So much for Peak Oil: Massive Oil Deposit Found In North Dakota?

Author Topic: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?  (Read 39553 times)

0 Members and 1 Guest are viewing this topic.

AmericasPatriot

  • Guest
So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« on: February 17, 2008, 12:12:48 PM »
The Rockefellers and Rothschilds are definitely going to go out of their way to cap this field.   And what's even more coincidental, a large portion of it is under the Lakota Nation.  So the New World Order is definitely going to target them for eliminaton.




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

http://www.nextenergynews.com/news1/next-energy-news2.13s.html

Massive Oil Deposit Could Increase US reserves by 10x

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.

Offline Joe(WI)

  • Member
  • *****
  • Posts: 2,272
    • Knowledge
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #1 on: February 17, 2008, 01:37:14 PM »
Same thing happened to Saddam, pump the stuff, I hate to see what unka Sam will do to them. What will Bush do, declare ancestrals terrorists? I know he can't call them domestic terrorists. Pull a Chavez?

I do wish them the best, because it is best for all.
The number, 666, has been changed. The new number is, 999.

strgzr

  • Guest
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #2 on: February 17, 2008, 02:11:27 PM »
Lakotah Elder
Russell Means Speaks Out!

Lakotah, formally and unilaterally withdraws from all agreements and treaties imposed by the United States Government on the Lakotah People.

http://www.youtube.com/watch?v=Hm0JIgVHypQ&eurl=http://www.republicoflakotah.com/

FREEDOM!


Today is a historic day and our forefathers speak through us. Our Forefathers made the treaties in good faith with the sacred Canupa and with the knowledge of the Great Spirit, They never honored the treaties, that is the reason we are here today...Garry Rowland, Wounded Knee

http://www.republicoflakotah.com

Lakotah Unilateral Withdrawal from All Agreements and Treaties with the United States of America

We as the freedom loving Lakotah People are the predecessor sovereign of Dakota Territory as evidenced by the Treaties with the United States Government, including, but not limited to, the Treaty of 1851 and the Treaty of 1868 at Fort Laramie.

Lakotah, formally and unilaterally withdraws from all agreements and treaties imposed by the United States Government on the Lakotah People.

Lakotah , and the population therein, have waited for at least 155 years for the United States of America to adhere to the provisions of the above referenced treaties. The continuing violations of these treaties’ terms have resulted in the near annihilation of our people physically, spiritually, and culturally. Lakotah rejects United States Termination By Appropriation policy from 1871 to the present.

In addition, the evidence of gross violations of the above referenced treaties are listed herein. Lakotah encourages the United States of America, through its Government ,to enter into dialogue with Lakotah regarding the boundaries, the land and the resources therein. Please contact the Republic of Lakotah  at (605) 867-1111 or info@republicoflakotah.com.

Should the United States and its subordinate governments choose not to act in good faith concerning the rebirth of our nation, we hereby advise the United States Government that Lakotah will begin to administer liens against real  estate transactions within the five state area of Lakotah.

Lakotah, through its government, appointed the following representatives to withdraw from all the treaties with the United States of America based on the Vienna Convention on the Law of Treaties entered into force in 1980 and the

U.N. Declaration on the Rights of Indigenous Peoples 2007:
Tegheya Kte
Heretofore known as Garry Rowland
Oyate Wacinyapin
Heretofore know as Russell Means
Mni yuha Najin Win
Heretofore known as Phyllis Young

Republic Of Lakotah P.O. Box 99 Porcupine Lakotah 57772

(more) http://www.republicoflakotah.com







Offline zstowasser

  • Member
  • *
  • Posts: 14
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #3 on: February 20, 2008, 11:05:09 PM »
Wow if this is true, this would be huge.  I wonder what the supply rate could be, could we end our imports completely?

Offline Kregener

  • Member
  • *****
  • Posts: 2,727
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #4 on: February 20, 2008, 11:08:49 PM »
Thats where all them deenosaurs were at. That is why there is so much oil there, them deenosaurs all died right there.

 ;)
Going to church does not make you a Christian any more than going to a hospital makes you a doctor.

Stop thinking in terms of left and right and start thinking in terms of right and wrong

Offline freedom7

  • Member
  • ***
  • Posts: 242
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #5 on: February 21, 2008, 04:57:47 PM »
Where is the news? How can this not be covered?? More proof...

Offline Dig

  • All eyes are opened, or opening, to the rights of man.
  • Member
  • *****
  • Posts: 63,090
    • Git Ureself Edumacated
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #6 on: February 22, 2008, 07:54:36 PM »
Where is the news? How can this not be covered?? More proof...

not during another britney moment, they do not have enough minutes in the 4 - 24hour news networks for such a low priority item as multiple successions (we are so busy supporting kosovo succession that we forgot about our own).
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

Offline WeAreChangeNewMexico

  • Member
  • **
  • Posts: 58
    • WE ARE CHANGE NEW MEXICO
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #7 on: March 07, 2008, 11:19:41 AM »
And to think what happened to WACO and they didn't have any OIL...
Unlike Norad, We Refuse To Stand Down

Offline alpha82301

  • Member
  • ***
  • Posts: 128
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #8 on: June 12, 2008, 10:08:01 PM »
this is not new this is old news and  a difference that  makes no difference is no difference
lets start the new revolution ! power from God and the Constitution to all free men and women! God made man to be free .man made men into slaves

Offline White Rose Sophie

  • Member
  • *****
  • Posts: 2,141
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #9 on: July 02, 2008, 06:07:26 AM »
not during another britney moment, they do not have enough minutes in the 4 - 24hour news networks for such a low priority item as multiple successions (we are so busy supporting kosovo succession that we forgot about our own).

