OIL, AND PLENTY OF IT!


I'm only passing this along. If you don't believe it, then try checking it out.




Ever heard of the Bakken Formation?




Most of the drilling on the Montana side has been done in Richland County - Sidney - and things have really "boomed" around there. It also runs into Roosevelt County to the north. Richland is one of the counties I am the area manager for, so I work with the staff to make sure we are doing our job of fair & equitable taxation of the oil rigs as well as the sites after all


the drilling has been done. The oil companies are really good about reporting, so that helps. But they haven't even really tapped the surface for what is there nor used technology to do the horizontal drilling that other parts of eastern Montana have been doing (Pine Unit south of Glendive extending to Baker).


__________ _____




This is interesting reading, and just poking around the Internet recently, I simply 'Googled' the search 'Untapped U.S. Oil Reserves,' and the result (like the current price of a gallon of gas) BLEW ME AWAY! Go ahead, take a minute and see for yourself! Never mind, I'll share some of the highlights I found:




1. Ever heard of the Bakken Formation? GOOGLE it. I did, and again, it BLEW my mind. The U.S. Geological Service issued a report in April ('08) that only scientists and oilmen/women 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 2/3s 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 (EI A) 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 deposits decades ago. However,


a recent technological breakthrough has opened up the Bakken's massive reserves, and we now have access to 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 41 years straight.




2. 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.




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 we've not DEMANDED Legislation to come out of Washington allowing its extraction. That's 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 reserves of crude oil in the world today, reports The Denver Post.




Don't think “Big Oil” will drop its price—even with this find? Think again! It's all about the competitive marketplace, and if they can extract it (here)


for less, they can afford to sell it for less—and if they DON'T, others will. It will come down—it has to!
__________________