200billion barrel oil field discovered inside United States

I’m sure the Democrats and Globalists are rushing to lock this down and make it inaccessible.

It may do little. An idea could be to take the loss now, so one could be the supplier later. Most of our oil actually comes from Canada though. The big problem the U.S. has is the lack of gasoline refineries. Montana is already trying to get an infrastructure system to turn coal into gasoline which would be cheaper now than using oil. Montana holds 1/3 of the U.S. coal supply.

Will this matter if we don’t have the capacity to refine it?

Start drilling in ANWAR Now.
Start drilling this new field Now.
Start building refineries Now.
Get rid of the middle grade of refined gasoline that almost nobody uses.

These things would very quickly have positive results on gas prices, inflation, and more.

“Get rid of the middle grade of refined gasoline that almost nobody uses.”

The best tip I’ve seen yet

(of course we need to drill and build refineries, but a little clean up wouldn’t hurt the pumps)

Re: “The taxes taken from a gallon of gas are higher than the profit margin on a gallon of gas. ”

That is interesting, but irrevelant to the fact that the price has increased so dramatically and howit is helping to tank the US economy. (Please note, this comment is NOT assigning “blame”, one way or the other: Just noting that the ratio is not important here.

News Flash: “Endangered Southern Caribou Discovered in North Dakota”

We really should start to drill that Northern Alaska oil before it gets much colder up there are we can’t get it. Better to get at it when we are experiencing warmer climate up there than try when it is under ice and slow all year round.

Robert: We could do that in 20 years and have the development and implementation of a hydrogen energy economy paid for with the taxes and royalties from exploiting ALL current U.S. petroleum reserves.

Or… we could just continue to TALK about energy indepedence and do nothing but continue to funnel trillions to the Arabs and Chavez.

Scott,
Tell me about it on conspiracies. Some people thought Saddam Hussein was going to use non-existent WMDs to bomb the U.S., while others thought Muslims would take over the country and make us all wear burqas.
CRAZIES, huh?

Well, anyway it sounds like even a POS like Cheney agrees with me and Mike’s America.

A little math:

200 Billion barrels translates into about 14286 days at 14 million barrels per day.

Thats about 39 years worth at the current import consumption rate. Add the other 45 Billion from the map (there’s likely more to be found, though) and it adds about another 9 years.

Granted, there are caveats here, some of which have been identified in previous comments:

1) Population growth will increase demand, so it’s difficult to say without some research how that would affect the future supply use rate.
2) Technological advances in internal combustion would attenuate number 1) above somewhat.
3) Increasing refining capacity is a matter of paradigm change and effort. The jobs created would also be a huge positive. Refinement by-products could be reduced by technological advancements.
4) Certain political agreements (such as the aforementioned regular purchases from Canada, etc.) would need to be adjusted or offset. Legal, economic, and political battles will ensue.
5) The liberal forces will do their absolute damndest to block this field in every way. I guarantee that multiple Mother Earth, Eco-centric, tree hugging, socialist, Birkenstock-wearing, tie-dyed agendas will include environment protection rights of both the land area itself and the effects of refinement by-products.

~V~

The Bakken formation is nothing new to the energy industry. Nor are oil and gas new to North Dakota; the Williston Basin in the western part of the state has been producing since 1951.

What is new is the current oil price that enables oil/gas recovery by drilling horizontally through the relatively thin Bakken layers (drill vertically 8-10,000 feet then horizontally a mile or so).

What limits development of the Bakken are shortages of rigs, labor, pipelines, refinery capacity, local infrastructure, etc. And the very real risk that Congress, in its infinite wisdom, will make it unprofitable to extract oil and gas either by taxation or regulation–or both.

To get a clear look at the Bakken activity in Mountrail County, you may want to visit the BakkenBlog website. The site is a storehouse of information encompassing local newspaper articles, state oil and gas permits, the geology, and so on.

E

Similarly, in western Colorado, estimates on recovery from oil shale deposits have varied. From 10-40%. How much oil is present in the shale deposits? That ranges from the amount discovered on Alaska’s north slope and ANWAR combined to the total ME reserve plus 20-30%. In the early 1980s, the technology existed to recover oil from the shale deposits. The pilot project at the time showed the technology and the process works. The two caveats were the cost per ton of shale it would take to extract the oil and the presence of arsenic in shale deposits that would poison the catalysts used in the refining process. Removal of the arsenic from the shale can be dealt with through chemistry and use of filtering technology. With the cost of a barrel of oil around $100, the shale option may be worth revisiting much like the Bakken formation. And, mining shale is much like other hard rock mining … it does not involve strip mining or open pit mining.

Whether we are willing to make the investment and do the work is another question.

Atleast that money will go to creating more jobs etc. Social welfare = Money down the drain!

Not that I care much for liberal Dems like Barack Obama,either.He belongs in the same extremist mental retard category as Rush Limp-brains.I’d rather have either Hillary or a more moderate Republican like McCain for our next Prez than just another extremist cornflake to replace Bush.

As the price of crude ascends, the economic viability of difficult finds like Bakken increases. I worked for Amoco & the Williston refinery was near the Canadian Leominster facility already tapping into the shale.

But those mean environmentalists who run DC [along with Archer Daniels Midland] won’t allow the US to tap into its crude. They used to call Bob Dole the Senator from ADM. All the corn state senators [about 40] are for ethanol, the biggest scam in the history of the USA, something akin to tulipmania in Holland in the 17th c.

WOW, I spent so much time reading all this and all I got is pretty much the same thing I see on C~SPAN or CNN… We need to do this we need to do that but what I do hear is we need to drill and drill ASAP, even is it takes a few years to see any results… What stands in our way… Millionares, Billionares, tree huggers, spotted owl freaks, moose lovers, and any other land and animal lover out there…. When is a human life compare to an animal, when my 1 month old son needed surgery we had to drive over 100 miles to a children’s hospital… That week I drove that trip over ten times and the amount of gas I used was out of sight, what if that gas was MADE IN THE U.S.A. and right in my back yard, maybe a childrens hospital could have been closer, one paid with the profits of oil companies right here in the US… But no no one wants these in MY BACK YARD or YOU WILL RUIN THE ANIMAL LIFE…. Now think of George Bush, either one, where did they get their money or how about 90% of the political people out there, off of oil, they have own oil properties or had oil stock… Oil goes up, they get money, oil goes down they loose money…. Next time we vote, do alittle research on who you choose to send to Washington…. Next time you vote, think about wheres the closest childrens hospital or cancer hospital or even a food bank then think wheres the closest gas station or count how many SHELL stations there are in your city…. The money that could come from these billions apon billions of US oil could lower taxes, lower fuel for heating, lower food prices, could fund new research for cancer, aids or any other illness, could make more jobs with better pay, could preserve land for animals… There is so much that can come from MADE IN THE U.S.A. oil… We as people just need to do our home work when we vote…..