Here's another recent quote about it:

http://www.redorbit.com/news/business/1318522/research_on_bakken_formations_oil_reserves_nearly_completed/

I just sent this link to my asleep-sister and family.

Nothing helps wake people up like a hit to their wallet.   ;)

Offline iks83

  • Member
  • *****
  • Posts: 2,519
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #10 on: July 02, 2008, 06:50:57 AM »
Hmm going back to the first news article

Quote
...giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant.

So does that mean the US can kill more people without any consequences?

Offline White Rose Sophie

  • Member
  • *****
  • Posts: 2,141
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #11 on: July 02, 2008, 10:04:09 PM »
Hmm going back to the first news article

So does that mean the US can kill more people without any consequences?

Only the ones that own/live on that land silly.   :P

Offline alpha82301

  • Member
  • ***
  • Posts: 128
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #12 on: July 02, 2008, 10:10:18 PM »
if we all had an oil well in ar back yards and a refinery down the block they would find another reason for killing  what evers in fashion >:(
lets start the new revolution ! power from God and the Constitution to all free men and women! God made man to be free .man made men into slaves

Offline Switters

  • Member
  • **
  • Posts: 87
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #13 on: July 03, 2008, 04:05:03 PM »
Interesting, I was just reading this article the other day....

http://ap.google.com/article/ALeqM5h9zlazjQ5gyiwGCJyicBVcOTgcVQD91KA2OO1

Good to see local folks actually gaining the benefits of this find.  Also odd to see North Dakota as a state, climbing up the nations wealth charts... who would've thought.  No mention of the Lakotas in that article though, I knew nothing about that.

And while I'm ignorant on the mechanics of oil drilling, the article did mention "horizontal" drilling.  And that leads me to think that they could actually drill right under Lakota and just pump the oil out into a "safe zone".

I'd also be curious to see how much land has recently been bought all around that area, and WHO bought it.
Babylon makes the rules....and the people suffer - Bob Marley

Offline plantop14

  • Member
  • *****
  • Posts: 1,690
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #14 on: July 03, 2008, 04:09:07 PM »
No surprise there, peak oil is a sham like global warming is a sham! NWO is full of shams and shit for that matter! ;)
AK47, Glock23 & Mossy590 is my family's Life Insurance policy, what is yours?

Offline alpha82301

  • Member
  • ***
  • Posts: 128
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #15 on: July 03, 2008, 06:59:04 PM »
Interesting, I was just reading this article the other day....

http://ap.google.com/article/ALeqM5h9zlazjQ5gyiwGCJyicBVcOTgcVQD91KA2OO1

Good to see local folks actually gaining the benefits of this find.  Also odd to see North Dakota as a state, climbing up the nations wealth charts... who would've thought.  No mention of the Lakotas in that article though, I knew nothing about that.

And while I'm ignorant on the mechanics of oil drilling, the article did mention "horizontal" drilling.  And that leads me to think that they could actually drill right under Lakota and just pump the oil out into a "safe zone".

I'd also be curious to see how much land has recently been bought all around that area, and WHO bought it.
firs of what your talking about is derectional  drilling you can steer the drill bit  second  its not about oil sopplies theirs moor than enough  supplies  its about getting smuckes to think there is a shortage
lets start the new revolution ! power from God and the Constitution to all free men and women! God made man to be free .man made men into slaves

Online TahoeBlue

  • Global Moderator
  • Member
  • *****
  • Posts: 17,754
Gas Hydrates - North Slope Alaska - 32000TCF/24TCF = 1000+ years
« Reply #16 on: November 11, 2008, 07:01:49 PM »
So far no oil/gas company has produced Gas Hydrates. But we have got alot of the stuff.

Also in natural gas, there is 10-25 years worth on the north slope.

The Nat Gas line proposed would only support 10% or 2.5TCF US requirements (why not a more/bigger pipe(s)?).

Review of Alaska O & G Developments 2005:
http://www.dog.dnr.state.ak.us/oil/products/slideshows/pac_com_expo_2005.pdf

In 2006, U.S. natural gas consumption reached 21.6 trillion cubic feet
Alaska North Slope
kr  ru   hy      coalbed
35 242 32000 800 (TCF)

Also on Gull Island they claim it's not a big deal...
http://wilco278.wordpress.com/2008/07/12/mr-williams-and-gull-island-oil/

In a response to Rep. Stump’s 1981 letter AOGCC Commissioner Harry Kugler set the record straight on the two Gull Island wells that had been drilled at that time (Gull Island State No. 3 wasn’t drilled until 1992). The Gull Island No. 1 well tested 1,144 barrels of oil per day in “the equivalent of the North Prudhoe Bay (Permo-Triassic) reservoir,” while the Gull Island No. 2 well tested 2,971 barrels of oil per day from the Lisburne, Kugler said.

“We do not believe the evidence from these two wells indicates a massive new oil find,” Kugler said. “Additional wells will have to be drilled and additional studies made before the economic feasibility of developing these known reservoirs is determined.”

“Both the geologic evidence and the small area not yet developed into oil fields around the Gull Island wells preclude the possibility of a giant oil accumulation,” Bird said.

Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Offline peepnklown

  • Member
  • *****
  • Posts: 528
  • Rabbi Minarchist
    • FJPX2
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #17 on: November 30, 2008, 04:16:13 AM »
Well, proclaiming independence is the beginning.
We’ll see how much the Lakotah want independence soon enough.
If America got into the import/export business of oil, we could bring competition to the oil market. 
FJPX2 = Experimental Electronic Music

Online TahoeBlue

  • Global Moderator
  • Member
  • *****
  • Posts: 17,754
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #18 on: January 11, 2009, 08:38:14 PM »
Marathon Announces Natural Gas Discovery in New Area of Oklahoma's Woodford Shale Resource Play
Discovery Marks World's First Totally Interventionless Gas Well Completion

HOUSTON, Jan. 7 /PRNewswire-FirstCall/ -- As part of the Company's targeted expansion into key resource plays of North America, Marathon Oil Corporation (NYSE: MRO) announced today that it has participated in a successful step-out discovery well on the Brickyard prospect, located in the northeast area of the Anadarko Basin, targeting the Woodford Shale resource play in Canadian County, Oklahoma.

The Cana No. 1-15H discovery well was drilled to a true vertical depth of 13,177 feet and horizontally for 4,090 feet, for a total measured well depth of 17,267 feet. The well flowed at an initial rate of 5.2 million cubic feet of gas per day. Marathon is the well operator and holds approximately 57 percent interest in the Cana No. 1-15H well. Other interest owners include Questar Corporation and Cimarex Energy.

"Marathon is encouraged by the results of the Brickyard prospect as we continue to develop the emerging Woodford Shale resource play," stated Annell R. Bay, senior vice president, Worldwide Exploration. "We are using 3-D seismic technology to better define our targets and applying advanced drilling technology to reduce drilling days and well costs thereby improving overall well economics."

Marathon holds approximately 30,000 net acres in the expanding Woodford Shale resource play with approximately 10,000 of those net acres in the immediate Brickyard prospect area. The Company is currently drilling two additional company-operated wells and is participating in two non-operated wells in the Brickyard prospect. Marathon also plans to participate in 15 to 25 gross wells in this area through 2010 with an anticipated 50 percent overall working interest. This limited program is designed to enhance the company's technical understanding of the play and reflects the company's focus on capital discipline. Marathon expects that with the successful development of this program, the play could yield an additional 200 to 300 gross locations.


 Marathon is an integrated international energy company engaged in exploration and production; oil sands mining; integrated gas; and refining, marketing and transportation operations. Marathon has principal operations in the United States, Angola, Canada, Equatorial Guinea, Gabon, Indonesia, Ireland, Libya, Norway and the United Kingdom. Marathon is the fourth largest United States-based integrated oil company and the nation's fifth largest refiner. For more information, visit the Company's Web site at www.marathon.com.
 
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Offline NiceTreatyPartDeux

  • Member
  • *
  • Posts: 5
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #19 on: March 07, 2009, 12:15:41 PM »
wow, very strange

Online TahoeBlue

  • Global Moderator
  • Member
  • *****
  • Posts: 17,754
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #20 on: December 18, 2009, 10:53:20 PM »
A Must read: Leigh Price 400 Billion bll estimate for Bakken Oil

http://www.undeerc.org/Price/

http://www.undeerc.org/Price/TextVersion.pdf
...
Our calculations suggest that 413 billion barrels of oil have been generated with a potential upside of 503 billion and a minimum of 271 billion.

These numbers are larger then the three previously published estimates of 92, 132, and 150 billion barrels.

The Oil Rush of North Dakota

Notice the USGS low balling the amount of oil to 4 billion barrels (like they did with Alaska which has 10-50 times more more than the "USGS estimate") while other experts say 400 Billion. They cannot let Americans have a domestic oil supply. Also notice the "three previously published estimates 90-150 Billion barrels"!

http://www.usgs.gov/faq/faq.asp?id=1029&category_id=94

Although there have been several published and unpublished estimates of the volumes of oil and gas in the Bakken Formation, there is no agreement on the actual volume of resource remaining in the Formation. There is no way to know how much is in the Bakken Formation or any formation until the area is actually drilled and produced. Estimates are made using the best available information at the time, and different estimates use different assumptions. The USGS uses a consistent methodology, so our estimates are comparable, and our assumption and methodology are published, so people know what we did. Our assessment methodology can be found on-line at http://energy.cr.usgs.gov/oilgas/noga/methodology.html.

The USGS estimate of 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in the Bakken Formation, and a mean estimate of 3.65 billion barrels, is an estimate of what industry may recover if the entire area of prospective Bakken Formation is produced using current technology.

The current USGS mean estimate is a 25-fold increase over the previous USGS estimate, in 1995, of 151 million barrels of undiscovered technically recoverable oil in the Bakken Formation. As of August 2009, cumulative oil production from the Bakken Formation totaled about 190 million barrels (up from 164 million barrels in March 2009, 149 million barrels in December 2008 and 135 million barrels in September 2008).

For additional information go to http://energy.cr.usgs.gov/oilgas/noga/ (choose Williston/Bakken in the interactive map to see all available documents).


http://www.bloomberg.com/apps/news?pid=20601072&sid=ayj1uo_gdNI4

Dakota Oil Fields of Saudi-Sized Reserves Make Farmers Drillers

June 3 2008 (Bloomberg) -- John Bartelson, who smokes Marlboro Lights through fingers blackened with tractor grease, may look like an average wheat farmer. He isn't. He's one of North Dakota's new oil barons.

Every month, he gets a check for tens of thousands of dollars from a company in Houston called EOG Resources Inc., which drilled two oil wells on his land last year. He says the day his first royalty check arrived was one to remember.

``I smiled to beat hell, and I went to town and had a beer,'' Bartelson, 65, says.

His new wealth springs from the Bakken formation, a sprawling deposit of high-quality crude beneath the durum wheat fields of North Dakota, Montana and southern Saskatchewan and Manitoba. The Bakken may give the U.S. -- the world's biggest importer of oil -- a new domestic energy source at a time when demand from China and India is ratcheting up the global competition for supplies and propelling average U.S. gasoline prices to almost $4 a gallon.

