Whats the story with the largest oil field being found in the Gulf?

I caught the end of a news clip... can anyone tell me if this is true that Exxon just hit the largest ever oil mine?Whats the story with the largest oil field being found in the Gulf?
Last week, Chevron announced a huge oil find, the Jack Field, some 270 miles southwest of New Orleans, which may contain as much as 15 billion barrels of oil. The find itself is enough to increase the current estimate of total U.S. oil reserves by 50 percent.Whats the story with the largest oil field being found in the Gulf?
should have large domestic oil flow in five years
its full of oil... its a large story
I hope they did because then they will leave the Arctic National Wildlife Region alone.


There is another area that has a lot of oil in the US but it is not being discussed very much. I've been passing the below info on to those who keep telling us to reduce our gas mileage.





The U.S. Govt’s Secret Colorado Oil Discovery





Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world — more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. Three companies have been chosen to lead the way. Test drilling has already begun...





Very recently, the U.S. Energy Department announced the results of a land survey...





It was conducted to determine the official amount of oil a thousand feet deep in the Rocky Mountains...


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:





8-times as much oil as Saudi Arabia


18-times as much oil as Iraq


21-times as much oil as Kuwait


22-times as much oil as Iran


500-times as much oil as Yemen


...And it’s all right here in the Western United States.





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.





When asked about America’s least-publicized oil supply, Utah Senator Orrin Hatch said:





“The amounts of oil are staggering. Who would have guessed that in just Colorado and Utah, there is more recoverable oil than in the Middle East?”





Here’s the kicker...





The U.S. government already owns the land. It’s been right there under our noses the whole time.





In fact, the government’s appointed a small group of companies to lead the way to the oil.





Test drilling has already begun.





According to the RAND Corporation (a public-policy think tank for the government), this small region can produce:





Three million barrels of oil per day... That translates into more than $20 BILLION a year.





These are the conservative estimates. The U.S. Energy Dept. estimates an eventual output of 10 million barrels of oil per day.








There’s a new source of oil in the American West.





Today, it sits idle — untapped — inside more than 16,000 square miles of rock and sand.





Geologists call what lies in this region, oil shale.





What is oil shale?








At first glance, oil shale looks like an ordinary black rock.





It feels grainy to the touch and... greasy. You see, what’s inside oil shale has huge governments, Big Oil, venture capitalists, and even everyday investors scrambling to stake a claim.





Oil shale — when heated — oozes bubbling crude.





This precious resource is rare — found only in a few select countries. Places like China, Brazil, Estonia, Morocco, and Australia.








But the real story is how much untapped oil shale lies beneath U.S. soil. There’s 4-times more oil shale in the U.S. than in all other countries combined.





Over the past 125 years, oil shale has been the secret oil source for a handful of nations. Specifically, those fortunate enough to have it...





China’s been using oil shale since 1929. Today, China is the largest producer of oil from oil shale. It plans to double the daily rate of production soon.


Estonia is an oil shale dependent economy. Over 90% of the country’s electricity is fueled by shale oil. In fact, electricity run on oil shale is a chief export.


In 1991, Brazil built the world’s largest oil shale facility. They’ve already produced more than 1.5 MILLION tons of oil to make high quality transportation fuels.








Jordan, Morocco, and Australia have recently announced plans to utilize their oil shale resources. All 3 governments are currently working to build oil shale facilities.








But all these countries’ oil shale resources pale in comparison to the U.S. supply. Tthe United States dominates the oil shale market — with over 72% of the world’s oil shale resources.





Our gargantuan supply of oil lies beneath an area called the Green River Formation — a barren stretch of land covering portions of Colorado, Utah, and Wyoming.





World-renowned geologist Walter Youngquist calls the oil beneath the Green River Formation, “a national treasure.”





Congress calls this area simply, “the next Saudi Arabia.”





It’s easy to see why...





This region holds the largest known oil reserve on the planet...





Colorado’s Oil Lands — Restricted for 76 Years, Now Open for Drilling





There are over 16,000 square miles of oil shale in the Green River formation...





Each acre holds 2 million barrels of oil — it’s the most concentrated energy source on earth, according to the Energy Department.





The federal government owns 80% of this oil-rich land.





In fact, the government placed protective legislation on this land in 1930, forbidding anyone to touch it.








You see, the government always knew this land was saturated with oil — but getting it out has always been expensive.





Buying oil from foreign countries was always the cheaper bet. It has been for the past 80 years.





Wisely, the government kept the land around for a “rainy day”, protecting it with 1930s legislation.





I’m sure you’re aware of today’s situation at the gas pump. Buying oil from foreign countries has gotten out of hand. The price of oil is sky-high. It’s way too expensive to keep buying foreign oil. In other words, the “rainy day” has finally arrived.





The timing couldn’t be more perfect. Oil shale technologies have begun to advance – drastically.





Companies are coming up with ways to extract oil from the Green River Formation very cheaply.





