Where is the most OIL in the world? (Canada/USA) (28)
like I've been sayong for years, there is no shortage of oil, it's all absolute BS to keep the price of oil up.
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kidatheart: like I've been sayong for years, there is no shortage of oil, it's all absolute BS to keep the price of oil up.
Hey Kid...I had too shorten it quite a bit. Anyways looks like most of the oil is in Canada!!!!! Where the hell is the Canadian government on this?------ This thread is Archived ------
Not really surpised by this...its all about who puts the most money in thier pockets..
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cincity: Not really surpised by this...its all about who puts the most money in thier pockets..
Would definitely seem so....corruption knows no bounds.------ This thread is Archived ------
Christmas1: Hey Kid...I had too shorten it quite a bit. Anyways looks like most of the oil is in Canada!!!!! Where the hell is the Canadian government on this?
I read recently that the Canadian Gov. has granted off shore drilling rights to...get this...BP Uh-huh you read that right.
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Christmas1: Hey Kid...I had too shorten it quite a bit. Anyways looks like most of the oil is in Canada!!!!! Where the hell is the Canadian government on this?
I've known that for years, but our government gave away a lot of the rights to it in the 50's. We as Canadians had the opportunity to explore, develop, and extrect out own oil, but opted to let others do it for us.
The first oil well in North America was in Ontario, and the exploration done in the Turner Valley are in Alberta are some of the earliest big finds.
Wait until they start drilling off the coast of Vancouver Island, there's a lot of natural gas there too, not just in the foothills or prairies.
We should hang all our politicians, even the dead ones.
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kidatheart: I've known that for years, but our government gave away a lot of the rights to it in the 50's. We as Canadians had the opportunity to explore, develop, and extrect out own oil, but opted to let others do it for us.
The first oil well in North America was in Ontario, and the exploration done in the Turner Valley are in Alberta are some of the earliest big finds.
Wait until they start drilling off the coast of Vancouver Island, there's a lot of natural gas there too, not just in the foothills or prairies.
We should hang all our politicians, even the dead ones.
GAWD!!! figures stupid politicians....50's had to have been Diefenbaker. Yep...looked it up...the man sold us to the Americans...on many things...stupid man.The first oil well in North America was in Ontario, and the exploration done in the Turner Valley are in Alberta are some of the earliest big finds.
Wait until they start drilling off the coast of Vancouver Island, there's a lot of natural gas there too, not just in the foothills or prairies.
We should hang all our politicians, even the dead ones.
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In germany???
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In the ground!
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TheresMyFriend: In the ground!
Good answer...------ This thread is Archived ------
conjor: Good answer...
Thank ye, there Conjor!
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venusenvy: I read recently that the Canadian Gov. has granted off shore drilling rights to...get this...BP Uh-huh you read that right.
Largest share holder is JPM***an Chase...wonder what their shares are at? $48 down to $39 not nearly low enough.!!!!!------ This thread is Archived ------
conjor: In germany???
What? Germany?------ This thread is Archived ------
kidatheart: It would seem we do too. I still don't understand why we're subsidizing the US market in oil and gas. They get it cheaper than we do, and the US gets roughly 35% of their oil from right here in Canada.
With our resources and available talent and technology, we should be doing a hell of a lot better than we are in this country.
Our politicians aren't working for us, although I doubt they ever have, except for maybe Trudeau.
With our resources and available talent and technology, we should be doing a hell of a lot better than we are in this country.
Our politicians aren't working for us, although I doubt they ever have, except for maybe Trudeau.
No difference in the US
most work for corporate interests."There's time for politics. There's time for politics, and I -- it's an absurd asinuation." ~George Bush, An Absurd Asinuation: President Bush's Earpiece
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The object isn't to make a lot of money nor is it to become independent. If we use up our own oil now, we will have to import later whereas, using theirs now means we will have when others have not. In any case, oil in the ME is easy to get at and cheap to extract wheras our oil in NA is not so fiscally, it makes sense to buy from others at today's prices and, when oil goes up in price, new technologies can be used to extract this oil for better resource management and, higher profit.
Flooding the market with cheap oil that costs more to produce and driving down prices while lowering your resource reserves is irresponsible for any government looking further than a decade in the future. Hence, I tend to disagree with the bulk of the posters here who call the reluctance to develop any and all reserves wrong.
Flooding the market with cheap oil that costs more to produce and driving down prices while lowering your resource reserves is irresponsible for any government looking further than a decade in the future. Hence, I tend to disagree with the bulk of the posters here who call the reluctance to develop any and all reserves wrong.
