Tag Archives: natural gas

The United States Has Plenty Of Oil: 10 Facts About America’s Energy Resources That Will Blow Your Mind

The United States Has Plenty Of Oil: 10 Facts About America’s Energy Resources That Will Blow Your Mind

The United States is not running out of oil. In fact, nobody on the entire globe has more energy resources than the United States does. The truth is that we are absolutely swimming in oil and natural gas and we have so much coal that we have no idea what to do with it all. At current consumption rates, America has enough energy resources to completely satisfy all of its needs well into the 22nd century. If we would just access those resources, we would not have to import a single drop of foreign oil. But most Americans don’t realize that we have plenty of oil. In fact, our education system has brainwashed most Americans into believing that our energy resources are rapidly being depleted and that we will soon enter a great energy crisis. We are all constantly told that we must transition to “green energy” before it is too late. But the reality is that America is an energy rich nation and new discoveries of oil and natural gas deposits are being made all the time. Shouldn’t someone tell the American people the truth about these things?

Sadly, Barack Obama keeps running around the country declaring that there is no way that the United States can supply itself with enough oil. During one speech a while back, Obama made the following statement….

“With only 2% of the world’s oil reserves, we can’t just drill our way to lower gas prices”

The funny thing is that what Obama said sounds very similar to something that Jimmy Carter said back in 1977….

“Unless profound changes are made to lower oil consumption, we now believe that early in the 1980s the world will be demanding more oil than it can produce”.

How did that prediction work out for Jimmy Carter?

Not too well.

The truth is that Obama is misleading the American people just like Jimmy Carter did. A recent Investor’s Business Daily article explained how Obama is twisting the truth….

But the figure Obama uses — proved oil reserves — vastly undercounts how much oil the U.S. actually contains. In fact, far from being oil-poor, the country is awash in vast quantities — enough to meet all the country’s oil needs for hundreds of years.

At current consumption rates, the United States has enough oil to last into the 23rd century without ever importing a single drop of oil from another country.

But only a very small fraction of the American people know this.

So when are we going to start hearing the truth?

The following are 10 facts about America’s energy resources that will blow your mind….

#1 Back in 1995, the U.S. Geological Survey told the American people that the Bakken Shale formation in western North Dakota and eastern Montana only held 151 million barrels of oil. Today, government officials are admitting that it holds 4.3 billion barrels of recoverable oil, and some analysts believe that the actual number could be closer to 20 billion barrels of oil.

#2 It is estimated that there are up to 19 billion barrels of recoverable oil deposits in the tar sands of Utah.

#3 It is estimated that there are at least 86 billion barrels of recoverable oil deposits in the Outer Continental Shelf.

#4 It is believed that there are 800 billion barrels of recoverable oil deposits in the Green River formation in Wyoming.

#5 Overall, the United States is sitting on approximately 1.442 trillion barrels of recoverable oil deposits.

#6 According to the Institute of Energy Research, the United States has a 120 year supply of natural gas.

#7 According to the Institute of Energy Research, the United States has a 200 year supply of oil.

#8 According to the Institute of Energy Research, the United States has a 464 year supply of coal.

#9 According to Pastor Lindsey Williams, absolutely gigantic oil fields have been discovered up in Alaska that the American public is not being told about.

#10 Goldman Sachs is predicting that the United States will be the number one oil producing country in the world by the year 2017.

But you never hear any of these statistics from Barack Obama, do you?

And some of our oil fields that were thought to be “depleted” are actually filling back up with oil. Many scientists are extremely puzzled by this. The following quote is from a 1999 Wall Street Journal article….

Production at the oil field, deep in the Gulf of Mexico off the coast of Louisiana, was supposed to have declined years ago. And for a while, it behaved like any normal field: Following its 1973 discovery, Eugene Island 330’s output peaked at about 15,000 barrels a day. By 1989, production had slowed to about 4,000 barrels a day.

