OIL RESERVES IN THE U.S.

Why are we exporting oil from other countries, if we have our own resources of oil in the U.S. I received a petition about a government decision to purchase oil from Canada. Unfortunately, I don't know all the details however I decide to search the information on my own. I have heard several people say that we have oil throughout the country and we continue to depend on other resources. I believe it is a said situation that the U.S. is spending millions or billions of dollars on oil and we have the opportunity to tap into our own resources and save. This would allow us to give the consumers a better price at the pump. What is wrong with this picture, we need to wake up and start letting our voice be heard. I'm going to do some more researching, but it looks like the government has an agenda that is against their own country. Instead of helping us in this economy, it looks like they are making every effort to send us deeper into a down spiraling economic direction. I advise each of you, take a moment and research for yourself we need to let the government know that we know what they're doing and it needs to stop. There has got to be a way for us to make some changes in this economic disaster that is plaguing us.

Massive Oil Deposit Could Increase US reserves by 10x

America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant.

In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation that covers North Dakota and portions of South Dakota and Montana. With new horizontal drilling technology it is believed that from 175 to 500 billion barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951. The USGS did an initial study back in 1999 that estimated 400 billion recoverable barrels were present but with prices bottoming out at $10 a barrel back then the report was dismissed because of the higher cost of horizontal drilling techniques that would be needed, estimated at $20-$40 a barrel. (Read Full Story) http://www.nextenergynews.com/news1/next-energy-news2.13s.html