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Albertaghost: The object isn't to make a lot of money nor is it to become independent. If we use up our own oil now, we will have to import later whereas, using theirs now means we will have when others have not. In any case, oil in the ME is easy to get at and cheap to extract wheras our oil in NA is not so fiscally, it makes sense to buy from others at today's prices and, when oil goes up in price, new technologies can be used to extract this oil for better resource management and, higher profit.
Flooding the market with cheap oil that costs more to produce and driving down prices while lowering your resource reserves is irresponsible for any government looking further than a decade in the future. Hence, I tend to disagree with the bulk of the posters here who call the reluctance to develop any and all reserves wrong.
Flooding the market with cheap oil that costs more to produce and driving down prices while lowering your resource reserves is irresponsible for any government looking further than a decade in the future. Hence, I tend to disagree with the bulk of the posters here who call the reluctance to develop any and all reserves wrong.
Ummm, then why are there so many oil wells in Alberta, BC and Saskatchewan, not to mention the tar sands, and more exploration and drilling activity all the time?
Who's looking out for Canadians? I'm sure it isn't the US.
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kidatheart: Ummm, then why are there so many oil wells in Alberta, BC and Saskatchewan, not to mention the tar sands, and more exploration and drilling activity all the time?
Oil production is about fifteen bucks a barrel here while in SA it's about six. Iraq is two (then add on security and infrastructure to handle the oil) so at today's prices, it is quite feasible to go after the shallow stuff here in Alberta. And, with new technologies such as directional, wells that were considered dry can be revisited for even more profit.
However, to begin drilling in areas that are more difficult with deeper wells costs far more and lowers the profit margin while lowering your resources which can be saved and cashed in on by our children in fifty years or more.
kidatheart: Who's looking out for Canadians? I'm sure it isn't the US.
I certainly see no advantage at extracting all the oil now at fifty dollars a barrel production and flooding the market and lowering the price to $51 for a net profit of one buck. I'd rather plod along and have this all in reserve for our children to pull out at a hundred and sell for two hundred.
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Albertaghost: Oil production is about fifteen bucks a barrel here while in SA it's about six. Iraq is two (then add on security and infrastructure to handle the oil) so at today's prices, it is quite feasible to go after the shallow stuff here in Alberta. And, with new technologies such as directional, wells that were considered dry can be revisited for even more profit.
However, to begin drilling in areas that are more difficult with deeper wells costs far more and lowers the profit margin while lowering your resources which can be saved and cashed in on by our children in fifty years or more.
I certainly see no advantage at extracting all the oil now at fifty dollars a barrel production and flooding the market and lowering the price to $51 for a net profit of one buck. I'd rather plod along and have this all in reserve for our children to pull out at a hundred and sell for two hundred.
However, to begin drilling in areas that are more difficult with deeper wells costs far more and lowers the profit margin while lowering your resources which can be saved and cashed in on by our children in fifty years or more.
I certainly see no advantage at extracting all the oil now at fifty dollars a barrel production and flooding the market and lowering the price to $51 for a net profit of one buck. I'd rather plod along and have this all in reserve for our children to pull out at a hundred and sell for two hundred.
Yes, I'm well aware of all that, my point is why are we still drilling new wells, and shipping it without Canadian citizens benefiting from it more than they do.
We get very little money per barrel, and even less for natural gas. The actual profits are being made by American and multinational companies.
We as Canadians are being shortchanged by out elected officials.
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kidatheart: Yes, I'm well aware of all that, my point is why are we still drilling new wells, and shipping it without Canadian citizens benefiting from it more than they do.
Alberta gets royalties and, just increased them for a bigger payout from oil companies. The federal government gets their share as well so not sure what you mean unless you are expecting a cheque in the mail every month or something.
kidatheart: We get very little money per barrel, and even less for natural gas. The actual profits are being made by American and multinational companies.
Don't forget Canadian companies as well. In fact, you may start your own company and pay your lease rights and then begin to extract low grade oil to be shipped to the US anytime you wish. In fact, since you are saying the oil companies are raping us why are you not just diving into this risk free bonanza and getting rich?
kidatheart: We as Canadians are being shortchanged by out elected officials.
Speak for yourself. Alberta is doing quite well as it is now a fairly well developed province with low unemployment and a high standard of living wheras forty years ago it was just a huge tract of mud. As well equalization transfers to the Fed and subsequently all Canadians ensure we as Canadians are not being shortchanged.
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Created: Jul 2010
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What an eye-opener! Thing is... It looks to me like the U.S. is considering the largest part of the oil find, which is in Canada, as their oil.
The existence of the Bakken thing is widely known, and has been on the internet before.
Due to the current BP fracas, re-visiting is probably timely. Politics again !
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
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.
"This sizable find is now the highest-producing onshore oil field found
in the past 56 years," reports The Pittsburgh Post Gazette. It's
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. 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:
- 500-times as much oil as Yemen
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
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> >