GOP: Lift Drilling Ban or Risk Shutdown

[red states rule]

Finally, Republicans are showing signs of life against the Do Nothing Dems in Congress

Of course I would not mind if the government is shut down



GOP: Lift drilling ban or risk shutdown
Democrats eye budget tie


The showdown on Capitol Hill over expanding offshore drilling could lead to a threatened government shutdown when Congress returns from its five-week summer break in early September.

Some Republicans say they are prepared to vote against a resolution to fund the federal government for the 2009 fiscal year unless Democrats agree to lift an offshore drilling moratorium. If the budget resolution fails, many agencies and departments would be denied money to operate and would be forced to close.

"We don't want the government shutdown to be an issue, but the fact is the Democrats are so overconfident that they're willing to talk about a ban and they're willing to talk about raising taxes on gasoline, so this is just pretty incredible," said Sen. Jim DeMint, a South Carolina Republican who is circulating a letter encouraging colleagues to demand that Senate Majority Leader Harry Reid, Nevada Democrat, strike the drilling moratorium from the budget resolution.

"But I think that once Americans realize that this [drilling] ban will expire unless we pass something, I think there is going to be just an outcry to not vote for anything that had a ban in it."

The congressional drilling moratorium was first enacted in 1982 and has been renewed every year since. It prohibits oil and gas leasing on most of the outer continental shelf - three miles to 200 miles offshore - and expanded oil shale development in the West. The ban is set to expire at the end of September, but Democratic leaders are expected to include a one-year extension in legislation that they will introduce next month to continue funding the government for the 2009 fiscal year, which begins Oct. 1.

The impasse centers on Republican demands that any energy plan include a provision to expand domestic oil drilling to areas currently off-limits, including a wildlife reserve in northern Alaska and in the eastern Gulf of Mexico. Democrats oppose the idea, saying oil companies already have millions available drilling acres on land they're not using.

"If the Democrats choose to hold the continuation of government operations as a hostage, then as far as I'm concerned, I can't vote for anything that has a ban in it," Mr. DeMint said. "That would just be a betrayal of everything we're talking about as Republicans. And I think that most Republicans are going to feel that way."

Republicans say the ban needs to be lifted to lower

http://www.washingtontimes.com/news/2008/aug/04/lift-drilling-ban-or-risk-shutdown-gop-warns/

[theHawk]

Republicans actually standing up to Democrats for a change? They keep this up I might have to support them!

[hjmick]

When did doctors start doing spinal transplants?

[red states rule]

Republicans actually standing up to Democrats for a change? They keep this up I might have to support them!

It is about damn time. The liberal media are doing their best NOT to report this - but at least McCain is talking about it

He is calling for Dems to come back from vacation and hold the vote

[mundame]

Of course I would not mind if the government is shut down



Wow, that would be great!!

I would love that.

The GOP might get some real points from the public if they shut down the hated government.

[red states rule]

Wow, that would be great!!

I would love that.

The GOP might get some real points from the public if they shut down the hated government.

By standing up to Pelosi and Reid, they are getting points from me right now.

All Dems want is power, and the power they have now has gone to their head

[darin]

...who pays for it? I do. And other federal employees who likely wouldn't get a pay check for awhile. :(

Still...I suppose I'd support it.

[red states rule]

...who pays for it? I do. And other federal employees who likely wouldn't get a pay check for awhile. :(

Still...I suppose I'd support it.

The less government operates the better off we all are

All this is over the Dems refusing to grant a simple up or down vote on drilling.

San Fran Nan would rather screw us then lose the vote; and having to explain why to the tree huggers

[mundame]

The less government operates the better off we all are

All this is over the Dems refusing to grant a simple up or down vote on drilling.

San Fran Nan would rather screw us then lose the vote; and having to explain why to the tree huggers


Come to think of it, indirectly that would shut me down, too. http://macg.net/emoticons/fear1.gif I suppose it would take a few weeks.

All the same, I'm up for it. Shut it down!! We'll all be better off.

