Mish's Global Economic Trend Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: NOW who wrote (80824)	6/29/2008 4:51:58 PM
From: Chispas	Read Replies (2) of 116555

Pogo was right; we have met the enemy and the sucker is us... durantdemocrat.com This will probably come as a surprise to you, but there is indeed pornography on the Internet. I myownself ran across some of it while researching this column. It was cleverly disguised as information, but it is pornography at its absolute worst. It has to do with the Bakken Formation. I’m more familiar with the split-T or single-wing formations. Most of us probably are not familiar with the Bakken Formation. If you’re among the most, go to Google and see for yourself. It’s scary and it will make you mad. Trust me on this. THE BAKKEN Formation is covered in a U.S. Geological Service report issued in April of 2008. It was a revised report, that hadn’t been updated since 1995, on how much oil was in the area of the western two-thirds of North Dakota; western South Dakota; and extreme eastern Montana. Turns out there’s a really big gob of the stuff we need and don’t have. The Bakken is the largest domestic oil discovery since Alaska’s Prudhoe Bay. It has the potential to eliminate all American dependence on foreign oil. Repeating: It has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 BILLION barrels. Recovering just 10 percent of this oil at $107 a barrel would be a resource base worth more than $5.3 TRILLION. THE PITTSBURGH Post Gazette reports it as the highest-producing onshore oil field found in the past 56 years. Even the “Big Oil” companies gave up searching for major oil wells decades ago. A recent technological breakthrough has opened the Bakken’s rich reserves, giving access up to 500 BILLION barrels. 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 41 consecutive years straight in a row. THE STANSBERRY Report Online of 4-20-06 revealed the largest untapped oil reserve in the world. That’s not just Bryan County. It’s the whole stinking world. The report says that 1,000 feet beneath the surface of the Rocky Mountains lies more than 2 TRILLION barrels. President Bush mandated its extraction on August 8, 2005. Let’s see — August 8, 2005 to June 26, 2008 — that’s how many wasted days and wasted nights? That report said we have more oil inside our borders than all other proven reserves on earth. Why don’t we have this oil? You do the math. This should be put to a public vote of all the legislators. Anybody saying nay should be shot gently in the head. Squeeze the trigger, don’t jerk it. We don’t want to be insensitive here.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next