And unlike the tar from Canada's oil sands, Bakken crude needs little refining. Swirl some of it in a Mason jar and it leaves a thin, honey-colored film along the sides. It's light - -almost like gasoline -- and sweet, meaning it's low in sulfur.

Best of all, the Bakken could be huge.

The U.S. Geological Survey's Leigh Price, a Denver geochemist who died of a heart attack in 2000, estimated that the Bakken might hold a whopping 413 billion barrels. If so, it would dwarf Saudi Arabia's Ghawar, the world's biggest field, which has produced about 55 billion barrels.

Thin Deposit

The challenge is getting the oil out. Bakken crude is locked 2 miles (3.2 kilometers) underground in a layer of dolomite, a dense mineral that doesn't surrender oil the way more-porous limestone does. The dolomite band is narrow, too, averaging just 22 feet (7 meters) in North Dakota.

The USGS said in April that the Bakken holds as much as 4.3 billion barrels that can be recovered using today's engineering techniques. That's a fraction of the oil that Price said should be there, but it's still the largest accumulation of crude in the 48 contiguous U.S. states. North Dakota, where Bakken exploration is most intense now, won't become Saudi Arabia unless technology improves.

``The Bakken is the biggest thing in oil in the lower 48 right now,'' says Jim Jarrell, president of Ross Smith Energy Group Ltd., a research firm in Calgary. ``And among the least understood.''

Delaying the Peak

Some oil, like the 10.4 billion barrels estimated to be recoverable in Alaska's Arctic National Wildlife Refuge, remains off limits -- as a nature conservation measure -- even as President George W. Bush renews his calls for drilling there. North Dakota, already crisscrossed by farm roads, is open for business.

As traditional oil fields become scarce, exploration companies must tackle trickier ones to stay in business. Their success will determine when the world reaches peak oil -- the high point in production after which new supply will no longer be there to slake new demand. It's a gloomy concept. Peak oil theorists predict the mother of all oil shocks, complete with famine and wars for energy.

These days, big new oil deposits often come with caveats. Brazil's Petroleo Brasileiro SA says its offshore Tupi field contains as much as 8 billion barrels of oil, which the company hopes to start pumping next year. But the field is under more than four miles of water and rock, where pressure can crush drilling equipment.

Hedge Bus

The Bakken dolomite is hardly an obstacle, by comparison. And even if Price was too optimistic, the Bakken is big enough to make investors rich. Some have made fortunes already.

In April, a busload of hedge fund managers drove by Bartelson's land, ogling the metronomic pump jacks and the devilish orange flares of excess natural gas that are making parts of North Dakota look more like west Texas.

``There's nothing that can stop this play,'' says Mike Reger, chief executive officer of Northern Oil & Gas Inc., a five-person company near Minneapolis that has leased the mineral rights under 32,000 acres (13,000 hectares) in the North Dakota Bakken.

Reger, 32, brought the hedge fund managers up to see the oil field. Some, like Ryan Zorn of Houston-based investment management firm Saracen Energy Advisors LP, are investors in Northern already. Northern shares have risen 61 percent since being listed on the American Stock Exchange on March 26.

Fool's Gold

For decades, the Bakken was the fool's gold of the oil industry. The name describes a geological formation that looks like an Oreo cookie: two layers of black shale that bleed oil into the middle layer of dolomite. It's named after Henry O. Bakken, the North Dakota farmer who owned the land where the first drilling rig revealed the shale layers in the 1950s.

All of the layers are thin -- about 150 feet altogether -- and none of them give up oil easily. In older, vertical wells, oil would often flow for a month and then fizzle.

Now, companies like Austin, Texas-based Brigham Exploration Co.; Denver-based Whiting Petroleum Corp.; and EOG are drilling horizontally. They go straight down 10,000 feet and then put a slight angle in the mud motor, a 30-foot piece of tubing that drives the bit, so they hit the Bakken sideways, making a horizontal tunnel 4,500 feet long through the dolomite.

That exposes more of the oil-bearing rock. Then they pump pressurized water and sand into the hole to fracture the dolomite, making cracks for oil to seep through.

It eventually winds up in a pipeline that runs east to Clearbrook, Minnesota, and then south to Chicago.

Where Billionaires Roam

Several billionaires are at work in the Bakken. Harold Hamm's Enid, Oklahoma-based Continental Resources Inc. has leases on 487,000 acres in Montana and North Dakota. Hamm, who started out driving a truck, owns 73 percent of Continental, worth $7.9 billion. Philip Anschutz, 68, founder of Qwest Communications International Inc. and Regal Entertainment Group, is there, too.

So are two sons of billionaire H.L. Hunt, the 1930s wildcatter. Petro-Hunt LLC is owned by the trust estate of William Herbert Hunt, who was convicted in a civil trial with his brothers Lamar and Nelson Bunker of trying to corner the silver market in 1979. Hunt Oil Co., another Bakken operator, is owned by their half brother, Ray L. Hunt.

The big winner so far has been EOG, formerly a subsidiary of bankrupt energy trader Enron Corp. It drilled a horizontal well in western North Dakota just north of Parshall -- population 1,028 -- in April 2006. The well came online a month later and kicked out 1,883 barrels in the first seven days. Unlike the older vertical wells, it's still going. In March, it produced 2,305 barrels, according to the North Dakota Industrial Commission.

No Slam Dunk

EOG has eight rigs running on 320,000 acres of mineral leases in the North Dakota Bakken. The company said in its 2007 annual report that the area has the highest return of all the places in which it operates -- including Texas's Barnett Shale, the Gulf of Mexico coast and the Permian Basin of New Mexico.