[red states rule]

Come to think of it, indirectly that would shut me down, too. http://macg.net/emoticons/fear1.gif I suppose it would take a few weeks.

All the same, I'm up for it. Shut it down!! We'll all be better off.

Then you would have time to get your tires inflated and the car tuned up :laugh2:

[theHawk]

...who pays for it? I do. And other federal employees who likely wouldn't get a pay check for awhile. :(

Still...I suppose I'd support it.

I'm a federal employee, and I fully support what they are trying to do. The country is more important than a paycheck.

[red states rule]

I'm a federal employee, and I fully support what they are trying to do. The country is more important than a paycheck.

I wish the Dems would realize the country is more important then losing one vote in Congress

[mundame]

Then you would have time to get your tires inflated and the car tuned up :laugh2:


I could really use a little time off......................

[red states rule]

I could really use a little time off......................

I hope the Dems cave and allow the vote so you and others will not be hurt money wise

Go by your local Obama office and see if they will give you a free tire gauge. Watch the reaction you get :laugh2:

[darin]

I'm a federal employee, and I fully support what they are trying to do. The country is more important than a paycheck.

...we'd get back-pay anyway. :)

[mundame]

Go by your local Obama office and see if they will give you a free tire gauge. Watch the reaction you get :laugh2:


I have a terrible feeling that you have already tried that out.............http://wade.hu/smiley/kategoriak/szemtelen/cheeky-smiley-023.gif

[red states rule]

I have a terrible feeling that you have already tried that out.............http://wade.hu/smiley/kategoriak/szemtelen/cheeky-smiley-023.gif

Lets just say they were out of stock when I asked for one :laugh2:

[April15]

Shut it down! Fuck the GOP.

[red states rule]

Shut it down! Fuck the GOP.

Here you go folks. A Dems view of bipartisanship

[darin]

Shut it down! Fuck the GOP.

What the hell are you talking about?

[red states rule]

What the hell are you talking about?

Are you sure he even knows?

I suspect he is thinking the last time the Republicans shut down the government and Slick Willie along with the liberal media made the GOP look bad

So, he thinks Reid and Pelosi will do the same. So I suspect April does not care about people paying $4.50/gal for gas, only how the Dems will make out

[Little-Acorn]

What the hell are you talking about?

Typical leftist spew that comes when they are defeated and unhappy. Like vomit from a drunk, they can no more explain it than they can stop it.

[April15]

Typical leftist spew that comes when they are defeated and unhappy. Like vomit from a drunk, they can no more explain it than they can stop it.I am happy and undefeated. I have been down but not out. Politically I have been disappointed with Americas choices for President and such but have confidence that time will be on our side to correct the gross errors and negligence of the choices.

[bullypulpit]

Let's look at a few facts...Shall we?

Firstly, leasing of these new offshore sites would not begin until <b>2012</b>. Secondly, production could not realistically be expected to start until <b>2017</b>. Thirdly, not until 2030 would production begin to impact crude and NG prices, and even then, "Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant. - <a href=http://www.eia.doe.gov/oiaf/aeo/otheranalysis/ongr.html>EIA</a>". This from the Department of Energy.

The whole question of ANWR and offshore drilling is a canard being foisted on the American public by the McCain campaign, the Bush administration and its slavish supporters in a feeble attempt to deflect attention from the fact that we can't drill our way out of this dependency on foreign oil. The ONLY way to do that is to reduce our dependency on fossil fuels. Period.

Sorry Red, but it's just gotta piss you off to no end that reality has a liberal bias.

[Shadow]

Not sure I agree that shutting down government would be a good thing. It could effect some old folks Social Security checks from being sent out on time. Which could hurt the people who live off that income ( my mother comes to mind). I hope it doesn't come to that.

[PostmodernProphet]

...who pays for it? I do. And other federal employees who likely wouldn't get a pay check for awhile. :(

Still...I suppose I'd support it.

the last time the government shut down they paid federal employees lost pay anyway......

[red states rule]

Let's look at a few facts...Shall we?

