Massive Untapped Oil Fields in North and South Dakota
The USGS is set to release a new report next month that might be able to put a lid on all of this out of control bidding by oil speculators. I’m really hoping that the American public has finally had it with paying those ridiculous prices at the pump and common sense will begin to prevail and coalesce into a unified front against all those damn tree huggers who will inevitably hop into their puke-green eco-vehicles en masse towards the Dakotas to sit in trees, whine, piss, moan, and do all those other ejaculatory things they love to do in an effort to destroy capitalism… (Don’t think that I have forgotten about Alaska, you whiny little SOB’s!)
Since the oil reserves are in located the Dakotas, I couldn’t help but chuckle quietly to myself as I was put in remembrance of the story told by Chief White Halfoat in the novel “Catch-22:”
Chief White Halfoat was out to revenge himself upon the white man. He could barely read or write and had been assigned to Captain Black as assistant intelligence officer.
“How could I learn to read or write?” Chief White Halfoat demanded with simulated belligerence, raising his voice again so that Doc Daneeka would hear. “Every place we pitched our tent, they sank an oil well. Every time they sank a well, they hit oil. And every time they hit oil, they made us pack up our tent and go someplace else. We were human divining rods. Our whole family had a natural affinity for petroleum deposits, and soon every oil company in the world had technicians chasing us around. We were always on the move. It was one hell of a way to bring a child up, I can tell you. I don’t think I ever spent more than a week in one place.”
His earliest memory was of a geologist.
“Every time another White Halfoat was born,” he continued, “the stock market turned bullish. Soon whole drilling crews were following us around with all their equipment just to get the jump on each other. Companies began to merge just so they could cut down on the number of people they had to assign to us. But the crowd in back of us kept growing. We never got a good night’s sleep. When we stopped, they stopped. When we moved, they moved, chuckwagons, bulldozers, derricks, generators. We were a walking business boom, and we began to receive invitations from some of the best hotels just for the amount of business we would drag into town with us. Some of those invitations were mighty generous, but we couldn’t accept any because we were Indians and all the best hotels that were inviting us wouldn’t accept Indians as guests. Racial prejudice is a terrible thing, Yossarian. It really is. It’s a terrible thing to treat a decent, loyal Indian like a nigger, kike, wop, or spic.” Chief White Halfoat nodded slowly with conviction.
“Then, Yossarian, it finally happened – the beginning of the end. They began to follow us around from in front. They would try to guess where we were going to stop next and would begin drilling before we even got there, so we couldn’t even stop. As soon as we’d begin to unroll our blankets, they would kick us off. They had confidence in us. They wouldn’t even wait to strike oil before they kicked us off. We were so tired we almost didn’t care the day our time ran out. One morning we found ourselves completely surrounded by oilmen waiting for us to come their way so they could kick us off. Everywhere you looked there was an oilman on a ridge, waiting there like Indians getting ready to attack. It was the end. We couldn’t stay where we were because we had just been kicked off. And there was no place left for us to go. Only the Army saved me. Luckily, the war broke out just in the nick of time, and a draft board picked me right up out of the middle and put me down safely in Lowery Field, Colorado. I was the only survivor.”
H/T – Warner
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.Explore posts in the same categories: OPEC