US Oil Discovery big enough to fuel the US Economy for 41 yrs straight

2008-06-05 08:33:38

#1

Pug: UR father's brother's nephew's former roommate; +652|7019|Texas - Bigger than France

I know this has been covered a bit.
But I think it merits a "HOLY SHIT HAVE YOU SEEN THIS!!!!" Thread.

200 Billion Barrels of Oil estimated. Possibly up to 503 Billion barrels. Alaska's Artic Reserves are 16 Billion. The total reserves in Saudia Arabia are 1050 billion barrels.

Think about that - one field (not all of them) with 20% of all of Saudi Arabia, or up to 1/2. This isn't shale either - its drill and suck = not expensive to get to market.

What's this mean for us? Energy independence from the middle east? Competing to export with OPEC? Joining OPEC?

What's going to happen in the geopolitcal arena?

Some links:
"Bakken: The Biggest Oil Discovery in US History"
http://www.marketwire.com/mw/release.do?id=843988

"That's enough crude to fully fuel the American economy for 41 years straight" "$16 per barrel"
http://www.freerepublic.com/focus/f-news/2016631/posts

Can I get a "Holy crap"?

2008-06-05 08:35:04

#2

SEREVENT: MASSIVE G STAR; +605|6584|Birmingham, UK

No. We cant do this. Save the oil.

EDIT:- No way would America join OPEC. I think they would compete against them.

EDIT 2:- CP, it does seem too good to be true if you think about it... oil prices a new high, oil reserves running out...

Tbh either fake, or if real a Godsend.

Last edited by SEREVENT (2008-06-05 08:37:00)

2008-06-05 08:35:31

#3

CameronPoe: Member; +2,925|7032

Propaganda to thwart the speculators? Sounds too good to be true.

Oddly hasn't been covered by the mainstream press - Fox, CNN, BBC...

Last edited by CameronPoe (2008-06-05 08:37:30)

2008-06-05 08:39:07

#4

SEREMAKER: BABYMAKIN EXPERT √; +2,187|7045|Mountains of NC

I'm off to South Dakota .................... whos with me

https://www.colorado-video.com/observerapps_files/oil-rig.jpg

I wonder how much red tape and bull shit we're going to have to go through to anything physically started in S. Dakota

https://static.bf2s.com/files/user/17445/carhartt.jpg

2008-06-05 08:40:30

#5

SEREVENT: MASSIVE G STAR; +605|6584|Birmingham, UK

CameronPoe wrote:
Propaganda to thwart the speculators? Sounds too good to be true.

Oddly hasn't been covered by the mainstream press - Fox, CNN, BBC...

Probably is fake then.

Ah well, nice thought while it lasted...

2008-06-05 08:40:55

#6

OrangeHound: Busy doing highfalutin adminy stuff ...; +1,335|7126|Washington DC

Pug wrote:
I know this has been covered a bit.
But I think it merits a "HOLY SHIT HAVE YOU SEEN THIS!!!!" Thread.

200 Billion Barrels of Oil estimated. Possibly up to 503 Billion barrels. Alaska's Artic Reserves are 16 Billion. The total reserves in Saudia Arabia are 1050 billion barrels.

Think about that - one field (not all of them) with 20% of all of Saudi Arabia, or up to 1/2. This isn't shale either - its drill and suck = not expensive to get to market.

Yet, you are missing a KEY issue. How will it get from those oil fields to the US? The Alaska pipeline can only transport 1 Million barrels a day ... and the US consumes about 21-23 Million barrels of oil per day. So, we can only transport just 5% of the US consumption with current systems. So, this is hardly a bonanza.

2008-06-05 08:41:41

#7

SEREVENT: MASSIVE G STAR; +605|6584|Birmingham, UK

OrangeHound wrote:
Pug wrote:
I know this has been covered a bit.
But I think it merits a "HOLY SHIT HAVE YOU SEEN THIS!!!!" Thread.

200 Billion Barrels of Oil estimated. Possibly up to 503 Billion barrels. Alaska's Artic Reserves are 16 Billion. The total reserves in Saudia Arabia are 1050 billion barrels.

Think about that - one field (not all of them) with 20% of all of Saudi Arabia, or up to 1/2. This isn't shale either - its drill and suck = not expensive to get to market.
Yet, you are missing a KEY issue. How will it get from those oil fields to the US? The Alaska pipeline can only transport 1 Million barrels a day ... and the US consumes about 21-23 Million barrels of oil per day. So, we can only transport just 5% of the US consumption with current systems. So, this is hardly a bonanza.

Build a new pipeline(s)?

2008-06-05 08:47:41

#8

OrangeHound: Busy doing highfalutin adminy stuff ...; +1,335|7126|Washington DC

SEREVENT wrote:
OrangeHound wrote:
Pug wrote:
I know this has been covered a bit.
But I think it merits a "HOLY SHIT HAVE YOU SEEN THIS!!!!" Thread.

200 Billion Barrels of Oil estimated. Possibly up to 503 Billion barrels. Alaska's Artic Reserves are 16 Billion. The total reserves in Saudia Arabia are 1050 billion barrels.

