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Subj:.....North Dakota Oil (S620c)
          From: aldavito on 11/25/2008
Drawing from DomesticFuel.com...
Source: http://www.snopes.com/politics/gasoline/bakken.asp
 

U.S. Geological Service
     Date: Mon, 1 Sep 2008 17:08:59 -0700 
 

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 500 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.' 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.  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 41 years  straight. 

Snopes.com says that this is partially true.  The 2008 USGS estimate was still far short of the 500 billion barrel volume.  You can read
this Snopes.com article at http://www.snopes.com/politics/gasoline/bakken.asp

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