The Bakken isn't foolproof. Far from it. Drilling there is expensive -- about $5 million a well, according to EOG -- and takes experience. Dallas-based Petro-Hunt's first well in the North Dakota Bakken didn't make money, company geologist Steve Bressler says. Brigham's Bergstrom Family Trust well came online at 277 barrels a day -- viable at today's high oil prices but not a gusher.

``There will be variances,'' says John Gerdes, an oil and gas analyst at SunTrust Robinson Humphrey Inc. in Houston. ``The rock matters. The people matter.''

Oil Rush

The success of EOG's Parshall well set off a land grab in North Dakota's Mountrail County. Land men -- the experts who move from boom to boom leasing mineral rights -- swarmed, paying ever higher prices for ground that for decades grew crops and concealed Cold War missile silos.

On private acreage, land men negotiate with mineral owners like Bartelson. They offer a bonus upfront to hold the mineral rights for three to five years, and they agree to pay a fraction of the revenue from any oil produced each month -- often from 1/8 to 3/16. On land with a producing well, the mineral lease lasts as long as the well does. On government land, the bonus is set at auction.

Bartelson in 2004 granted a five-year lease on 1,400 acres, under which he owns half the mineral rights. He got a bonus of $25 per mineral acre, or $17,500, plus one-sixth of any oil revenue. Times have changed since then. In November, Sinclair Oil Corp. of Salt Lake City paid $16,500 an acre at auction for half the mineral rights on 320 acres of government- owned land in the Parshall Field, according to the U.S. Bureau of Land Management.

`No Acreage'

``That's a record for Montana and North Dakota,'' BLM spokesman Greg Albright says.

Among the biggest companies punching holes in the North Dakota Bakken are Houston-based Marathon Oil Corp., the fourth- largest U.S. oil company, and Hess Corp. of New York, which is No. 5. No. 1 Exxon Mobil Corp. isn't active in the Bakken. John Freeman, an analyst at investment bank Raymond James & Associates Inc. in Houston, says Exxon is looking for bigger deposits overseas.

``Now, there's no acreage left,'' he says.

The truest believer in the Bakken might be Reger, the CEO of Northern Oil. He's certainly the loudest promoter.

Reger is a fourth-generation oilman. His great-grandfather managed operations for Mobil Oil, now part of Exxon Mobil, in the Williston Basin, the 110,000-square-mile (285,000-square- kilometer) geological formation in the northern plains that holds the Bakken and other deposits. Reger's grandfather leased land atop all of them. His father, uncle and brother are in the business, too.

``It's our basin,'' Reger says.

Bakken Hunters

If it works out the way Reger says, he and his partner, a former derivatives trader named Ryan Gilbertson, will be the Sergey Brin and Larry Page of the Bakken. Like the Google Inc. founders, Reger and Gilbertson are young -- Gilbertson is also 32 -- and they aren't afraid to roll the dice.

The lanky, blue-eyed Reger wears cowboy boots and a saucer-sized belt buckle emblazoned with an ``R.'' He vacationed this year in the Maldives in the Indian Ocean and insisted on a stopover to see Dubai's building boom. Gilbertson, meantime, shot a 10-foot-tall brown bear at eight paces in Alaska in 2007. He has a picture of him and the dead bear on the wall in his office.

`Son o' Bitches'

The future partners met while boating on Lake Minnetonka, outside Minneapolis. Gilbertson is from the area and traded derivatives for Piper Jaffray Cos. and a hedge fund firm named Telluride Asset Management LLC in nearby Wayzata, where Northern is based. Reger moved from Montana to St. Paul to attend the University of St. Thomas.

``We're both cowboy-boot-wearing, country-music-listening, gun-toting sons o' bitches,'' Gilbertson says. These days, they both drive black Cadillac Escalade SUVs and wear designer jeans.

Gilbertson says he knows more about interest-only mortgage bonds than he does about oil. But he says Northern will succeed because he and Reger weren't in business during the busts of earlier decades, so they aren't gun-shy today.

When EOG hit oil, they leased as many mineral rights in Mountrail County as they could, even as prices rose.

``The fear of these busts has clouded the judgment of so many players,'' Gilbertson says. ``We just grabbed everything with both hands.''

Turning Over Leases

Northern makes money without actually drilling or operating wells. Its strategy is like the game of Monopoly: lease in promising areas and get paid when someone else uses the land to drill.

The strategy is possible because of the way land is assembled for drilling. Reger's grandfather, uncle and father had made their money as lease brokers: They'd lease the land themselves or buy leases already granted and then sell them at higher prices to exploration companies.

Reger and Gilbertson intend to keep their leases, pay a share of the drilling costs and keep a portion of the oil revenue. Gilbertson says it was his idea. ``I saw the family's model as flawed,'' he says.

Leasing mineral rights means finding mineral owners. That's not always easy, because the farmer who owns the surface may not own the ``minerals,'' as they're known. Farmers can sell land and retain the minerals. When a mineral owner dies, the rights are often passed in equal portions to his or her children, Reger says, making them hard to track down.

Hauling County Records

To find mineral owners in Mountrail County, land men spend months in the courthouse, poring over photo-album-sized books that show who owns mineral rights and whether they've been leased.

One day in April, there were 50 people lugging books around. They line up well before the courthouse opens to get a spot on the first floor so they don't have to haul volumes up the stairs to an old law library that's been filled with folding tables to accommodate the horde.

Reger started leasing land for oil and gas exploration in Montana at age 15. He carried a portable typewriter to bang out contracts on landowners' kitchen tables.

It takes more than mineral rights to drill. Most western states are divided into neat little squares called sections. Each is one square mile, or 640 acres. If you want to drill an oil well in a section, you lease the mineral rights inside it. You don't need all of them, but you have to find all of the rights owners in that section and offer to let them participate.

