Did You Know The US has VAST Oil Reserves eclipsing the Saudi Reserve?
This week I came across this article in a NY Times blog post called DotEarth :
To meet the Obama administration’s targets for cutting greenhouse gas emissions, some researchers say, Americans may have to experience a sobering reality: gas at $7 a gallon.
To reduce carbon dioxide emissions in the transportation sector 14 percent from 2005 levels by 2020, the cost of driving would simply have to increase, according to a report released Thursday by researchers at Harvard’s Belfer Center for Science and International Affairs. The research also appears in the March edition of the journal Energy Policy.
The 14 percent target was set in the Environmental Protection Agency’s budget for fiscal 2010.
In their study, the researchers devised several combinations of steps that United States policymakers might take in trying to address the heat-trapping emissions by the nation’s transportation sector, which consumes 70 percent of the oil used in the United States.
Most of their models assumed an economy-wide carbon dioxide tax starting at $30 a ton in 2010 and escalating to $60 a ton in 2030. In some cases researchers also factored in tax credits for electric and hybrid vehicles, taxes on fuel or both.
In the modeling, it turned out that issuing tax credits could backfire, while taxes on fuel proved beneficial.
“Tax credits don’t address how much people use their cars,” said Ross Morrow, one of the report’s authors. “In reverse, they can make people drive more.”
Then I remembered getting this in my email recently: Some time ago, the writer was watching a news program on oil and one of the Forbes brothers. 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 Bakker’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 mother-load 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 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..
Verifiable Here: Http://WWW.usgs.gov/newsroom/article.asp?ID=1911
FOR MORE ON THIS TOPIC, read Green Hell by Steve Milloy
Also in my email recently, I recieved the following interesting very short video that puts our government’s spending in perspective, and in my mind highlights the audacity of dopes.