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Posts Tagged ‘bakken formation’

     

As the oil spews, the conspiracy and bull$hit is rising to the top.     

BP said its spent $300 million on the Gulf of Mexico oil spill response effort in the past three days, hitting the $100 million-per-day spend rate for the first time and bringing its total bill to $2.65 billion so far. via Reuters http://news.cnet.com/8301-11128_3-20008984-54.html?part=rss&subj=news&tag=2547-1_3-0-20.  BP is about as transparent as the Obama administration.     

The Treasury Department’s pay czar overseeing executive pay at firms that received government bailouts, including three-Michigan based automakers and finance companies, will step down this summer, the department said Wednesday.  Kenneth Feinberg, the special master overseeing executive pay for the top 100 paid executives at General Motors Co., Chrysler Group LLC, Ally Financial Inc. and AIG, was named to oversee the $20 billion BP fund to compensate victims of the Gulf of Mexico oil spill. He will focus on that job full-time after he leaves his current role.  From The Detroit News: http://www.detnews.com/article/20100623/AUTO01/6230443/1361/Official-overseeing-GM–Chrysler-executive-pay-to-step-down#ixzz0sA7eKuTU     

Special master and Czar Feinberg, approved $9 million in compensation for GM chairman and CEO Edward Whitacre, Jr. , including $1.7 million in cash.  I highly doubt we’ll be seeing such sizable checks coming from BP.      

He gave an interview with Neil Cavuto saying:     

FEINBERG: I’m working independently. Both the Obama administration and BP decided together that I should create an independent claims facility. The entire cost of the facility — the entire costs associated with me, my staff, are funded entirely by BP. http://www.foxnews.com/story/0,2933,595089,00.html     

I wonder what BP is paying him?    Just how is it independent when he is still getting a check on our tax dollars and one from BP, I presume?

 The blog the Twelfth Bough  http://twelfthbough.blogspot.com/2010/06/justifying-corexit.html reviews a lot of evidence that points toward a giant conspiracy,,,     

…the theory that this spill is a manufactured event designed to pollute the environment with Corexit, in order to cause a population die-off of “undesirables” around the Gulf, on the coasts of Texas, Louisiana and Florida.     

…Instead of thinking of it as Illuminati, think Sabbatean. The elements that ties things together include 1) secrecy and lying about identities, 2) an occult, mystical philosophy guided by the Talmud, the Cabala, and the Zohar, 3) the desire for revenge, control and power, and 4) the use of sacrifices, holocausts and scapegoats     

…Gulf blowout as a staged act just like the moon landings from 1969 to 1972…is that the blowout must involve asphalt, not crude oil, because asphalt, in the form of tar balls, is washing up on beaches. But spilled crude quickly evaporates and leaves behind its heavy fraction, and voilà, you have asphalt. This always happens when crude oil is spilled in the sea.     

 

Federal land grab by A. HUNTER for The Washington Times.

What is not a conspiracy is that the United States has enough oil on it’s own soil that BP and other drilling companies do not need to be drilling in the oceans in the first place.      

“USGS provides science for a changing world.”  How that for a slogan?  They also provided data in 2008 on just how much oil is in them there hills in this report from 2008. http://www.usgs.gov/newsroom/article.asp?ID=1911     

Reston, VA – North Dakota and Montana have an estimated 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in an area known as the Bakken Formation.   A U.S. Geological Survey assessment, released April 10, shows a 25-fold increase in the amount of oil that can be recovered compared to the agency’s 1995 estimate of 151 million barrels of oil.     

Technically recoverable oil resources are those producible using currently available technology and industry practices. USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources.     

New geologic models applied to the Bakken Formation, advances in drilling and production technologies, and recent oil discoveries have resulted in these substantially larger technically recoverable oil volumes. About 105 million barrels of oil were produced from the Bakken Formation by the end of 2007.     

The USGS Bakken study was undertaken as part of a nationwide project assessing domestic petroleum basins using standardized methodology and protocol as required by the Energy Policy and Conservation Act of 2000.     

The Bakken Formation estimate is larger than all other current USGS oil assessments of the lower 48 states and is the largest “continuous” oil accumulation ever assessed by the USGS. A “continuous” oil accumulation means that the oil resource is dispersed throughout a geologic formation rather than existing as discrete, localized occurrences. The next largest “continuous” oil accumulation in the U.S. is in the Austin Chalk of Texas and Louisiana, with an undiscovered estimate of 1.0 billions of barrels of technically recoverable oil.     

“It is clear that the Bakken formation contains a significant amount of oil – the question is how much of that oil is recoverable using today’s technology?” said Senator Byron Dorgan, of North Dakota. “To get an answer to this important question, I requested that the U.S. Geological Survey complete this study, which will provide an up-to-date estimate on the amount of technically recoverable oil resources in the Bakken Shale formation.”     

The USGS estimate of 3.0 to 4.3 billion barrels of technically recoverable oil has a mean value of 3.65 billion barrels. Scientists conducted detailed studies in stratigraphy and structural geology and the modeling of petroleum geochemistry. They also combined their findings with historical exploration and production analyses to determine the undiscovered, technically recoverable oil estimates.     

USGS worked with the North Dakota Geological Survey, a number of petroleum industry companies and independents, universities and other experts to develop a geological understanding of the Bakken Formation. These groups provided critical information and feedback on geological and engineering concepts important to building the geologic and production models used in the assessment.     

Five continuous assessment units (AU) were identified and assessed in the Bakken Formation of North Dakota and Montana – the Elm Coulee-Billings Nose AU, the Central Basin-Poplar Dome AU, the Nesson-Little Knife Structural AU, the Eastern Expulsion Threshold AU, and the Northwest Expulsion Threshold AU.     

At the time of the assessment, a limited number of wells have produced oil from three of the assessments units in Central Basin-Poplar Dome, Eastern Expulsion Threshold, and Northwest Expulsion Threshold.

The Elm Coulee oil field in Montana, discovered in 2000, has produced about 65 million barrels of the 105 million barrels of oil recovered from the Bakken Formation. Results of the assessment can be found at http://energy.usgs.gov.     

From a recent email on the issue:     

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 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.  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 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..
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? (end of email)
 
The government currently owns 650 million acres, or 29 percent of the nation’s total land. With a swoop of his pen, President Obama added another 10 million or so acres on March 30, 2009, in his land grab act, nicely reported here- http://www.washingtontimes.com/news/2010/mar/2/white-house-land-grab/ Officially, called the Omnibus Public Land Management Act of 2009, it is just the beginning. Under the guise of a bunny hugger plot and conservation objectives, the government is taking land and the rabbits with it.  “What magicians you have elected,” we wrote in this post at https://ahrcanum.wordpress.com/2009/03/30/the-land-grab-omnibus-bill/ 
 

A New National Landscape Agenda?

As if things aren’t bad enough Tropical Storm Alex is about to change the landscape in a major way. “Some strengthening is forecast during the next couple of days and Alex is expected to become a hurricane on Tuesday,” the U.S. National Hurricane Center said on its latest update.  Luckily it is expected to veer towards  Brownsville, Texas, mostly sparing BP’s efforts south of Louisiana.Texas.  The only thing that has stayed on course that I know of, is the continued blame by President Obama on President Bush. 
 

“The Official Site of The Deepwater Horizon Unified Command”, http://www.deepwaterhorizonresponse.com/go/site/2931/  is Headquarters for information. http://twitter.com/Oil_Spill_2010

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