OIL with Charles O. Walts and George Morovich

We have more oil inside our borders, than all the other proven reserves on earth.

– 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
It’s all right here in the Western United States, and we need to tell Congress that NOW IS THE TIME TO BECOME ENERGY INDEPENDENT.  Let the Middle East pound sand.  Drill baby drill!
Here’s an interesting read, important and verifiable information :

About 6 months ago, the writer was watching a news program on oil and
one of the Forbes Bros. 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.” Please read below.

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 (hadn’t been updated since 1995) 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: http://bakkenshale.net/bakkenshalemap.html

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 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
motherload 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! 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?

Got your attention yet? Now, while you’re thinking about it, do this:

Pass this along. If you don’t take a little time to do this, then you
should stifle yourself the next time you complain about gas prices – by
doing NOTHING, you forfeit your right to complain.

Now I just wonder what would happen in this country if every one of you
sent this to every one in your address book.

By the way…this is all true. Check it out at the link below!!!

GOOGLE it, or follow this link. It will blow your mind.

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

George Morovich adds
Charles,
Yes, this is all true. Amazing that in 1980 the J. Carter founded Department of Energy reported we only had 30 Billion Barrels (bbls) of Oil Reserves in the USA – a fraud (as were the oil shortages of the 1970’s under Carter and Nixon). All of this orchestrated as part of a Globalist effort to redistribute American Industry (our wealth). Since 1980 we have produced 90 billion bbls in the USA and we currently have identified reserves totaling over 1.7 Trillion bbls.

The abbreviation”bbls” stands for “BLUE Barrels”, the color used to represent the containers owned by the John Rockefeller Standard Oil Company. We recall these companies were “broken up” 100 years ago as – Standard Oil of NY, Mobil; Standard Oil of NJ, Exxon; Standard Oil of California, Chevron; Standard Oil of Indiana, AMOCO and is now BP; Standard Oil of Ohio is now BP; Standard Oil of Kentucky, Ashland Oil; … and so on).

Here is information on the technology of hydraulic fracturing, which resulted in the increase of recoverable oil reserves:
http://www.api.org/policy-and-issues/policy-items/hf/drilling_video.aspx

But even prior to this new technology, over 70% of US Oil Imports come from North America (Canada and Mexico), with the majority of the balance coming from South America, Africa and the North Sea (nothing from Iran and very little from the Middle East).

This is not what we are told by the Global Media (or evident by the price at our pumps), but is simply due to logistics. Middle East Oil primarily goes to Asia (China, India, Japan, Singapore) and Europe. Due to logistics, Oil is also imported to the US for export (delivery) to the Refineries in eastern Canada (the Enbridge Pipeline from Canada enters at Superior, Wisconsin, supplies refineries in Chicago and Detroit and exits at Port Huron, Michigan to refineries in  Sarnia, Ontario). The USA also exports oil to refineries in the Caribbean and to Japan (we also have to understand that not all crude oil is equal to W Texas Intermediate and not every refinery can process just any crude oil).

Oil Exports:
http://www.indexmundi.com/g/r.aspx?t=0&v=95&l=en

Perhaps even a bigger surprise to We Americans is the fact that the USA is now an exporter of refined product (Gasoline).

The big question we should ask is WHY the US is so concerned about protecting the supply of Oil to China?

My over 30-year career has been related to providing facilities world wide for Petroleum Transportation, Processing and Distribution. The USA is the #1 consumer. The American Petroleum Institute produces Standards used around the Globe (important for US industry). For nearly 25 years I have been a member of the API Committees which produce Standards for Equipment and Calculation of Emissions. Attending a meeting with 42 guys in the room (including the Chairmen of ExxonMobil, ConocoPhillips, ChevronTexaco and others), I am reminded this American Petroleum Industry represents more revenue than most Governments on Earth; however, their profits are small compared to the Total Taxes they pay. Not just the “taxes at the pump”, but for example a $6billion charge to lease rights to just explore the Chukchi Sea (off Alaska), the royalty charge for production, the taxes on infrastructure (a single platform alone may cost $1billion and then there are onshore gathering tanks and transport facilities, storage and blending, refineries, product pipelines and distribution operations, then marketing stations).

We know there are NO Subsidies to the US Oil Industry (the $4 Billion claimed by Hussein are simply the right-off from Income Tax allowed for exploration and production expenses – as for any business). Eliminating this tax “write-off” of expenses would kill any business, and would clearly cripple our ability to produce oil.

There is so much more (why the Global Companies wish to cripple our American oil production), but we’ll leave that for later – for those who want to discuss.

Sincerely yours,
George Morovich

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