Large Oil Deposits Found In Montana-Truth!
Large Oil Deposits Found In Montana-Truth!
Summary of eRumor:
Summary of eRumor:A U.S. Geological Survey report that tells about a large domestic oil discovery hidden beneath the Rocky Mountains.
The US Geological Survey report is real and was released in 2008. Click for report. The Truth:
There is oil up in those hills and it has been known about for years, but it is oil shale, a natural resource that contains a material called kerogen. Kerogen is used to produce kerosene and is high in hydrocarbons, the substance that is naturally found in crude oil.
Marathon Oil Corporation has been drilling in the area and said on their web site that the North Dakota Bakken Shale oil play has been the company's "centerpiece unconventional resource and will be a top priority for its North America capital investment program in coming years." Marathon also said that so far, net Bakken production has well exceeded expectations resulting in 9.6 thousand barrels of oil equivalents per day (MBOEPD) in 2009, and increase from 5.8 MBOEPD in 2008. The company first began drilling in the Marcellus Shale located in Pennsylvania and West Virginia.
Shale oil was considered as an alternative fuel source during the Jimmy Carter era when America experienced a gas crunch in the 1970's. Additional refining processes are required to extract fuel from shale oil, which could result in cost increases at the pump.
There are also other major oil companies, including Shell and Chevron, who are also working on solutions to supply fuel from oil shale deposits and other alternative fuel sources throughout the U.S.
A real example of the eRumor as it has appeared on the Internet:
OIL – you better sit down.
Here’s an interesting 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 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 – 4/20/2006
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
– 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