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| Topic: DEMS say no to Lower Gas Prices | |
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America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant. In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation that covers North Dakota and portions of South Dakota and Montana. With new horizontal drilling technology it is believed that from 175 to 500 billion barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951. The USGS did an initial study back in 1999 that estimated 400 billion recoverable barrels were present but with prices bottoming out at $10 a barrel back then the report was dismissed because of the higher cost of horizontal drilling techniques that would be needed, estimated at $20-$40 a barrel. It was not until 2007, when EOG Resources of Texas started a frenzy when they drilled a single well in Parshal N.D. that is expected to yield 700,000 barrels of oil that real excitement and money started to flow in North Dakota. Marathon Oil is investing $1.5 billion and drilling 300 new wells in what is expected to be one of the greatest booms in Oil discovery since Oil was discovered in Saudi Arabia in 1938. The US imported about 14 million barrels of Oil per day in 2007 , which means US consumers sent about $340 Billion Dollars over seas building palaces in Dubai and propping up unfriendly regimes around the World, if 200 billion barrels of oil at $90 a barrel are recovered in the high plains the added wealth to the US economy would be $18 Trillion Dollars which would go a long way in stabilizing the US trade deficit and could cut the cost of oil in half in the long run. http://www.nextenergynews.com/news1/next-energy-news2.13s.html This is a perfectly legal spot to drill. It requires no lifting of moratoriums, or new offshore oil drilling. Or killing of Marine life! The problem is that the oil companies have established ties with Saudi and other countries revolving around oil and if we start drilling here those deals go cold, not benefiting the oil companies anymore. We DO need to put MUCH more effort into alternatives to oil. So really there was nothing wrong with what the senator said at all. From what I understand dragoness is N Dakota and Wyoming are developing this oil supply on their own the way they see fit. The jobs pay good, but not like Exxon or Mobil. Still good though, and they are sharing the revenues with the land owners. Im going to check it out more after my final. The companies hiring look like mostly local well drilling companies. I haven't seen any for the big oil companies at all. I think Bush wants to end the moratorium for competition reasons. This supply doesn't need the moratorium lifted to tap. In fact they are already tapping it. The reason they hadn't sooner was the cost. When oil prices went so high recently it finally made it economical to drill. I smell a rat too! |
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Edited by
Fanta46
on
Wed 07/23/08 10:12 PM
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Regardless of this oil though we still need to find a viable alternative.
A cleaner greener source. I cant see destroying our coastlines like the Republicans are suddenly pushing, and I cant see a reason for them trying to make such a big deal of it on the news! There has to be something in it for them..... I think it might have to do with market share!! |
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Regardless of this oil though we still need to find a viable alternative. A cleaner greener source. I cant see destroying our coastlines like the Republicans are suddenly pushing, and I cant see a reason for them trying to make such a big deal of it on the news! There has to be something in it for them..... I think it might have to do with market share!! Fanta, It's because their noses are firmly up the butts of the oil company executives, and they will do whatever the oil companies tell them to do. |
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Regardless of this oil though we still need to find a viable alternative. A cleaner greener source. I cant see destroying our coastlines like the Republicans are suddenly pushing, and I cant see a reason for them trying to make such a big deal of it on the news! There has to be something in it for them..... I think it might have to do with market share!! Fanta, It's because their noses are firmly up the butts of the oil company executives, and they will do whatever the oil companies tell them to do. Yep! Im with you there! 
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Regardless of this oil though we still need to find a viable alternative. A cleaner greener source. I cant see destroying our coastlines like the Republicans are suddenly pushing, and I cant see a reason for them trying to make such a big deal of it on the news! There has to be something in it for them..... I think it might have to do with market share!! Interesting info on North Dakota field. We've seen how energy prices affect almost every aspect of our economy. I'd like to see us tap into our own oil fields and keep those dollars in our country. I worry that new finds like this will send everyone back to their old habits for the next 3-5 years and forget about alternative energy sources. We do need some stop gap measures until new sources like hydrogen, solar etc come on line. |
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Quikstepper you are a piece of work. I am so glad you are here to tell me what democrats think. Where would the posters here be without you?
Right now 80% of public land is open to drilling. The leases on these lands are often obscenely small and once oil is discovered, extracted, processed and sold the people who own the land (all of us) do not profit at all. So, should we reward companies who have created a crisis based on fear, speculation, war profiteering, refusal to commit their own capital to necessary improvements (no new gas processing plants have been built in the US in appox. 23 years) and profited handsomely by giving them free rein over all public lands and even less accountability and laxer environmental standards? Gee yes, sounds like a great idea to me! This is not a democratic versus republican issue it's a have versus the have nots issue on both the national and international fronts. |
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Regardless of this oil though we still need to find a viable alternative. A cleaner greener source. I cant see destroying our coastlines like the Republicans are suddenly pushing, and I cant see a reason for them trying to make such a big deal of it on the news! There has to be something in it for them..... I think it might have to do with market share!! Interesting info on North Dakota field. We've seen how energy prices affect almost every aspect of our economy. I'd like to see us tap into our own oil fields and keep those dollars in our country. I worry that new finds like this will send everyone back to their old habits for the next 3-5 years and forget about alternative energy sources. We do need some stop gap measures until new sources like hydrogen, solar etc come on line. I worry about this too Check out the jobs. I dont see Exxon or any of the big oil giants represented. I think N Dakotas move to recover this oil without them is directly linked to the Republicans call to lift the moratorium. |
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Quikstepper you are a piece of work. I am so glad you are here to tell me what democrats think. Where would the posters here be without you? Right now 80% of public land is open to drilling. The leases on these lands are often obscenely small and once oil is discovered, extracted, processed and sold the people who own the land (all of us) do not profit at all. So, should we reward companies who have created a crisis based on fear, speculation, war profiteering, refusal to commit their own capital to necessary improvements (no new gas processing plants have been built in the US in appox. 23 years) and profited handsomely by giving them free rein over all public lands and even less accountability and laxer environmental standards? Gee yes, sounds like a great idea to me! This is not a democratic versus republican issue it's a have versus the have nots issue on both the national and international fronts. Gee? I guess you missed all the irrational hate replies coming from your pals on the board huh? No matter... I think they (the politicans) are ALL dangerous & crooks... not just REPS...like some here want everyone to believe. That's my point. What's yours? |
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