Firstly, leasing of these new offshore sites would not begin until <b>2012</b>. Secondly, production could not realistically be expected to start until <b>2017</b>. Thirdly, not until 2030 would production begin to impact crude and NG prices, and even then, "Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant. - <a href=http://www.eia.doe.gov/oiaf/aeo/otheranalysis/ongr.html>EIA</a>". This from the Department of Energy.

The whole question of ANWR and offshore drilling is a canard being foisted on the American public by the McCain campaign, the Bush administration and its slavish supporters in a feeble attempt to deflect attention from the fact that we can't drill our way out of this dependency on foreign oil. The ONLY way to do that is to reduce our dependency on fossil fuels. Period.

Sorry Red, but it's just gotta piss you off to no end that reality has a liberal bias.

More BS. It wil not take 10 years to get the oil to market. More Dem BS talking points

What you lib will not tell us id how long it will take your "new sources" of energy to market

You also ignore the new jobs created by drilling

No, BP you guys want the higher prices. This has been a dream of the left for many years. The fact that 70% want drilling and yet San Fran Nan and Harry "the war is lost" Reid REFUSED to allow the up or down vote tells you Dems were scared the bill would pass

They know damn well, the moment the bill is signed oil prices would drop. That is the last thing Dems want 3 months from an election

[Kathianne]

More BS. It wil not take 10 years to get the oil to market. More Dem BS talking points

What you lib will not tell us id how long it will take your "new sources" of energy to market

You also ignore the new jobs created by drilling

No, BP you guys want the higher prices. This has been a dream of the left for many years. The fact that 70% want drilling and yet San Fran Nan and Harry "the war is lost" Reid REFUSED to allow the up or down vote tells you Dems were scared the bill would pass

They know damn well, the moment the bill is signed oil prices would drop. That is the last thing Dems want 3 months from an election

Actually RSR, more DEPARTMENT OF ENERGY whacko talk. Let's remember who created that 'cabinet position' and why. In over 30 years it has done ZIP to move our country towards energy independence, while working to be Lilliputians to the industries that could do so.

[red states rule]

Actually RSR, more DEPARTMENT OF ENERGY whacko talk. Let's remember who created that 'cabinet position' and why. In over 30 years it has done ZIP to move our country towards energy independence, while working to be Lilliputians to the industries that could do so.

That is one of several departments that could be shut down and done away with

[Kathianne]

That is one of several departments that could be shut down and done away with

At least this and Department of Education. Both should be gone IMO.

[red states rule]

At least this and Department of Education. Both should be gone IMO.

Homeland Security and Housing and Urban Development as well

[bullypulpit]

More BS. It wil not take 10 years to get the oil to market. More Dem BS talking points

What you lib will not tell us id how long it will take your "new sources" of energy to market

You also ignore the new jobs created by drilling

No, BP you guys want the higher prices. This has been a dream of the left for many years. The fact that 70% want drilling and yet San Fran Nan and Harry "the war is lost" Reid REFUSED to allow the up or down vote tells you Dems were scared the bill would pass

They know damn well, the moment the bill is signed oil prices would drop. That is the last thing Dems want 3 months from an election

Sorry Red, but the EIA report was not more "More Dem BS talking points". The report was from the <b>BUSH</b> administration's own Department of Energy, not some left-wing spin machine.

Rather, if we concentrated on alternative sources, we could stop sending $700 billion overseas each year. And with the US heartland, from North Dakota to Texas being a huge source of wind power, perhaps we should adopt <a href=http://www.pickensplan.com/theplan/>T. Boone Pickens plan</a> to reduce American dependence on fossil fuels by some 20%. The technology exists, and there would be a one time cost of $1 trillion to build the wind generators with an extra $200 billion to build the transmission infrastructure. This money would be spent within the US and generate more jobs than any amount of offshore drilling. And the power would hit the markets sooner than any produced by drilling. I hardly think T. Boone Pickens is a left wing moon-bat.

