First let me say that I am not a fan of Big Oil. In fact, anyone will tell you that I am on fire about the scurrilous price gouging the American people are feeling from the oil companies. Never the less, one of my cyber buddies relayed an interesting story about an oil field region covering North Dakota and Montana called the "Bakken Formation". Have you heard about it? Neither had I, so of course I did some internet research.
After reading two articles about the Bakken Formation, and searching the corporate pages of the oil companies who hold the leases, my head is about to explode. I must confess I have more questions than the original message raised.
The first article I read at Energy and Capital says that the USGS estimated that this Bakken Formation holds more than 500 billion barrels of oil. Did your jaw just hit the floor? That was no typo - 500 BILLION barrels! If you are a skeptic, as I am, you probably think it couldn’t possibly be true. But my search provided another article from anelnexus.com that confirmed the USGS report. (In the spirit of full disclosure, I have been receiving their email newsletter since last January. The odd thing is if I had actually read the email in May 2008, I would have had at least some inkling about this last spring!)
My next stop was the Department of Energy; Bakken was confirmed on the government site, the National Energy Technology Laboratory report and the funding opportunity. One last reference was rigzone.com from April 2008 noting the minimum from Bakken would be 4.36 billion barrels (published before the computer estimate included the new top secret drilling technology).
So, you have to ask yourself what in the world is going on? Why isn’t Lou Dobbs all over this? (smile) Is it another of this dark administration’s secrets? Its bad enough that neither of the presidential campaigns are saying that Big Oil isn’t even drilling on the 68 million acres they already lease – why isn’t someone screaming from the rafters about the Bakken Formation?
This can’t be good news for Republicans. If the Bakken Formation became well publicized, it would blow their agenda of opening up ANWAR for drilling. And I believe that is the true agenda. Thus all the wringing of hands about how we need to open up the drilling here at home. All the while sitting on an oil field that is several times larger than Saudi Arabia?
Its not good news for Democrats, either. The movement to fast track green technology has become the mantra, stoked by global warming and high gas prices. The Bakken Formation could weaken the growing resolve to wean ourselves off of fossil fuels.
The extent to which our government and the energy companies will conspire against the people is mind-boggling. They are letting the American people lose their homes, they are gouging the people at the gas pumps, and while trampling our Constitution they are making records profits every quarter.
So what do we do? Letter campaign? My Congressman gets an email from me at least once per week urging him to sign on to the Articles of Impeachment. He can take his pick – George W. Bush or Richard B. Cheney. I get the exact same response every single time, which tell me he has closed his mind to the process – and his duty. (sigh)
So what do we do? How do we get the word out? I think I’ll send this information to Keith Olbermann…and maybe Lou Dobbs.
2 comments:
Yes sherron-4truth we should let Lou Dobbs, Keith Olberman and Bill Moyers know about this. Although I think perhaps now that Obama has said he would discuss a combination of new drilling as well as solar, wind and other forms of green energy just perhaps he now knows about this. We have been hearing about all the land leases that the oil companies already own and haven't drilled on, but this is ridiculous. I just can't imagine why they want to drill at ANWAR so badly. What is their motive? Beats me.
Hey guys, as a former OCAW,( Oil, Chemical & atomic Worker), I can shed some light on this subject. The bottom line is that "Big Oil" knows that their days are numbered. They only have four more Months to grab all of the "LAND" they can and get it under lease. They have no intention of Drilling as long as they can ship it over here from other Countries and add thier profits on top of their cost and stick it to the American People. They also know that is about to come to an end and they are going to have to start earning their money.
The main problem however is not a lack of Crude Oil, its Refineing capasity. Big oil carefully controles the amount of Refineing capasity, so that they can controle the price of the finished products. When supply starts to catch up to demand, they shut a Refinery down for "Maintenance", long enough for demand to catch back up. You will notice this primarialy in the Winter, when demand is the lowest.
In addition to the Field that you mentioned, they just recently discovered a Natural Gas field in N.W. Louisiana/East Texas with so much Natural Gas under it that people with as little as 10 acers are becoming multi Millionairs over night. Natural Gas doesn't have to be refined, it's good to go right out of the ground.
So all this talk you hear about off shore Drilling is Hog Wash and nothing but a "Land Grab" before they loose thier "PUPPET" in the White House.........
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