Think about that - one field (not all of them) with 20% of all of Saudi Arabia, or up to 1/2. This isn't shale either - its drill and suck = not expensive to get to market.
Yet, you are missing a KEY issue. How will it get from those oil fields to the US? The Alaska pipeline can only transport 1 Million barrels a day ... and the US consumes about 21-23 Million barrels of oil per day. So, we can only transport just 5% of the US consumption with current systems. So, this is hardly a bonanza.
Build a new pipeline(s)?

Do some research on the political issues faced with the first pipeline ... that was 25-35 years ago, and the environmentalists are about 50 times more powerful these days.

2008-06-05 08:50:53

#9

S.Lythberg: Mastermind; +429|6924|Chicago, IL

OrangeHound wrote:
SEREVENT wrote:
OrangeHound wrote:

Yet, you are missing a KEY issue. How will it get from those oil fields to the US? The Alaska pipeline can only transport 1 Million barrels a day ... and the US consumes about 21-23 Million barrels of oil per day. So, we can only transport just 5% of the US consumption with current systems. So, this is hardly a bonanza.
Build a new pipeline(s)?
Do some research on the political issues faced with the first pipeline ... that was 25-35 years ago, and the environmentalists are about 50 times more powerful these days.

it takes a while to walk to demonstrations...

protesters need gas too

2008-06-05 08:51:23

#10

Kmar: Truth is my Bitch; +5,695|7078|132 and Bush

All reserve my enthusiasm for a better source.
We know these "Texas Tea" claims are sometimes bogus.

Xbone Stormsurgezz

2008-06-05 08:54:42

#11

OrangeHound: Busy doing highfalutin adminy stuff ...; +1,335|7126|Washington DC

S.Lythberg wrote:
OrangeHound wrote:
SEREVENT wrote:
Build a new pipeline(s)?
Do some research on the political issues faced with the first pipeline ... that was 25-35 years ago, and the environmentalists are about 50 times more powerful these days.
it takes a while to walk to demonstrations...

protesters need gas too

Perhaps, but even if we were to start the process today, I would guess it will be 6-10 years before a pipeline could be finished ... and, by that time gas will be $12 a gallon, we'll all be driving electric powered golf-carts, and it won't be needed anyway.

2008-06-05 08:55:33

#12

Pug: UR father's brother's nephew's former roommate; +652|7019|Texas - Bigger than France

The report:
http://www.usgs.gov/newsroom/article.asp?ID=1911

Some history on Bakken:
http://westhawk.blogspot.com/2008/06/ba … ional.html

2008-06-05 09:03:52

#13

Pug: UR father's brother's nephew's former roommate; +652|7019|Texas - Bigger than France

OrangeHound wrote:
SEREVENT wrote:
OrangeHound wrote:

Yet, you are missing a KEY issue. How will it get from those oil fields to the US? The Alaska pipeline can only transport 1 Million barrels a day ... and the US consumes about 21-23 Million barrels of oil per day. So, we can only transport just 5% of the US consumption with current systems. So, this is hardly a bonanza.
Build a new pipeline(s)?
Do some research on the political issues faced with the first pipeline ... that was 25-35 years ago, and the environmentalists are about 50 times more powerful these days.

Why pipe it anywhere?

http://forums.bf2s.com/viewtopic.php?id=102530

2008-06-05 09:16:32

#14

Kmar: Truth is my Bitch; +5,695|7078|132 and Bush

Dakota Oil Fields of Saudi-Sized Reserves Make Farmers Drillers

Petrostar Petroleum Corporation: Letter of Intent Signed to Develop Bakken Oil Play in SE Saskatchewan

Texas companies agree on $1 billion Bakken deal
Expected to close by July 15.

Xbone Stormsurgezz

2008-06-05 09:24:10

#15

Mekstizzle: WALKER; +3,611|7098|London, England

OHound makes a point, the US doesn't have the infrastructure to become self sufficient on oil. It's all heavily based on importing and shit. And the environmentalists wouldn't allow it for quite alot of reasons.

The US has missed the boat on this. They should've done this during WW2 or during the 70's oil crisis or someshit. It's too late for that now. Unless things get REALLY desperate and the US refuses to change its habits. Then they'll turn Alaska into a giant industrial oil.....thing

2008-06-05 09:29:35

#16

Pug: UR father's brother's nephew's former roommate; +652|7019|Texas - Bigger than France

SEREVENT wrote:
CameronPoe wrote:
Propaganda to thwart the speculators? Sounds too good to be true.

Oddly hasn't been covered by the mainstream press - Fox, CNN, BBC...
Probably is fake then.

Ah well, nice thought while it lasted...

Well, I'm beginning to feel good about it. I originally saw the article in April, and was skeptical. There's 3.5 Bbbl proven, but the USGS admitted they have ignored the area, and the data is poor....because they thought it was mostly shale. But when EOG finds 15x to 20x more then they thought (see Kmarion's first post) I think there's going to be more interest in the area.

So everyone is skeptical so far. But when the USGS says they are going to sink more wells to confirm....maybe it's possible. I'm beginning to think it is - why? EOG has a office in town - when I asked an executive I know in the office about this...he just smiled and said he had to go. I think they are trying to keep the lid on it to secure more drilling rights.

