Oil News! : AZ IMC

The following article and its associated weblinks sure make you think:
About 6 months 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."
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 (which had not been updated since 1995) on how much oil was
in this area of the western 2/3 of North Dakota , western South Dakota , and eastern Montana .....

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 Gazette.

It's a formation known as the Pittsburgh Post Williston Basin , but is more commonly referred to as the 'Bakken.'
It stretches from Northern 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.
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 the information is 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.
three and a half years of high oil prices none has been extracted.
With this 'mother lode' 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!

And costing lives...

Again, we are letting a small group of people dictate our lives and our economy. 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?

http://www.usgs.gov/newsroom/article.asp?ID=1911

"Because the environmentalists and others have blocked all efforts to help America become independent of foreign oil!
"
this piece has been spattered all over the IMC.
The problem is control of the cracking plants; bought out, shut down and therefore instrumental in providing a choke point for price control.
Then there is the peculiar deal we have with Japan, to ship *all domestic production there, then there is the *speculations involved with fuel / oil futures [ an additional 1$ to each gallon at the pump ] driving prices and let's see... what else, oh there is the new "carbon" futures markets [ just think of it! A brand new avenue for fraud and directives looting! ] to further control pricing...
Oh yeah, blame Earth First!
We *could start by -gasp!- *breaking these monsters up into little pieces* as we Reclaim what was stolen from us...

Unfortunately, I have read some highly contradictory material that clearly states that this news is misleading because of mixing up it's sources and claiming some false facts (although some true facts were claimed as well). The story is very interesting, and ultimately sad (because it's true and I really would like to believe this news which is unfortunately untrue).

Although, anyone who wants to read my link and explain to me an opinion that makes logical sense contrary to what my link says I will be all for it. I of course, like any finacially-struggling-college-student, wish intensely that this was the case!

Here's the link:
http://mediamattersaction.org/emailchecker/200911250001