Sorry Red. Reality trumps your sorry-assed rant...Again. B'bye now.

[Kathianne]

Homeland Security and Housing and Urban Development as well

There was a time I would have disagreed about HUD, not anymore. Yeah, Justice should be able to handled Homeland Security, I thought it a bad idea at the time.

[red states rule]

Sorry Red, but the EIA report was not more "More Dem BS talking points". The report was from the <b>BUSH</b> administration's own Department of Energy, not some left-wing spin machine.

Rather, if we concentrated on alternative sources, we could stop sending $700 billion overseas each year. And with the US heartland, from North Dakota to Texas being a huge source of wind power, perhaps we should adopt <a href=http://www.pickensplan.com/theplan/>T. Boone Pickens plan</a> to reduce American dependence on fossil fuels by some 20%. The technology exists, and there would be a one time cost of $1 trillion to build the wind generators with an extra $200 billion to build the transmission infrastructure. This money would be spent within the US and generate more jobs than any amount of offshore drilling. And the power would hit the markets sooner than any produced by drilling. I hardly think T. Boone Pickens is a left wing moon-bat.

Sorry Red. Reality trumps your sorry-assed rant...Again. B'bye now.


Strange how one of the top Bush haters now runs with his Energy Dept reports :laugh2:

Now they know more then the oil companies about how fast new oil can get to the market then the oil companies

[Kathianne]

Sorry Red, but the EIA report was not more "More Dem BS talking points". The report was from the <b>BUSH</b> administration's own Department of Energy, not some left-wing spin machine.

Rather, if we concentrated on alternative sources, we could stop sending $700 billion overseas each year. And with the US heartland, from North Dakota to Texas being a huge source of wind power, perhaps we should adopt <a href=http://www.pickensplan.com/theplan/>T. Boone Pickens plan</a> to reduce American dependence on fossil fuels by some 20%. The technology exists, and there would be a one time cost of $1 trillion to build the wind generators with an extra $200 billion to build the transmission infrastructure. This money would be spent within the US and generate more jobs than any amount of offshore drilling. And the power would hit the markets sooner than any produced by drilling. I hardly think T. Boone Pickens is a left wing moon-bat.

Sorry Red. Reality trumps your sorry-assed rant...Again. B'bye now.

I have nothing against any plan being implemented or at least tried, including Pickens. I'm all for incentives to business, universities, individuals to be rewarded or given grants for developing new technologies.

But no replacements that are up and running are today ready to take the place of fossil fuels. IMO we should have followed the French 15 years ago and have built more nuclear plants to provide electricity, leaving gas for cars and agriculture. But we are where we are. It's 30 years late for Congress to be dealing with this.

[red states rule]

I have nothing against any plan being implemented or at least tried, including Pickens. I'm all for incentives to business, universities, individuals to be rewarded or given grants for developing new technologies.

But no replacements that are up and running are today ready to take the place of fossil fuels. IMO we should have followed the French 15 years ago and have built more nuclear plants to provide electricity, leaving gas for cars and agriculture. But we are where we are. It's 30 years late for Congress to be dealing with this.

Libs say we can't use coal because of CO2

We can't drill because it would harm the caribou

We use nuclear because it is to dangerous. Jane Fonda proved that in her movie

The Dems are now the party of "No we can't"

[Kathianne]

Libs say we can't use coal because of CO2

We can't drill because it would harm the caribou

We use nuclear because it is to dangerous. Jane Fonda proved that in her movie

The Dems are now the party of "No we can't"

They are also in the majority, thanks to years of ineffective Republican control. However, if the Dems don't reverse their course, the opposition may pull off an upset in the fall. The DNC should be reading the pulse of the people, closely.

[red states rule]

They are also in the majority, thanks to years of ineffective Republican control. However, if the Dems don't reverse their course, the opposition may pull off an upset in the fall. The DNC should be reading the pulse of the people, closely.