This is where Northern makes its money.

Watching Permits

Reger's favorite time of day is 4 p.m., when the North Dakota Industrial Commission posts the names of companies that have gotten permits to drill. Very often, a rig is heading to a section in which Northern has mineral rights. He knows then that it will be a matter of time before he gets a letter from the company asking if he wants to share the cost -- and the revenue -- based on the percentage of mineral rights Northern controls in that section. He almost always says yes.

Reger makes it look easy because the Bakken is hot, says Summerfield ``Sam'' Baldridge, a partner at Montana Oil & Gas Properties Inc., founded by Reger's uncle, Steve, in Billings, Montana. Bigger companies are eager to drill, their wells are producing and oil prices are high.

``If it goes bad, you can go broke really quick,'' Baldridge says. ``You have to have guts and capital.''

Booms and Busts

Baldridge, 51, knows from experience. He was leasing mineral rights for Mobil in Montana in February 1986 when he heard on the radio that oil prices had plunged. In two days, a barrel of West Texas Intermediate crude fell to $15 from $20.

``We knew it was history,'' Baldridge says. ``From Calgary to Houston, everything went south.''

North Dakota has seen booms and busts from an array of oil deposits. The Bakken began forming 360 million years ago from dead algae that sank to the bottom of an ancient sea, where they were buried by successive layers of rock. Heat and pressure turned the algae into oil-saturated shale. Now it lies like a buried blanket under much of the Williston Basin.

Amerada Petroleum Corp. roughnecks started drilling what would become the first well in North Dakota on Sept. 3, 1950. They went through the Bakken before producing oil from deeper Silurian dolomite on April 4, 1951. A year later, Amerada (now Hess) finished the Henry O. Bakken well. Cuttings from the hole showed the shale layers that are now known by the same name.

Finding Porosity

Exploration in the Williston Basin grew for a few decades after that, ebbing and flowing with the price of oil. Mostly, drillers pursued deposits deeper than the Bakken. Those who tried to exploit it usually failed. The oil wouldn't keep flowing. ``Bakken was a four-letter word,'' says Dick Findley, a geologist in Billings.

In 1996, Findley, now 56, had a revelation. The consultant-turned-oilman went out to his rig in eastern Montana one night to check on things. At 2 a.m., it hit the Bakken dolomite and produced an unexpected rush of oil. Oil expands as it forms, and the pressure drives it into rock fractures. In the past, the dolomite hadn't seemed porous enough or fractured enough to release it.

``We got porosity that I didn't know existed,'' Findley says.

Findley and his partner, a land man named Bob Robinson, thought they could re-enter old wells and blast the middle dolomite layer with pressurized water to make cracks for crude to flow. They produced oil but not enough. So they turned to horizontal drilling. The technique had been around for decades.

500 Wells

Some had tried horizontal drilling in the Bakken in the early 1990s. They had aimed for the upper shale layer, though. Findley thought they could produce more by staying in the middle dolomite, even though the best, most porous rock was just 10 feet thick.

They drilled their first horizontal well in May 2000, blasted it with water, and the oil flowed. The field is called Elm Coulee, and today there are more than 500 wells there. Findley sold much of his interest to investors who could afford the drilling, though he still has an override -- a small percentage of any production.

Findley's success got others thinking about the Bakken. One was Michael Johnson, an independent geologist in Denver. Montana and North Dakota require companies to make public the information they collect when drilling, including gamma ray logs, which register the location of oil-bearing shale. Johnson examined logs from hundreds of wells east of Elm Coulee. He zeroed in on a dry one in Mountrail County that had similarities.

Word of Mouth

Johnson and two partners, land man Henry Gordon and geologist Robert Berry, leased about 38,000 acres in the area and shopped the mineral rights around. EOG bought 75 percent across all of the acres. In April 2006, EOG started drilling near a stream called Shell Creek. Workers drilled down some 9,000 feet and then started angling into the Bakken. They hit natural gas and crude.

Oil companies try to keep discoveries quiet so they can snap up more leases around them. Information travels fast in the Williston, though, where all of the roughnecks and rig operators know one another. Reger and Gilbertson had just formed Northern Oil when they got word from a lawyer in Montana that EOG had hit a big one. Reger sent his brother J.R. to lease as much land as he could, as close as he could, to EOG.

Pathfinder

In April, Reger took his busload of hedge fund managers to a well called Pathfinder being drilled by Slawson Exploration Co. out of Wichita, Kansas. Northern owns only 3 percent of Pathfinder but has land all around it. Success here would almost certainly mean more drilling in adjacent sections.

``From this location, we are literally masters of all we survey,'' Reger says.

The drill had hit the Bakken layer two weeks earlier, on Easter Sunday, producing a burst of natural gas. Where there's gas, there's often oil. As the rig clanks and groans like a motorized Godzilla, the hedge fund managers gather inside the trailer and crowd around the desk of Jon Starkweather, a ``mud logger'' who analyzes the rock chips coming up the hole. His window is covered with long charts that look like electrocardiograms.

``We landed this one just right,'' the bearded Starkweather says. Recent gas ventings, called kicks, confirm it.

Even if Reger and Gilbertson stopped gathering more mineral leases, they would make a fortune on what they have already, Reger says.

``I could take a nap for two years under my desk and wake up a hero,'' he says.

Millionaires

Reger's 14 percent stake in Northern is worth about $49 million. Gilbertson has shares worth $24 million. Whiting Petroleum's shares have more than doubled in the past 12 months, triple the 34 percent gain for a group of 96 energy companies in the Russell 2000 Index.

