Venezuela oil 'may double Saudi Arabia'

Quote from tmarket:
In a new assessment (PDF), government geologists with the United States Geological Survey have provided a dramatic new estimate of how much oil is “technically recoverable” from these oil sands, in an area known as the Orinoco oil belt: 513 billion barrels of heavy oil.

While this is indeed impressive, lets not forget the United States already has almost 3 times that amount in oil shales in Colorado, Utah and Wyoming.

Its called the Green River Formation and current estimates range from 1T barrels to 1.4T barrels of "technically recoverable" oil.

http://pubs.usgs.gov/sir/2005/5294/pdf/sir5294_508.pdf
http://en.wikipedia.org/wiki/Green_River_Formation
 
Quote from auspiv:

...the United States already has almost 3 times that amount in oil shales in Colorado, Utah and Wyoming.

What probably will be never mined in decent quantities, due to lack of aviable water...

Quote from tmarket:

Peak oil?

Yes, but I raise you with peak water!
 
Quote from zdreg:

are u one of those people who would like to make Canada part of the US or are you one of those clueless wonders on ET who think that Canada is already part of the US?

...touch a nerve?...eehhh?....
 
I don't know whether to believe the email below. Would someone please give me their comments?



THIS IS AMAZING AND THE BACKUP PROOF IS AT THE END!!!



I was blown away after I read this. We must take our government back.





Billy Don To: 912Project



The Real Oil Fields of the U.S.A.



The Bakken oil field - article checked through link at the end for authenticity.







About 6 months ago I was watching a news program on oil

and one of the Forbes Bros. was the guest. This is out of

context, but this is the actual question as asked. 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 ('08) that

only scientists and oil men 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 this 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....

2041 years straight, at the present rate of consumption.



02.) And if THAT didn't throw you on the floor, then this next one

should - because it's from.....



TWO YEARS AGO!



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?



Got your attention/ire up yet? Hope so! Now, while you're

thinking about it .... and hopefully P.O'd, do this:



03.) Pass this along. If you don't take a little time to do this, then you

should stifle yourself the next time you want to complain about

gas prices--- because by doing NOTHING, you've forfeited your

right to complain



----------------------------------------------------------------------------------



Now I just wonder what would happen in this country

if every one of you sent this to every one in your

address book, "Bcc:" of course.



By the way...this is all true.



Check it out at the link below!!!



GOOGLE it or follow this link.



It will blow your mind.

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

...touch a nerve?...eehhh?....

not really.

just a reminder how uneducated americans are and just 1 more reason china is kicking american ass everyday although i think there is a small chance they might back off from google.
 
SPAM


Quote from accutrader:

I don't know whether to believe the email below. Would someone please give me their comments?



THIS IS AMAZING AND THE BACKUP PROOF IS AT THE END!!!



I was blown away after I read this. We must take our government back.





Billy Don To: 912Project



The Real Oil Fields of the U.S.A.



The Bakken oil field - article checked through link at the end for authenticity.







About 6 months ago I was watching a news program on oil

and one of the Forbes Bros. was the guest. This is out of

context, but this is the actual question as asked. 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 ('08) that

only scientists and oil men 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 this 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....

2041 years straight, at the present rate of consumption.



02.) And if THAT didn't throw you on the floor, then this next one

should - because it's from.....



TWO YEARS AGO!



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?



Got your attention/ire up yet? Hope so! Now, while you're

thinking about it .... and hopefully P.O'd, do this:



03.) Pass this along. If you don't take a little time to do this, then you

should stifle yourself the next time you want to complain about

gas prices--- because by doing NOTHING, you've forfeited your

right to complain



----------------------------------------------------------------------------------



Now I just wonder what would happen in this country

if every one of you sent this to every one in your

address book, "Bcc:" of course.



By the way...this is all true.



Check it out at the link below!!!



GOOGLE it or follow this link.



It will blow your mind.

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

are u one of those people who would like to make Canada part of the US or are you one of those clueless wonders on ET who think that Canada is already part of the US?

What are you talking about? Everybody knows that Canada is the 48th state! Dumb ass!

:D
 
First, when XYZ company say's they discovered X amount of oil a few things one has to keep in mind.

1. It's still in the ground. It has not been drilled, there is no Flow from the Sands.

2. All those numbers mean nothing..as it is based on Volumetrics and thats it. It's a guess. Nobody really knows until the wells come on line as commerical production.

3. Drilling to Deepth is a risky business. There are huge factors that could spin the drill bit into the mud and get it stuck...caseing collapse from to much pressure.....etc etc etc...a lot of risk.

These are just three points, I can write a list of 100.

So, as demand outstrips supply and the Saudis do not allow anyone to ck their Pumps and meters or even do any caculations.
Be very aware.

Ask yourself , why is China spending 17 billion to buy oil producing fields.

and why is oil above the lows of 30?

I am biased as I have made my wealth in oil the last 3 years. And I believe I will continue to climb the wealth ladder for the next decade...thanks to oil.
 
Quote from accutrader:

I don't know whether to believe the email below. Would someone please give me their comments?

http://www.usgs.gov/newsroom/article.asp?ID=1911
Lots of hype in that email. Remember, whenever you hear big numbers being thrown around, you have to be a little discriminating - understand concepts such as potential, probable, and recoverable.

Here's a good article on the Bakken Formation, written by a petroleum engineer:

http://www.theoildrum.com/node/3868

My opinion - it's still cheaper to have our military bases near oil wells (that spew oil practically on their own) halfway around the world then to grind up and bake rock in our own backyard to get at the stuff.

By the way, snopes has this to say on the email's origins:

http://www.snopes.com/politics/gasoline/bakken.asp
 
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