For example, one Utah-based company says it can extract the oil for as little as $10 a barrel. In fact dozens of companies have stepped forward with similar claims. With oil prices approaching $70 a barrel – these are pretty significant breakthroughs.





That’s all the government needed to hear.





On August 8, 2005, President Bush signed into law, a new energy mandate.





This mandate is called The Energy Policy Act of 2005. It calls for the opening phases of oil extraction in the Green River Formation – the world’s most concentrated energy source.





We’re finally ready to tap the largest oil reserve on the planet...





“The United States Could become ‘The New Middle East’”





~ U.S. Energy Department Survey





If you want to get in on the American oil shale boom, here’s what you need to know...





The New Middle East





It can be difficult to imagine such massive amounts of oil. Below, I’ve included a page of the Energy Department’s classified report. It puts into perspective how much recoverable oil we have — and the kind of money that will be made...





There’s so much oil in this region the Energy Dept. thinks we could become the world’s leading oil producer.





This reserve is so big it’s projected to last for 500 years, according to some estimates.





You could even add together all the oil in the Middle East—and our reserves would still come out on top — 3-TIMES LARGER.





That’s a lot of oil.





Of the 2 trillion barrels of proven oil in the Green River Formation — between 800 billion and 1.2 trillion barrels are recoverable. That’s the amount of oil we can actually get out and use.





Extracting this much domestic oil is very attractive to the government, especially in today’s politically unstable environment.





It’s estimated that tapping U.S. oil shale would decrease domestic oil prices by as much as five percent a year. That may not sound like much, but consider that a 5% drop in oil prices would save Americans $15 - $20 BILLION a year at the gas pumps.





That’s why on August 8, 2005, President Bush signed into law the Energy Policy Act of 2005.





This historic legislation officially opens up the Green River Formation to a handful of drilling companies.





In January, the government accepted proposals from six companies to test their oil shale drilling methods for commercial production.





Already 3 have been cut... Now only 3 are left.





From the remaining three, I think only one company’s drilling technology will meet the government’s strict shale development standards – and go on to develop oil shale on a commercial level.





This company would be responsible for launching America’s first commercial oil shale operation and production “...Leading the way to more than two trillion barrels of oil shale deposits in the Green River Formation,” writes the U.S. Federal News Service.


How much can you expect to make?





You may be aware of a similar situation going on, right now in the oil business, in an area called the Alberta Oil Sands.





This region in Northern Canada holds billions of barrels of oil – which also happen to be locked inside large amounts of sand and rock.





Oil shale is still a ground floor opportunity.


The Piceance basin has the highest oil concentration in the Green River Formation – holding more than 1.2 TRILLION barrels of oil.





This is the region the government-selected companies will use to test their shale drilling methods.





How fast does the government want to get full-scale oil shale production started?





Exxon's oil shale proposal was rejected almost immediately because they didn't have a ten-year oil shale program in place. This reveals just how serious the government is about getting U.S.oil shale production up and running within the next 10 years.





As long as the government is pushing the oil shale development in the Piceance basin, this company will have to supply the power.





And I don’t see the government leaving anytime soon.


The oil shale [testing] will take place in the same areas where drilling for natural gas has been rapidly expanding. If all the leases produce, the area would be transformed into a highly industrialized zone with a network of roads, pipelines, rail lines, and power plants to service the gas fields, oil shale heating sites and oil shale mines.





The U.S. Bureau of Land Management





In other words, if you’re a company going after oil shale, you need more than just the ';secret energy'; source, you need natural gas – and lots of it.





Oil shale companies use natural gas to heat the oil shale, run electricity, and for the day-to-day operations...





Natural gas is the cheapest way to get energy to the remote areas of western Colorado, Utah, and Wyoming.








The Bush administration has already designated the Green River Formation, “The Next Big Energy Boom.”


As you can see, the U.S. government has already set the wheels in motion for oil shale.


Oil shale is not the only place oil companies are looking for oil...


The Minerals Management Service estimates that there are 71 billion barrels of oil waiting to be discovered in the deep waters of the Gulf of Mexico.


There are another 85 billion barrels off the coast of West Africa...


And the waters that surround the Spratly Islands in the South China Sea could hold as many as 300 billion barrels.





Altogether, these three regions alone represent enough reserves to replace HALF of all oil we’ve ever burned on earth.


The U.S. Government’s Secret Oil Supply:


The Green River Formation is the largest known supply of oil in the world — holding more than 2 TRILLION barrels.





Here’s the clincher...





Even if they never find another drop of oil — they have enough reserves and production capacity — to last another 12 years.





The Pentagon has announced plans to purchase 300,000 barrels of Green River oil shale every day. They’ll use this fuel for military aircraft and vehicles. This deal shows just how fast things are moving in the Green River Formation.
doesnt matter.








BUY HYBRIDS OR ELECTRIC CARDS PEOPLE!!!!!!





Blessed,