Get your facts straight
MYTH: Oil companies currently have 68 million acres of leased public lands that contain large amounts of economically recoverable oil available. Drilling in these areas could generate 4.8 million barrels a day so opening up more land is not necessary.
FACT: The estimates on the amount of oil available in those 68 million acres have been derived by assuming that the unused acres can produce the same amount as those acres being used. However, much of the land leased to oil companies has already been explored and determined not to carry enough recoverable oil to justify drilling. This is in stark contrast to the
other 97% of currently banned offshore resources and areas with shale oil, where enormous quantities are known to exist.
That opponents to greater U.S. exploration believe they understand better than petroleum engineers how we obtain oil from drilling is absolutely ridiculous.
You have a penchant for postng bogus information even in the light of the most widely known facts..
Oil is making millionaires in North Dakota
<!-- BEGIN STORY BODY -->By JAMES MacPHERSON, Associated Press Writer
Mon Jun 30, 5:00 AM ET
<!-- end storyhdr -->BEULAH, N.D. - Oscar Stohler was raised in a sod house in western North Dakota and ranched there for nearly seven decades. He never gave much thought to what lay below the grass that fattened his cattle.
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When oilmen wanted to drill there last year, Stohler, 83, doubted oil would be found two miles underground on his property. He even joked about it.
"I told them if they hit oil, I was going to buy a Cadillac convertible and put those big horns on the front and wear a 10-gallon hat," Stohler recalled.
He still drives his old pickup and wears a mesh farm cap — but it's by choice.
In less than a year, Stohler and his wife, Lorene, 82, have become millionaires from the production of one well on their land near Dunn Center, a mile or so from the sod home where Oscar grew up. A second well has begun producing on their property and another is being drilled — all aimed at the Bakken shale formation, a rich deposit that the U.S. Geological Survey calls the largest continuous oil accumulation it has ever assessed.
Landowners in western North Dakota have a much better chance of striking it rich from oil than they do playing the lottery, say the Stohlers. Some of their neighbors in the town of about 120, from bar tenders to Tupperware salespeople, have become "overnight millionaires" from oil royalty payments.
"It's the easiest money we've ever made," said Lorene Stohler, who worked for decades as a sales clerk at a small department store.
State and industry officials say North Dakota is on pace to set a state oil-production record this year, surpassing the 52.6 million barrels produced in 1984. A record number of drill rigs are piercing the prairie and North Dakota has nearly 4,000 active oil wells.
The drilling frenzy has led companies to search for oil using horizontal drilling beneath Parshall, a town of about 980 in Mountrail County, and under Lake Sakakawea, 180-mile-long reservoir on the Missouri River.
"I have heard, anecdotally, that there is a millionaire a day being created in North Dakota," said Ron Ness, president of the North Dakota Petroleum Council.
http://news.yahoo.com/s/ap/20080630/ap_on_re_us/overnight_millionaires_1
This seems to contradict the unsourced crap you are posting really well. Perhaps you should go back and do a revision.
I state again, try to educate yourself on issues instead of simply copying and pasting phony crap from some where you dont even cite then attempting to pass it off as fact..