The other people doing well in the Bakken are the mineral owners under the oil wells -- folks like John Bartelson. Whiting paid them $56 million in 2007. EOG declines to say what it paid, though it's certainly more because it operates more wells. Whiting gets much of its Bakken revenue from shares of EOG wells it owns. It acquired them by buying Robert Berry's remaining stake in the Parshall acreage after EOG struck oil.

Bartelson's checks are about to get bigger. One more EOG well just came online, he says, and another is about to be fractured with water. Still another has been permitted for drilling. For now, he's farming. The oil market is fickle, he says. Previous crashes drove the rigs out of North Dakota for years, leaving only the wheat.

``It'll crash again,'' Bartelson says, sipping on a late- afternoon cup of coffee beside his tractor.

Maybe so. But with crude trading above $125 a barrel, it'll be a long time before the rigs leave again, and John Bartelson is likely to be a wealthy man before they do.
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Online TahoeBlue

  • Global Moderator
  • Member
  • *****
  • Posts: 17,754
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #21 on: December 18, 2009, 11:36:47 PM »
More about Dr. Leigh Price and the Bakken Oil and how the USGS take any real oil reserve estimate and divides it by 100

The lowest estimate ever made was 10 billion barrels and the next lowest 32 billion.
In a 2006 estimate: 200 BBbls later revised to 300 BBbls when the paper was presented in 2006

The question is how much of the oil is recoverable. Also most estimate are for 40-50 dollar a barrel oil.

Price also states that 50% of this oil is recoverable (on average, 200 billion barrels of oil).

https://www.dmr.nd.gov/ndgs/Bakken/newpostings/07272006_BakkenReserveEstimates.pdf
...

Bakken Formation Reserve Estimates
Julie LeFever and Lynn Helms
Executive Summary

Nature of the Controversy

All researchers agree that the Bakken Formation is a tremendous source rock. The controversy
lies with how much oil has been generated, what other formations it may have sourced, and how
much is ultimately recoverable. Early research on the Bakken started with a 1974 landmark paper
by Wallace Dow, a UND Geology graduate, that addressed the oil generation capacity of the
Bakken shale. Since that time, several additional papers have re-evaluated the Bakken, each
bringing its own controversy over how much oil the Bakken is capable of generating and more
importantly, how much of that oil can be economically produced.

The current controversy involves a paper by the late Dr. Leigh Price formerly of the United States
Geological Survey in Denver, Colorado
. He was an innovative thinker that challenged many of
the traditional viewpoints of petroleum geochemistry. After an extensive oil sampling program
by the North Dakota Geological Survey showed oil from the Bakken is compositionally distinct,
further work, additional analyses, and many discussions with Dr. Price resulted in the
controversial paper under review.

The methods used by Price to determine the amount of hydrocarbons generated by the Bakken
and the idea that the oil has not migrated out of the Bakken are under dispute.


History of Bakken Oil Generation Estimates

A landmark paper by Dow and a companion paper by Williams (1974) recognized the Bakken as
a tremendous source for the oil produced in the Williston Basin. These papers suggested that the
Bakken was capable of generating 10 billion barrels of oil (BBbls).


Webster (1982, 1984) as part of a Master’s Thesis at the University of North Dakota further sampled and analyzed the Bakken and calculated hydrocarbon generation capacities to be about 92 BBbls.

This data was updated by Schmoker and Hester (1983) who estimated that the Bakken was capable of generating 132 BBbls of oil in North Dakota and Montana.

Price (unpublished) used a more complete database and estimated that the Bakken was capable of generating between 271 and 503 BBbls of oil with an average of 413 BBbls.

New estimates of the amount of hydrocarbons generated by the Bakken were presented by Meissner and Banks (2000) and by Flannery and Kraus (2006). The first of these papers tested a newly developed computer model with existing Bakken data to estimate generated oil of 32 BBbls.

The second paper used a more sophisticated computer program with extensive data input supplied by the ND Geological Survey and Oil and Gas Division. Early numbers generated from this information placed the value at 200 BBbls later revised to 300 BBbls when the paper was presented in 2006.

...

The geological model presented by Price in his paper appears solid and is built upon considerable
input by North Dakota Geological Survey geologists, samples from the ND Core and Sample
Library, and the well files from the Oil and Gas Division.

A sophisticated computer program with extensive data input supplied by the ND Geological
Survey and Oil and Gas Division places the Bakken generated value at 200 – 300 BBbls.

How much of the generated oil is recoverable remains to be determined. Estimates of 50%, 18%,
and 3 to 10% have been published.

...
Price also states that 50% of this oil is recoverable (on average, 200 billion barrels of oil).
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Online TahoeBlue

  • Global Moderator
  • Member
  • *****
  • Posts: 17,754
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #22 on: February 15, 2010, 03:20:57 PM »
Interesting Bilderberg Bio for Robert Anderson - "finder" and producer of Prudoe bay North slope oil . ARCO is now owned by BP. Shows the controlled exploitation of our natural resources and the U.S. economy..... ARCO profits go to BP (Rothschild/The Queen etc...)

Bilderberger's in the Kennedy Administration
...
Anderson, Robert O.   Oil Wildcatter/ President, Aspen Institute for Humanistic Studies  United States
http://en.wikipedia.org/wiki/Robert_Orville_Anderson
In 1963, Anderson merged his company into the Atlantic Refining Company of Philadelphia. In 1966, as Atlantic's chairman and chief executive, he merged with Richfield Oil of Los Angeles, forming ARCO. Headquarters were based in Dallas.
In 1967 largest oil field yet found in North America at Prudhoe Bay on Alaska's North Slope
Anderson also led the seven-company effort to develop the Alaskan oil pipeline in 1974.

http://www.boston.com/bostonglobe/obituaries/articles/2007/12/06/robert_o_anderson_founded_atlantic_richfield_oil_co_at_90/

In 1941, he went to New Mexico with $50,000 in borrowed money and purchased control of an old oil refinery. His timing was fortuitous; when the United States entered World War II later that year, demand for oil escalated. Soon he was selling gasoline to air bases throughout the Southwest and diesel for the atom bomb project at Los Alamos National Laboratory.