2008-06-05 09:31:26

#17

S.Lythberg: Mastermind; +429|6924|Chicago, IL

Pug wrote:
SEREVENT wrote:
CameronPoe wrote:
Propaganda to thwart the speculators? Sounds too good to be true.

Oddly hasn't been covered by the mainstream press - Fox, CNN, BBC...
Probably is fake then.

Ah well, nice thought while it lasted...
Well, I'm beginning to feel good about it. I originally saw the article in April, and was skeptical. There's 3.5 Bbbl proven, but the USGS admitted they have ignored the area, and the data is poor....because they thought it was mostly shale. But when EOG finds 15x to 20x more then they thought (see Kmarion's first post) I think there's going to be more interest in the area.

So everyone is skeptical so far. But when the USGS says they are going to sink more wells to confirm....maybe it's possible. I'm beginning to think it is - why? EOG has a office in town - when I asked an executive I know in the office about this...he just smiled and said he had to go. I think they are trying to keep the lid on it to secure more drilling rights.

they want to lay down as many wells and pipes as possible before word gets out and the greennoobs come flocking

2008-06-05 09:33:11

#18

Kmar: Truth is my Bitch; +5,695|7078|132 and Bush

Mek-Stizzle wrote:
OHound makes a point, the US doesn't have the infrastructure to become self sufficient on oil. It's all heavily based on importing and shit. And the environmentalists wouldn't allow it for quite alot of reasons.

The US has missed the boat on this. They should've done this during WW2 or during the 70's oil crisis or someshit. It's too late for that now. Unless things get REALLY desperate and the US refuses to change its habits. Then they'll turn Alaska into a giant industrial oil.....thing

I think there is a degree of underestimating here (Americans are quite used to that tbh). Especially when there's a great deal of money to be made.

Xbone Stormsurgezz

2008-06-05 09:34:53

#19

Pug: UR father's brother's nephew's former roommate; +652|7019|Texas - Bigger than France

S.Lythberg wrote:
they want to lay down as many wells and pipes as possible before word gets out and the greennoobs come flocking

No, incorrect. There's plenty of notice for the greennoobs. It's competition from other oil companies IMHO

2008-06-05 09:37:55

#20

Switch: Knee Deep In Clunge; +489|6940|Tyne & Wear, England

We're preparing for a world without oil.

Somewhere, something incredible is waiting to be known.

2008-06-05 09:38:19

#21

Pug: UR father's brother's nephew's former roommate; +652|7019|Texas - Bigger than France

I know ya'll may be wondering "why hasn't this already been found if its sooo big?"

-Shale oil is expensive to produce
-Bakken was thought to be mostly shale, and therefore relatively ignored
-The rise in oil prices caused more people to be interested

2008-06-05 09:38:35

#22

S.Lythberg: Mastermind; +429|6924|Chicago, IL

Pug wrote:
S.Lythberg wrote:
they want to lay down as many wells and pipes as possible before word gets out and the greennoobs come flocking
No, incorrect. There's plenty of notice for the greennoobs. It's competition from other oil companies IMHO

no environmental impact survey has been done, they want to get started before that happens (and stop other companies from speculation in the area)

2008-06-05 09:46:15

#23

konfusion: mostly afk; +480|7027|CH/BR - in UK

Either way, oil will run out, so why not invest more in research for alternative fuel sources? I've seen a video where a guy made fuel out of salt water. This is the kind of stuff we need to be focusing on, instead of grasping at the hope of being able to continue the comfortable lifestyle we have now.

-konfusion

2008-06-05 09:49:46

#24

teek22: Add "teek22" on your PS3 fools!; +133|6858|Bromley, London

The world seems not be taking it seriously that oil WILL run out.

Also I think America will save their oil until it has run out everywhere else. Then and only then will they start using their own supplies.

2008-06-05 09:50:35

#25

S.Lythberg: Mastermind; +429|6924|Chicago, IL

konfusion wrote:
Either way, oil will run out, so why not invest more in research for alternative fuel sources? I've seen a video where a guy made fuel out of salt water. This is the kind of stuff we need to be focusing on, instead of grasping at the hope of being able to continue the comfortable lifestyle we have now.

-konfusion

it takes more energy to dissociate water than you get from burning the resulting gases

BF2S Forums US Oil Discovery big enough to fuel the US Economy for 41 yrs straight

CameronPoe wrote:

Pug wrote:

OrangeHound wrote:

Pug wrote:

SEREVENT wrote:

OrangeHound wrote:

Pug wrote:

OrangeHound wrote:

SEREVENT wrote:

OrangeHound wrote:

S.Lythberg wrote:

OrangeHound wrote:

SEREVENT wrote:

OrangeHound wrote:

SEREVENT wrote:

OrangeHound wrote:

SEREVENT wrote:

CameronPoe wrote:

Pug wrote:

SEREVENT wrote:

CameronPoe wrote:

Mek-Stizzle wrote:

S.Lythberg wrote:

Pug wrote:

S.Lythberg wrote:

konfusion wrote:

Board footer