Then suddenly—some say almost inexplicably—Eugene Island’s fortunes reversed. The field, operated by PennzEnergy Co., is now producing 13,000 barrels a day, and probable reserves have rocketed to more than 400 million barrels from 60 million. Stranger still, scientists studying the field say the crude coming out of the pipe is of a geological age quite different from the oil that gushed 10 years ago.

The truth is that there is still much about the formation of oil that is a great mystery to our scientists.

Unfortunately, much of the information that you have read above is being repressed because it would be very damaging to the “green agenda” that the global elite are trying to impose on all of us.

As I wrote about yesterday, a “green economy” is absolutely central to the “sustainable development” agenda that the United Nations is promoting.

The elitists at the UN believe that carbon dioxide is evil and that it is going to cause catastrophic climate change.

But the truth is that we have always had “climate change” and even if you eliminated all forms of human activity it would only reduce carbon dioxide levels on our planet by a marginal amount.

And carbon dioxide is not a pollutant. Every plant on earth uses carbon dioxide. In the past, our planet actually had much higher levels of carbon dioxide. When there are high levels of carbon dioxide in the atmosphere, plant life thrives and more food can be grown.

So if you want the earth to be more “green”, then you should actually want levels of carbon dioxide to be even higher.

Unfortunately, this kind of logic evades the “true believers”.

Folks like Al Gore run around the planet declaring that global warming is going to bring an end to life as we know it if something is not done immediately.

Well, you know what?

The climate on earth is going to change and nothing can stop it. It has always changed and it always will change.

The primary cause of climate change is the gigantic ball of fire that our planet is revolving around. You could fit 1.3 million earths inside the sun. When there is a lot of solar activity the earth tends to get warmer, and when there is not a lot of solar activity the earth tends to get cooler.

The sun has been behaving very strangely in recent years. If this continues (or gets even worse) we are going to see some very bizarre weather patterns in the years ahead.

And there is not a thing we can do about it other than pray.

But Obama is going to continue to repress energy production in the United States and try to push us toward his vision of a “green society”.

Unfortunately, much of what he is trying to do is extremely damaging to our economy. This was beautifully demonstrated in a recent YouTube video entitled “If I Wanted America To Fail”….

So does this mean that alternative energy is bad?

Of course not.

At the same time that we work to exploit the vast deposits of oil, natural gas and coal under our feet, we should also seek to develop cutting edge alternative energy technologies.

For example, most Americans have never even heard of thorium, but many scientists believe that it could provide nearly endless amounts of very safe, very cheap and very clean energy for future generations.

America is not going to run out of energy. America has more energy resources that anyone else in the world and our nation is also one of the leaders in developing cutting edge alternative energy technologies.

This country has a lot of problems, but a lack of energy is not going to be one of them unless our politicians get in the way.

So what do you think about all of this? Please feel free to post a comment with your thoughts below….

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Oil and the Falklands – the Saga Continues


Oil and the Falklands – the Saga Continues

Written by John Daly

Like some dimly remembered Gilbert and Sullivan operetta, pitting Hardy British tars against perfidious foreigners, the Falklands periodically recycles into the gaze of bemused international observers every decade or so.

Since the brief 1982 war between Argentina and Britain, the issue of sovereignty of the Falklands has lurked beneath the internationals diplomatic surface, an irritant but hardly threatening to reignite a new round of hostilities. Three decades on from that unfortunate confrontation the issue of the Falklands is again roiling Argentinean-British relations over the possibility that the archipelago contains beneath its surrounding waters something of value – oil.

British oil group Rockhopper Exploration has unveiled optimistic plans for a $2 billion oil infrastructure investment in the Falkland Islands announcing on 14 September that it expected to start pumping oil in 2016 from its four licensed Sea Lion concessions totaling 1,500 square miles, with a projected production rate of roughly 120,000 barrels of oil per day by 2018. Rockhopper Exploration said the fifth well in the Sea Lion complex “had found a high quality reservoir package and oil column.”

This roseate picture is somewhat clouded by several facts, including that currently Rockhopper Exploration has on hand a mere $170 million, enough to pay for two more scheduled wells. Nevertheless, Rockhopper Exploration shares, which have outperformed the European index of oil and gas companies by 14 percent since August, were up 1.1 percent in early trading after the company’s announcement.