By the end of the decade, he owned several refineries, built a pipeline system, and became a wildcatter. He entered the top ranks of independent oil producers in 1957 with a major find at the Empire-Abo field in New Mexico.

In 1962 he merged his operations with Atlantic Refining. In 1966, as Atlantic's chairman and chief executive, he struck a deal with Richfield that resulted in a new company, Arco.

In 1967, his persistence on oil exploration led to Arco's discovery of the largest pool of usable crude oil in North America, at Prudhoe Bay on Alaska's North Slope.

http://www.nytimes.com/2007/12/06/business/06anderson.html?_r=1&n=Top/Reference/Times%20Topics/People/M/Martin,%20Douglas

Beginning in 1957, he assembled a farming and ranching enterprise exceeding a million acres, rivaled only by the renowned King Ranch. He, David Rockefeller and another partner once owned another million acres in Brazil.

He favored lively discussion and wide-ranging research, serving for many years as chairman of the Aspen Institute for Humanistic Studies, which convenes business executives and others to discuss world problems. He helped found the Worldwatch Institute in Washington to monitor global environmental trends, the International Institute for Environment and Development in London to study environmental and food issues and the John Muir Institute of the Environment in Davis, Calif.

He was an oilman who warned of global warming caused by fossil-fuel consumption in the 1980s, and more than once advocated higher taxes on his industry.

He was also a Reagan Republican who held many top nonelected posts in the Republican Party and favored nuclear power and a smaller federal government.

He rescued two flailing publications, The Observer, a British newspaper, in 1977, and Harper’s magazine in 1980.
In 1982, he negotiated the first American offshore drilling operation in China.
Atlantic Richfield was bought by BP seven years ago. [year 2000]

[His father] Hugo A. Anderson and the former Hilda Nelson. Hugo was a prominent banker who, Robert said, was one of the first to lend money against proven but untapped oil reserves.
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5


Online TahoeBlue

  • Global Moderator
  • Member
  • *****
  • Posts: 17,754
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Offline jerryweaver

  • Moderator
  • Member
  • *****
  • Posts: 5,430
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #25 on: March 08, 2011, 11:05:51 AM »
WOW!!! How can we help to make this story go VIRAL???

http://www.rumormillnews.com/cgi-bin/forum.cgi?read=198282
AND THEY THOUGHT THE AMERICAN PEOPLE WOULD NEVER FIND THIS OUT!? [VKD]
-----------------------------------------------------------

OIL---you better be sitting down when you read this ! !

You "will" pay $5 a gallon + again and you won't complain loud enough to make a difference, RIGHT!

Here's an astonishing 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:

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 sizeable 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 mother load 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 yet? Now, while you're thinking about it, do this:

Pass this along. If you don't take a little time to do this, then you should stifle yourself the next time you complain about gas prices - by doing NOTHING, you forfeit 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.

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


Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,101
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #26 on: March 08, 2011, 11:12:28 AM »
For those who haven't already seen the following:

     http://forum.prisonplanet.com/index.php?topic=161441.0 (The manufactured myth of "peak oil")
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Wicked Jester

  • Member
  • ***
  • Posts: 203
  • It's ashame that stupidity isn't painful
    • WatchDog Media
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #27 on: March 08, 2011, 11:27:36 AM »
There is a reality show about this called BOOMTOWN....

The tiny town of Parshall, N.D., is isolated, windswept and frigid, like most northwestern American communities. With a population of 1,073, Parshall holds the record for the coldest temperature ever recorded in North Dakota (-60 degrees Fahrenheit). The economy of this small community, like so many other similar towns across America, has been in steep decline for many years. As manufacturing and farming jobs have moved overseas, town residents have sought greener pastures and a better life. But recently, something amazing happened: Below the wheat fields and the grocery store and the high school football field, surveyors discovered oil - barrels upon barrels of thick, unrefined, highly sought-after crude oil. Planet Green's original docu-series "BOOMTOWN", airing Saturdays at 10 PM (ET) beginning on January 29, tells the tale of this struggling American town in the midst of a profound reversal of fortune.

It airs on the Planet Green channel

Online TahoeBlue

  • Global Moderator
  • Member
  • *****
  • Posts: 17,754
Re: So much for Peak Oil: Massive Oil Deposit Found In North Dakota?
« Reply #28 on: September 07, 2017, 11:41:02 AM »
Trump looks pushed ...

https://www.youtube.com/watch?v=jiFBxlwmrds
President Donald Trump FULL SPEECH on TAX REFORM in Bismarck, North Dakota 9/6/17

Right Side Broadcasting Network
Streamed live 20 hours ago
Wednesday, September 6, 2017: Full replay of President Donald Trump's speech in Bismarck, ND on tax reform with workers from the energy sector.

https://www.youtube.com/watch?v=LPxdddyZvlk
President Trump TAX REFORM SPEECH in Bismarck, North Dakota 9/6/17 TRUMP LIVE SPEECH

TRUMP TV NETWORK
Streamed live 20 hours ago
WATCH: President Donald Trump Tax Reform Speech 9/6/17 at Event with Energy Workers - President Trump Participates in a Tax Reform Event with Workers from the Energy Sector - President Trump Remarks on Tax Reform
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5