For Libertarians living around the world!
Can USA Oil reserves save the $US?
I quote from a recent email received:
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:
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.
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.
Or will China still overtake the USA and establish a new world bench mark for currency?
What does an Oke from South Africa know anyway!?
Bryan
Comment
-
Comment by Bryan Lever on February 15, 2011 at 4:49pm -
If the report is true, and it seems so, that is good news for addressing the trillions of $s deficit in the USA and also the record $3.6 trillion budget that Obama has announced!!!!
-
Comment by Gary Dale Cearley on February 15, 2011 at 3:22pm
-
Actually, I cannot really comment on the veracity of the report but I do have some customers who are in the services end of this industry and they totally believe it.
-
Comment by Bryan Lever on February 14, 2011 at 8:23pm
-
And your comments about the authenticity of the report on oil reserves in the USA?
-
-
I personally think that there is too much ballyhooing about China these days. Of course they are growing but they still have far, far to go. They dwarf all other economies than the top five and their growth will continue for a while. But there is only so far that cheap labor will take them. Their growth will necessarily slow. There is also the fact that China historically has never been able to press its might too far from its shores as well as the fact that they have a long history of imploding after periods of economic boom.
The reason the United States is in trouble is our turn away from free market, free society and non-intervention. If we can right that it will take yet longer to catch us.
See, the US economy stumbled and has serious problems but as deep as they are I don't believe that they won't be addressed. If anything has been going the way of the United States, that is that most other governments around the world are as bad or worse even so than ours. China has some major issues to deal with. They live in a bit of a glass house so they have to be as careful with their steps as we do. They have become king of the third world, that much is true, but it takes more than that to be a world leader.
Birthdays
Birthdays Today
Notes
Gettin' into gear...!
In a matter of days this site will be up and majorly running! I look for it to become one hell of a nexus for Libertarian expatriates. Let's get on the band wagon!
Created by Gary Dale Cearley Feb 11, 2010 at 11:58pm. Last updated by Gary Dale Cearley Feb 12, 2010.
Notes Home
Welcome! To view all notes, click here.
Created by Gary Dale Cearley Sep 27, 2009 at 8:55pm. Last updated by Gary Dale Cearley Oct 10, 2009.
Badge
© 2012 Created by Gary Dale Cearley.
You need to be a member of Libertarians Abroad to add comments!
Join Libertarians Abroad