It would be something to see Obama lose, and Dems lose seats in the House and Senate

My many Dems around here will be on suicide watch :laugh2:

If they keep opposing drilling and putting their fringe groups ahead of the country - it might just happen

[Kathianne]

It would be something to see Obama lose, and Dems lose seats in the House and Senate

My many Dems around here will be on suicide watch :laugh2:

If they keep opposing drilling and putting their fringe groups ahead of the country - it might just happen

I find that an unlikely, though currently not impossible, outcome. It's the Dems to lose, they seem determined at the present time.

[red states rule]

I find that an unlikely, though currently not impossible, outcome. It's the Dems to lose, they seem determined at the present time.

I agree

Obama will lose, but Dems will probably gain seats

Then the Dems war on Bush turns into a war on McCain

[Kathianne]

Just on drop of demand:

http://news.yahoo.com/s/ap/20080805/ap_on_bi_ge/oil_prices


Oil falls as low as $118 on demand concerns

By PABLO GORONDI, Associated Press Writer 23 minutes ago

Oil prices slid further Tuesday, dropping to as low as $118 a barrel on widening expectations that the slumping U.S. economy will keep eroding consumer demand for gasoline and other petroleum products.
ADVERTISEMENT

The U.S. dollar's gains against the euro also contributed to oil's decline. Light, sweet crude for September delivery was down $1.51 at $119.90 a barrel in premarket trading on the New York Mercantile Exchange. Earlier, it dropped to $118, before regaining some ground.

Crude has now fallen more than $25 since reaching a trading high of $147.27 on July 11. The growing belief that soaring prices have stifled demand has halted what appeared to be a relentless march higher...

[red states rule]

and here are the real numbers on oil spills and where the oil comes from. This will not play well with the tree huggers


snip

A report by the National Research Council found that offshore oil and gas drilling was responsible for just 2% of the petroleum in North America's oceans, compared with 63% from natural seepage and 22% from municipal and industrial waste. Coast Guard reports show that the amount of oil spilled in U.S. waters dropped from 3.6 million barrels in the 1970s to less than 500,000 in the 1990s.

During Hurricanes Katrina and Rita in 2005, 115 oil platforms were toppled, but only insignificant amounts of oil spilled, says Roland Guidry, Louisiana's oil spill coordinator.

There was significant pollution — 8 million to 10 million gallons of oil spilled, mostly from tanks and pipelines on land and from tankers striking submerged drilling platforms — but less than 10% of that came from federal offshore operations.

Today's technology, such as automatic shutoff valves on the seabed floor and mechanical devices that can prevent blowouts caused by uncontrolled buildups of pressure, has greatly reduced the risk of oil spills

http://www.usatoday.com/money/industries/energy/2008-07-13-offshore-drilling_N.htm

[DragonStryk72]

Sorry Red, but the EIA report was not more "More Dem BS talking points". The report was from the <b>BUSH</b> administration's own Department of Energy, not some left-wing spin machine.

Rather, if we concentrated on alternative sources, we could stop sending $700 billion overseas each year. And with the US heartland, from North Dakota to Texas being a huge source of wind power, perhaps we should adopt <a href=http://www.pickensplan.com/theplan/>T. Boone Pickens plan</a> to reduce American dependence on fossil fuels by some 20%. The technology exists, and there would be a one time cost of $1 trillion to build the wind generators with an extra $200 billion to build the transmission infrastructure. This money would be spent within the US and generate more jobs than any amount of offshore drilling. And the power would hit the markets sooner than any produced by drilling. I hardly think T. Boone Pickens is a left wing moon-bat.

Sorry Red. Reality trumps your sorry-assed rant...Again. B'bye now.

Hold on, there bucko. Go check out the other topic on here, the one where oil has dropped $30 since this bill came to light. Just the talk about this bill dropped prices, so what would passing the bill do? At the very least, it's going to scare the ever-livin' out of OPEC, who are going to be dropping prices like mad, because we are their biggest customer by a long stretch, and they can't afford to lose that much business.

Now, as to the rest, okay fine, so we put in the legislation necessary to speed it up. Problem solved.