A second element in this picture is a sobering fact that while both British and Argentinean companies have drilled a handful of exploratory wells in the water surrounding the Falklands, only Rockhopper Exploration has discovered petroleum.

And thirdly last but certainly not least is the issue of the islands sovereignty, contested by both Argentina and Britain for the last 198 years.

While various City pundits excitedly speculate that the Falklands is to become another North Sea, the above facts taken together indicates at the very least a far greater degree of risk in underwriting Rockhopper Exploration’s ambitious program.

So if the Falklands oil potential is so promising, then why are the international major oil companies not involved? The answer is in brief that they have looked at the islands’ potential and given a pass.

According to a US embassy cable dating from February 2010 and leaked last year by Wikileaks, “ExxonMobil International chairman Brad Corson told us he does not believe there is enough oil on the Falkland Islands continental shelf to be profitable, citing Shell’s earlier oil exploration attempts which they abandoned.”

Argentina is not taking the news lightly, declaring its intention following Rockhopper Exploration’s to both file an official complaint against Britain for oil exploration activities in Falklands/Malvinas disputed waters before the United Nations Decolonization Committee along with inviting the U.N. Special Committee of the 24 on Decolonization Chairman Francisco Carrion-Mena of Ecuador to visit Argentina to hold a meeting on the issue in Buenos Aires.

The Falklands now have the dubious distinction of joining the list of contested offshore maritime oil and natural gas concessions spewed by two or more countries.

These include a growing dispute in the eastern Mediterranean between Cyprus, Lebanon, Israel and Turkey, the final disposition of the Caspian’s offshore waters currently contested by Azerbaijan, Kazakhstan, Iran, Turkmenistan Russia and rising confrontation in the East China Sea over the region’s offshore waters which involves the Spratly island’s more than 750 islands, islets, atolls and cays, whose various portions of offshore waters are claimed by China, the Philippines, Taiwan, Vietnam, Malaysia and Brunei.

What makes the Falklands Argentinean-British dispute unique however is the fact that in 1980 to the countries actually fought a brief vicious war over the archipelago and its surrounding waters. At the time oil exploration of the Falklands waters had yet to begin, and the node and Argentinian writer Jorge Borges famously compared the dispute to “two bald men fighting over a comb.” The stakes are much higher now.

Common sense would seem to indicate that the best way for might be a possible joint venture between the two nations to explore their offshore waters oil potential hand, if any significant reserves are found jointly to develop them with an agreed-upon program of profit sharing, but given the increasingly strident claims sole sovereignty over the archipelago this seems increasingly unlikely.

If therefore Rockhopper Exploration’s drilling programs prove successful, a number of developments seem increasingly clear. First is that, depending on the political temperature in Buenos Aires, future activities may well need the protection of the Royal Navy.

Secondly is Latin America’s increasingly lining up behind Argentina’s claims to the islands, and Brazil recently stated that it would not allow British exploration vessels to use Brazilian ports to exploit any possible oil developments in the Falklands, Rockhopper Exploration will need to source virtually all of the necessary equipment from the other side of the Atlantic as well as possibly Britain, both major expenses for a company which states it has only $170 million of available cash. Furthermore should development go forward, then a total lack of access to Latin American hydrocarbon infrastructure support means that Rockhopper Exploration will probably be forced to use a floating production, storage and offloading (FPSO) vessel to store and transport its output.

Last but not least, the de facto boycott by Latin America of any future Falklands oil production means that the oil at the very least will have to transit South Atlantic before reaching potential markets, further increasing both development costs and shrinking potential profits.

In light of the above, a joint venture would seem to be the most common sense way to proceed, but given the rising jingoistic nationalism flaring over the issue in both London and Buenos Aires, don’t count on any time soon.

While in history is rife with examples of daring oil explorers making fortunes, the number of examples shrink dramatically when major oil companies give a pass on projected production and you future output is situated in a contested site which less than 30 years ago was a “hot” war zone.

By. John C.K. Daly of OilPrice.com

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