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1. 06:42 AM - Re: Oil Find in US - READ THIS -- do not blow it off (David M)
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| Subject: | Re: Oil Find in US - READ THIS -- do not blow it off |
The news that I read said that we now have the technology and know how
to get that Bakken oil out easily. A different source said the oil
company has already been pumping it for nearly 2 years.
I'd really like to sink my teeth into a civilian version of the Osprey
(if it worked.) :)
David
Jon Boede wrote:
> Don't mean to burst your bubble on this, but this keeps popping up every
> few years as a "new" oil find. I was pretty excited about it until I
> did enough research to really understand what's going on.
>
> The quantity is there, unfortunately the quality is not. I don't mean
> the quality of the oil, I mean the quality of the formation which holds
> the oil.
>
> An oil formation basically has two relevant "parameters" that give a
> measure of its quality.
>
> First is the measure how porous the formation is, which is to say how
> much oil is trapped in a given cubic meter.
>
> Second is how easily the oil can be flowed out of that formation, as a
> function of the connectivity of the pores in the formation.
>
> Unfortunately, the Bakken reserve -- while it does hold an IMMENSE
> amount of oil, easily as much as you mention below -- is not very porous
> and has an extremely low flow rate.
>
> It's not like Spindletop, where they just punched a hole in the ground
> and the oil gushed out... think more like a rock sponge that's mostly
> rock; or maybe a better way would be to say that it's "all capillaries
> and no veins". Very difficult to get out.
>
> Several oil companies have demonstration projects that are getting some
> oil out but the cost per barrel is very high. The good news is that the
> size of the reserve effectively caps what we'll ever have to pay for oil
> (non-linear effects of whacky environmental legislation not
> withstanding)... while we may already be "out" of $5/barrel class
> reserves, and we're hit and miss now with $50/barrel class reserves,
> there's no reason for oil to go over $150/barrel because we have an
> almost unlimited supply of *that*.
>
> I'm pretty excited about the REALLY deep water find out in the Gulf.
> Not just because there seems to be Great Whacking Amounts of oil out
> there at "gusher" flow rates, but because it's so far out that it's very
> difficult to service those rigs with "normal" helicopters... even the
> medium-far rigs are a multi-hop deal with refueling stops on the way out
> and back -- helicopters just don't have the speed or the fuel fraction
> to be a practical solution for the DEEP water rigs. Which suggests that
> there's going to be some $erious incentive$ pushing the commercial
> development of a civilian version of the Osprey. Sweet.
>
> Jon
>
> > Date: Thu, 17 Sep 2009 19:04:27 -0500
> > From: ainut@hiwaay.net
> > To:
> > Subject: L29-List: Oil Find in US - READ THIS -- do not blow it off
> >
> >
> > Now you KNOW that the oil company is falsely keeping our gas prices
> > high, high, high. David
> > This is too important not to post and directly affects our engines'
> > operating costs.
> > from the USGS and a mailing list:
> >
> >
> > Hey Guys,
> >
> > Is this for real?
> >
> > This would be a game-changer on a global scale!
> >
> > Doc
> >
> > >
> > >
> > >.Subject: Fw: Huge Oil Find
> > >
> > >AT THE END YOU WILL SEE A LINK WHERE YOU CAN CHECK THIS OUT. JoAnne
> > >
> > >
> > >
> > Amazing!
> >
> > Think of all the people that could have jobs!
> > Also if I may add, about 6 months ago I was watching a news
> > program on oil and one of the Forbes Bros. was the guest. This is
> > out of context, but this is the actual question as asked. 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 ('08) that
> > only scientists and oil men 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 2/3 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.' And 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.
> >
> > 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. In three and a half years of high oil prices none has
> > been extracted. With this motherlode 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 [yeah, right - David] 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/ire up yet? Hope so! Now, while you're thinking
> > about it .... and hopefully P.O'd, do this:
> >
> > 3. Pass this along. If you don't take a little time to do this,
> > then you should stifle yourself the next time you want to complain
> > about GAS PRICES--- because by doing NOTHING, you've forfeited 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
> >
> &========
> >
> >
> >
>
> *
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>
> *
>
>
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