[red states rule]

Hold on, there bucko. Go check out the other topic on here, the one where oil has dropped $30 since this bill came to light. Just the talk about this bill dropped prices, so what would passing the bill do? At the very least, it's going to scare the ever-livin' out of OPEC, who are going to be dropping prices like mad, because we are their biggest customer by a long stretch, and they can't afford to lose that much business.

Now, as to the rest, okay fine, so we put in the legislation necessary to speed it up. Problem solved.

Lets see, oil is dropping below $120 and the Dow is up over 200 points right now

Yep, nothing but bad economic news for the Dems today.

So BP, we have not started to drill, but the threat of drilling is making the price of oil drop. What do you think will happen when we do start drilling?

[bullypulpit]

Hold on, there bucko. Go check out the other topic on here, the one where oil has dropped $30 since this bill came to light. Just the talk about this bill dropped prices, so what would passing the bill do? At the very least, it's going to scare the ever-livin' out of OPEC, who are going to be dropping prices like mad, because we are their biggest customer by a long stretch, and they can't afford to lose that much business.

Now, as to the rest, okay fine, so we put in the legislation necessary to speed it up. Problem solved.

Sorry, but it's not going to scare OPEC one damn bit given that the first oil from any new off-shore drilling won't hit the market for nearly ten years. And then there's the issue of the quantity of oil produced being insufficient to make anything more than a blip on world oil supply, hence little impact on prices...either at the well head or the gas pump. Prices are dropping because demand is dropping.

[bullypulpit]

Lets see, oil is dropping below $120 and the Dow is up over 200 points right now

Yep, nothing but bad economic news for the Dems today.

So BP, we have not started to drill, but the threat of drilling is making the price of oil drop. What do you think will happen when we do start drilling?

See above...Loser.

[red states rule]

See above...Loser.

I have a slight error in my post

The Dow was up over 300 points today as the price of oil fell and interest rates remained unchanged

Sorry to be the bearer of bad news BP

[April15]

Due ya think this may have something to do with the price?

Tuesday, August 5th, 2008

Dear Energy and Capital Reader,

Everyone, it seems, is hung up on lifting the ban on our Arctic oil reserves, OPEC's (and Mex-ico's) dwindling production rates, and Canada's oil sands.

"Smart Money," however, only follows the facts. Here are a few of them...

* Oil well drill results in the domestic Bakken formation continue to beat expectation, boosting North Dakota oil production more than 44% in less than three years.

* Production flow rates in the Bakken continue to beat expectation (with a more attractive quality of light, sweet crude).

* New drill sites in the Bakken continue to be announced, almost on a weekly basis.

Folks, there's only one way for the Bakken stocks in our $20 Trillion Report portfolio to go.

And that's up, up, up.

To find out just how easy it is to get your piece of the Bakken profits, simply read the following report.

Good investing,

Keith Kohl, Energy and Capital


20080701 344 1

20080701 344 2

20080701 344 quote




Dear reader,

Throughout the vast rangelands of North Dakota, residents are saying it's "easier to strike it rich from oil than by winning the lottery."

Take longtime resident Oscar Stohler, for example...

A retired cattle rancher who's lived modestly for 75-plus years, Stohler is now officially a millionaire.

Normally, the afternoon walk to his mailbox would have him flipping through an assortment of bills and your standard issue junk mail. But these days - as often as two or three times a month - he opens up an envelope filled with a staggering check.

Then there's John Bartelson, who gets a hefty royalty check, in the tens of thousands of dollars, from one of the oil companies drilling on his land.

And they're hardly alone.

According to Bruce Gjovig, director of the University of North Dakota's Center for Innovation, there may be as many as 2,000 new North Dakota millionaires within the next three to five years.

And that's only counting one small North Dakota county... where the population barely tops 6,000 residents.

That's one estimated millionaire for every three residents!

North Dakota, as it turns out, is on pace to set a state oil-production record this year.

And as the price of oil continues to skyrocket, the frenzy to set up drill operations here in North Dakota's Bakken formation is heating up.

