Fossil fuels and the American economy

I will give you some factual information about the fossil fuel reserves in the United States and you can determine for yourself what is wrong with this picture.

In April of 2008 the U.S.G.S. issued a report detailing some incredible information and findings. This report detailed the amount of oil that sits beneath 2/3 of North Dakota, part of Western South Dakota and a small part of Montana. It is now believed that this oil field often called the Bakken oil field is the largest known reserve in the world.

The reserve is estimated to contain 503 billion barrels of oil. It is also estimated that the cost of each barrel in this reserve is only $16.00 per barrel to the American people. If the aforementioned estimates are true than there is enough oil there to fully fuel the American economy for over 2000 years straight.

This oil field is estimated to contain 8 times as much oil as SaudiĀ  Arabia, 18 times as much as Iraq, 22 times as much as Iran, and 500 times as much as Yemen. On August 8, 2005 President Bush mandated the extraction of this oil. However none has been extracted, even in the face of incredibly high oil prices.

These studies were done almost ten years ago. The most recent studies now have the total amount of oil in this field listed at more than 2 trillion barrels.

Have you heard any of this information from you media source? Has your elected politicians done anything with this new found information to ween us off of foreign oil?
Uploaded 12/12/2011
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Tags: oil