Bakken Oil Bullshit

Remember, Republicans and Conservatives will lie, cheat and steal.

Story from CNBC:

http://finance.yahoo.com/news/Halliburton-to-Hire-11000-In-cnbc-2776247120.html;_ylt=As1iFu078BmYTfGHmwUZvve7YWsA;_ylu=X3oDMTE2NnVwb2VnBHBvcwMxMgRzZWMDdG9wU3RvcmllcwRzbGsDaGFsbGlidXJ0b250?x=0&sec=topStories&pos=9&asset=&ccode=

EXCERPT:

“Energy company Halliburton (NYSE: HAL) plans to hire 11,000 workers in North America in 2011, a top executive told Cramer Wednesday.

Jim Brown, president of Western Hemisphere, said many of the new hires will be sent to North Dakota’s oil-rich Bakken shale, which is one of the largest oil finds in U.S. history and where Cramer broadcast a special episode of ‘Mad Money’ on Wednesday. Brown said Halliburton is currently hiring across the board–from MBAs to unskilled workers.”

For Perspective:

EXCERPTS:
“The Bakken Formation, which also extends into Canada, requires an expensive technique called horizontal drilling.
* More expenses for production get passed on to the end consumer–you, me, all of our friends and neighbors. This oil is going to be expensive to get at.

“The United States uses about seven billion [or 7 billion] barrels of oil a year.”

“The area, known as the Bakken Formation, might contain 3 billion to 4.3 billion barrels of oil that could be extracted using current technology, the survey said.”

* So we might be able to cover half a year, or 6 months, of our country’s oil use with this Bakken Formation? Big f—‘n deal, what are we going to do then?

“The Bakken Formation is the largest oil resource ever assessed by the agency in which the oil is dispersed throughout the rock instead of sitting in separate places. Known as ‘continuous’ oil accumulation, this type of distribution makes the oil harder and more expensive to extract.”

_____________________________________________________________________________________________________

PROPAGANDA WARNING:

* HERE IS THE BULLSHIT/PROPAGANDA MASS EMAIL I RECEIVED IN 2008…

1. Ever heard of the Bakken Formation?

 GOOGLE it or follow this link.  It will blow your mind.
http://www.usgs.gov/newsroom/article.asp?ID=1911

 The U.S. Geological Service issued a report in April (’08) that only
scientists and oilmen knew was coming, but man was it big. It was a
revised report (hadn’t been updated since ’95) on how much oil was in
this area of the western 2/3 of North Dakota; western South Dakota; and
extreme eastern Montana … check THIS out:

 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 [NO, THIS IS BULLSHIT!]. 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.’ And 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 [NO, THIS IS BULLSHIT!].  And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER
BARREL! [NO, THIS IS MORE BULLSHIT ABOUT THE COST OF EXTRACTION!]
>That’s enough crude to fully fuel the American economy for 41 years straight.

 2. And if THAT didn’t throw you on the floor, then this next one
should – because it’s from TWO YEARS AGO, people! 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 is more than 2 TRILLION barrels [MORE BULLSHIT!]. On August 8, 2005 President Bush mandated its extraction [MORE BULLSHIT!].

 They reported this stunning news: We have more oil inside our
borders, than all the other proven reserves on earth [NO, THIS IS MORE BULLSHIT!]. Here are the official estimates:

[ALL OF THE BELOW NUMBERS ARE BULLSHIT!]

>-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
democrats, environmentalists and left wing republicans have blocked all
efforts to help America become independent of foreign oil.

 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 [MORE BULLSHIT!]. Untapped.  That’s more than all the proven oil
reserves of crude oil in the world today, reports The Denver Post [MORE BULLSHIT!].

 Don’t think ‘OPEC’ will drop its price – even with this find?  Think
again! It’s all about the competitive marketplace, – it has to.
>—-
Got your attention/ire up yet? Hope so! Now, while you’re thinking
about it … and hopefully P.O’d, do this:

 3. Take 10 minutes and compose an e-mail; fax or good old-fashioned
letter to all your friends and associates.  Alert them to the fact that
democrats and ‘liberal’ repu blicans have been and will continue to
obstruct all plans to make America independent of foreign oil. The only
solution is to vote all democrats and Marxist oriented out of office.

 If you don’t take a little time to do this, then you should stifle
yourself the next time you want to complain about gas prices .. because
by doing NOTHING, you’ve forfeited your right to complain.                                             

* DO NOT FALL FOR THE BULLSHIT!

______________________________________________________________________________________________________________________________________________________

Read more: http://www.nytimes.com/2008/08/03/us/03drill.html?pagewanted=all

EXCERPT:

“The Bush administration, in its effort to expand energy production, has issued more than three times the number of well-drilling permits on Western lands as in the Clinton administration’s last six years. But oil production in that region during the Bush years is 12 percent below average levels from the Clinton era, according to federal data.

Oil production declined over all to an average of 97.9 million barrels annually from 2001 through 2006, compared with average levels of 111.5 million barrels during the Clinton administration.”

http://www.eia.gov/todayinenergy/detail.cfm?id=490

EXCERPT:

“In North Dakota, for example, total liquids production has risen nearly 150% since 2005 due primarily to escalating development of the Bakken shale (which extends into Montana). Using similar horizontal drilling and hydraulic fracturing technologies applied to the Nation’s shale gas plays, operators increased Bakken production from about one million barrels in 2005 to nearly 50 million barrels in 2009, or about 135,000 barrels per day. Excluding Bakken volumes, the State’s liquids production increased by only about 5% over the same period.”

http://www.csmonitor.com/Environment/2011/0509/Fracking-for-natural-gas-is-polluting-ground-water-study-concludes

EXCERPT:

“A Duke University study finds high methane levels in ground water near where fracking, or hydraulic fracturing, has occurred. Fracking is a controversial practice to extract natural gas from shale.”

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