Need to Drill Dangerous Wells
There are 163 rigs drilling in North
Dakota as of today. Expect 200 rigs by summer.
Following from North
Dakota Geological Survey website.
Output may reach 300,000 to 400,000 barrels a day by mid-2011 and stay at that
level for 10 to 15 years, said Lynn Helms, director of the North Dakota Mineral
Resources Department. The state's previous estimate was 220,000 to 280,000.
North Dakota oil production has tripled since 2003, to 245,290 barrels a
day, making it the No. 4 U.S. oil state, behind only Texas, Alaska and
California. Helms said the state currently is pumping about 350,000 barrels of
crude per day and was on pace to produce about 110 million barrels in 2010, up
from 79.7 million last year and more than double the amount produced less than
three years ago.
About six months ago, a news program was on about 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
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
"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 - 4/20/06
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 have 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.