Domestic oil 25x more abundant than thought

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why didn't we hear about this report? why won't the current or past administrations approve this drilling?

http://www.usgs.gov/newsroom/article.asp?ID=1911

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Because they're conservative yu dope! LOL!

Actually all that oil would be an excellent way for the US gov to balance their checkbook!

But that makes too much cents for America, and no cents to exxon mobil.

jomoco
 
Yippee! Look what Obama found! Obama solved the oil crisis!

I mean, if we're gonna blame him for everything that goes wrong on his watch, he gets credit for what goes right... right?
 
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article is dated 4/08. so technically bushie gets credit

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LOL!

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Uhh, Bull, I think you kinda misread the report. The Bakken is being explored, drilled, and proven up. Production has been underway for years. Technology is more the limiting factor than regulatory. This article says there could be up to 500 billion barrels of oil in the Bakken, but most of it is not easily (if at all)recoverable. The recoverable oil is here and there in pockets that require horizontal drilling, but easier than the bulk of the oil which is locked in the shale. http://en.wikipedia.org/wiki/Bakken_Formation


The Bakken also extends into Canada.
And, of course, Canada hosts the gigantic oil sands, currently being exploited. Environmentally, far less than sound!

The collapse of crude oil prices must have really affected these operations, as they are far more costly than normal oil production.


Here's a study on the Green River Formation---the gigantic oil shale of Colorado, Wyoming, and Utah....with up to 1.8 trillion barrels of oil, estimated....up to half of it could someday be recoverable. http://geology.utah.gov/emp/oilshale/pdf/oilshale0507.pdf
 
I understand the report. I was more bringing to light the fact that we never heard about this in the media. This has the potential to free us of foreign oil until we find renewable energy sources.

I am unfamiliar with the Canadians practices. What are they doing that is so bad for the environment?
 
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I am unfamiliar with the Canadians practices. What are they doing that is so bad for the environment?

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To begin with, they are Socialists. They might even have Communistic leanings. Probably will morph into Marxism before the decade is over.


Either way you slice it, Canada is out to destroy the world and the American way of life.



SZ
 
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I am unfamiliar with the Canadians practices. What are they doing that is so bad for the environment?

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To begin with, they are Socialists. They might even have Communistic leanings. Probably will morph into Marxism before the decade is over.


Either way you slice it, Canada is out to destroy the world and the American way of life.



SZ

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Thats one way of looking at their country.

I am more interested in what they are doing while oil drilling that is hurting the environment. i always thought of Canada as a very conscious country when it comes to safety and the environment?
 
There's nothing wrong with strong nationalism being practiced by a nation, a supposedly free republic, one nation under god. It's the essence of our sovereignty that our constitution is meant to preserve and protect.

It's ridiculous to bicker with our canadian brothers who have always been our best trading partner, their standards meet or exceed our own, making them ideal trading partners.

What's changed ever so subtly is this treasonous notion of trading and getting all buddy buddy with all these assorted communists, dictators and tyrants around the world, and the exploitation of their cheap labor to put bigger profits in multinational corps pockets, basically selling out an entire class of the lowscale population of America itself.

Somehow, this new neocon mindset circumvents low class American citizens despite any imagined constitutional protections they claim, saying to them your labor skills have been outsourced beyond our borders and you must now be retrained or accept a lower standard of living so certain corps can profit from playing god with your constitutional rights.

If you had told Dwight D. Eisenhower this BS, you would have been taken out and shot for treason against your own country!

There aint nothing complicated here, treason, high treason.

jomoco
 
Fine, Bull, but you asked why Congress wouldn't approve the drilling....which is wrong, as it is happening.

The tar sands are far different, as they involve huge open pip exploitation, and are really raping the environment. Plus, massive amounts of greenhouse gases produced.
 
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Plus, massive amounts of greenhouse gases produced.

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Rush told me that massive amounts of greenhouse gas is probably a good thing. He told me that from the golden microphone at the excellence in broadcasting network.


He's a real broadcaster.


He is excellent.


He seems like the kind of guy that would wear tons of gold.


SZ
 
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Plus, massive amounts of greenhouse gases produced.

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Rush told me that massive amounts of greenhouse gas is probably a good thing. He told me that from the golden microphone at the excellence in broadcasting network.


He's a real broadcaster.


He is excellent.


He seems like the kind of guy that would wear tons of gold.


SZ

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You listen to Rush, kinda weird StePHan! Didnt picture you as listening to a drug addict nutjob
 
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Fine, Bull, but you asked why Congress wouldn't approve the drilling....which is wrong, as it is happening.

The tar sands are far different, as they involve huge open pip exploitation, and are really raping the environment. Plus, massive amounts of greenhouse gases produced.

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I understand we ARE drilling there. What I am getting at is why arent we trying to send more crews here? Why isnt there MORE drilling? That report says that this is the largest CONTINUOUS band of oil in the US right now, and one of the largest ever. I have read other reports that say if we put our resources and technology here we could tell all foreign oil, and OPEC to piss off we dont need ya!

Maybe I am getting one sided reports though? What am I missing?
 
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He seems like the kind of guy that would wear tons of gold.


SZ

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I have a very nice, very tacky, GOLD present all made up for you. I'm debating whether I should mail it or wait till the CAA TCC.

I'm good at tacky.
 
It's simple BB, with a global excess of oil on the market due to the current global recession, supply and demand will cause the oil prices to plummet even further unless big oil colludes together as a group to restrict supply enough to justify a return of high prices and mega profits again.

And this is exactly what they are doing, producing wells in the US are currently being capped off until better times by American oil companies left and right in almost every oil producing state.

No free competition exists to prevent this collution in our country any longer because our govt allowed what used to be thousands of small independent oil companies to merge together into an elite dozen or so giants that have the vast lion's share of US oil leases sewn up and sitting on their shelves until another killing that can be justified like two years ago.

Big oil has an almost exclusive monopoly on US oil leases, and no real interest in ever selling oil again at 15 bucks a barrel, so capping wells by the thousands until OPEC can find it's true bottom price, is exactly what is happening right now as we type.

http://www.nytimes.com/2009/03/15/business/15drilling.html?hp

The reason oil companies use $15 to vet investement returns is not because they expect oil to be $15 but because they know the OPEC nations can make oil $15 any time they please. This is why alternative energy investment is likewise insensitive to the market priceof oil but instead responds the cheapest marginal production cost of traditional energy sources. As long as the threat of OPEC rendering your multibillion dollar investment worse than worthless remains you won't see private investment.

{Unquote}



jomoco
Click to expand...
 
I read an article where it states that 90% of oil and natural gas wells in the US are done by small independent businesses, not by big oil. You think we have a problem now, wait until Obama's attacks the oil industry.
 
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I read an article where it states that 90% of oil and natural gas wells in the US are done by small independent businesses, not by big oil. You think we have a problem now, wait until Obama's attacks the oil industry.

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Yeah, poor little patriotic oil industry. That bad Obama man is gonna make you share some of those absurdly high profits you turned. What is this world coming to when a CEO can't pocket $400K per day anymore?
 
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