the other but i know both are profitable


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## bstuart (Dec 4, 2009)

About 30 years ago an oil company...EXXON I believe...constructed a plant to remove oil from shale in western Colorado. It can certainly be done. But back then oil was what...6 dollars a barrel and the company gave up saying it wasn't profitable. It probably wasn't. But today oil is 75-dollars a barrel and it sure sounds profitable to me. I guess the oil companies are picking the low hanging fruit first. Our dependence on foreign oil matters little to them.


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## neuby (May 8, 2009)

hebegb said:


> it's called use up the camel jockies first....then who is left holding the cards while the sandbox people wither back into obscurity


I concur. We have been pumping the good stuff back into the ground in Alaska for years- saving it for later.


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## Fog Ducker (Dec 24, 2009)

*It's More NIMBY*

Oil shale has potential, but it's another case of Not In My Back Yard. As long as the political landscape and administration stays the way it is, little or nor progress will be made.

Note that the Senator Ken Salazar standing in the way in the article below is now the current Interior Secretary, and you can guess at the "progress" the progressives will make on this. 800 billion recoverable barrels...hands off.

The politics of oil shale - Jun. 6, 2008


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## lobsterman (Sep 30, 2007)

The simple facts are that the Oil Companies, Auto Makers and Politicians have been in bed with each other for a seriously long time. back in the 70's they had cars getting 50 miles to the gallon, but the Politicians don't like that because it cuts into their tax revenues they collect on gas sold at the pump. The Auto Makers had and still have the technology to make every car get at least that much gas mileage reguardless of size, but they come up with government regulations to strap their hands to where that is an impossible feat at the expense of the American people. It is all a game to them and we continue to elect these BOZO's over and over and over. Here is the remedy, vote every single incumbent out reguardless of party affiliation and start from scratch and remind them that they work for us and do the same next time they get haughty and high minded. Then set term limits to two terms and retire the money grubbing, power grabbing buzzards and start over again.


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## jim t (Sep 30, 2007)

Here's a little info about shale oil.

About Oil Shale

It's not like you drill a well and oil comes up. The "in situ" process takes YEARS before anything can be refined. I read it takes a LOT of water in the refining process. Not exactly readily available in that part of the country.

It's doable, but it is time consuming and much more complicated than drilling for crude or mining for coal.

Latest estimate from 2008 puts the cost for an oil company at $60.00 per barrel. (2008 estimate)

Oil today is $72.95 per barrel. If oil prices drop very much it's not exactly profitable to extract.

Jim


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## rhumbrunner (Sep 27, 2007)

I don't necessarily subscribe to all of Lindsy Williams stuff, But if you will watch his program on "the non oil crisis" it will answer a lot of what has been brought up in the OP's thread. It can be watched on you tube, it's well worth it, it goes into the politics and who set it up that way, why oil is strictly dealt in u.s. dollars. How we have more oil in prude hole bay than we could ever use and why Americans can't have their own oil. How the housing market is tied to oil and most everything else.


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## Fog Ducker (Dec 24, 2009)

The "About Oil Shale" article is a good one. It spells out costs, how abundant it is, and the REAL reasons we aren't going after it. 

Oil was over $100/barrel in 08, and the peak oil theorists and environmentalists expect it to go well above that and stay there (it peaked over $140). It can be profitable...how much will the gulf oil spill cost?? I think the $50-100 billion or whatever the final tally ends up being could have been better invested here. 

Solar, wind, and nuclear will not replace our need for oil, and if we want to quit being dependent on foreign countries we can; we choose not to.


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## Big B (Sep 7, 2009)

*I seen this in 2007*

I read an article about this in later 2007. From what I remember it was alot of oil shale like you say. They had tried to recover it and it was not profitable at 30$ a barrel or so. They found a way to extract the oil from the shale years later that would make it really profitable at around 80$ a barrel. They are EPA regulations on the place because it would affect a bunch of peoples water supply. To add infrastructure to produce the barrel was expensive and would take years to complete.It was enough to satisfy USA's appetite for oil for 120 years. That is about all I remember.


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## WireTwister (Oct 12, 2007)

Interesting watch --- Then ask yourself why..


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## Diesel (Jan 9, 2008)

lobsterman said:


> The simple facts are that the Oil Companies, Auto Makers and Politicians have been in bed with each other for a seriously long time. back in the 70's they had cars getting 50 miles to the gallon, but the Politicians don't like that because it cuts into their tax revenues they collect on gas sold at the pump. The Auto Makers had and still have the technology to make every car get at least that much gas mileage reguardless of size, but they come up with government regulations to strap their hands to where that is an impossible feat at the expense of the American people. It is all a game to them and we continue to elect these BOZO's over and over and over. Here is the remedy, vote every single incumbent out reguardless of party affiliation and start from scratch and remind them that they work for us and do the same next time they get haughty and high minded. Then set term limits to two terms and retire the money grubbing, power grabbing buzzards and start over again.


#1 Right On


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## Sushi maker (Jun 3, 2010)

well we gotta vote in a whole new bunch of good guys to get this done.


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## hogdogs (Apr 19, 2010)

Snopes is rabidly left wing/progressive and only come to verification conclusions to suit their agendas unless it is a minor sacrifice and they find verification against that issue to throw the rightwing/conservatives or libertarians off the trail...

Brent


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## arthurpete (Oct 10, 2007)

hogdogs said:


> Snopes is rabidly left wing/progressive and only come to verification conclusions to suit their agendas unless it is a minor sacrifice and they find verification against that issue to throw the rightwing/conservatives or libertarians off the trail...
> 
> Brent



i'll bet money that you consider politifact.com and factcheck.org left leaning sites as well.

you should provide some examples of half truths/lies/etc from these sites for shits and giggles


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