In fact, oil & gas companies are already churning out successful drill result after drill result... and handing over huge oil royalty checks to property owners.

But everyday North Dakotans aren't the only ones getting rich...

You see, the Bakken formation is quickly becoming the country's hottest new oil play.

And early-adopting, "in-the-know" investors are cashing in... in a big, big way.

Here's how it's all going down...

It's a formation known as the Williston Basin, but is more commonly referred to as the "Bakken." And it stretches from Northern Montana, through a large part of North Dakota and into Canada.

(image)

[red states rule]

Due ya think this may have something to do with the price?

Tuesday, August 5th, 2008

Dear Energy and Capital Reader,

Everyone, it seems, is hung up on lifting the ban on our Arctic oil reserves, OPEC's (and Mex-ico's) dwindling production rates, and Canada's oil sands.

"Smart Money," however, only follows the facts. Here are a few of them...

* Oil well drill results in the domestic Bakken formation continue to beat expectation, boosting North Dakota oil production more than 44% in less than three years.

* Production flow rates in the Bakken continue to beat expectation (with a more attractive quality of light, sweet crude).

* New drill sites in the Bakken continue to be announced, almost on a weekly basis.

Folks, there's only one way for the Bakken stocks in our $20 Trillion Report portfolio to go.

And that's up, up, up.

To find out just how easy it is to get your piece of the Bakken profits, simply read the following report.

Good investing,

Keith Kohl, Energy and Capital


20080701 344 1

20080701 344 2

20080701 344 quote




Dear reader,

Throughout the vast rangelands of North Dakota, residents are saying it's "easier to strike it rich from oil than by winning the lottery."

Take longtime resident Oscar Stohler, for example...

A retired cattle rancher who's lived modestly for 75-plus years, Stohler is now officially a millionaire.

Normally, the afternoon walk to his mailbox would have him flipping through an assortment of bills and your standard issue junk mail. But these days - as often as two or three times a month - he opens up an envelope filled with a staggering check.

Then there's John Bartelson, who gets a hefty royalty check, in the tens of thousands of dollars, from one of the oil companies drilling on his land.

And they're hardly alone.

According to Bruce Gjovig, director of the University of North Dakota's Center for Innovation, there may be as many as 2,000 new North Dakota millionaires within the next three to five years.

And that's only counting one small North Dakota county... where the population barely tops 6,000 residents.

That's one estimated millionaire for every three residents!

North Dakota, as it turns out, is on pace to set a state oil-production record this year.

And as the price of oil continues to skyrocket, the frenzy to set up drill operations here in North Dakota's Bakken formation is heating up.

In fact, oil & gas companies are already churning out successful drill result after drill result... and handing over huge oil royalty checks to property owners.

But everyday North Dakotans aren't the only ones getting rich...

You see, the Bakken formation is quickly becoming the country's hottest new oil play.

And early-adopting, "in-the-know" investors are cashing in... in a big, big way.

Here's how it's all going down...

It's a formation known as the Williston Basin, but is more commonly referred to as the "Bakken." And it stretches from Northern Montana, through a large part of North Dakota and into Canada.

(image)

so you are upset investors are making money? Why do you think people invest in the first place?

[April15]

so you are upset investors are making money? Why do you think people invest in the first place?I posted the letter as a rebuttal for price changes today and in the last week or so.

[red states rule]

I posted the letter as a rebuttal for price changes today and in the last week or so.

We have over a 100 billion blls of oil sitting in the goround - so we should let it sit in the gorund and not drill?

[Yurt]

Sorry, but it's not going to scare OPEC one damn bit given that the first oil from any new off-shore drilling won't hit the market for nearly ten years. And then there's the issue of the quantity of oil produced being insufficient to make anything more than a blip on world oil supply, hence little impact on prices...either at the well head or the gas pump. Prices are dropping because demand is dropping.

you don't think prices are driving high/higher because oil is limited? you don't think the prices have anything to do with the fact that current oil production cannot meet demand, and that the oil being drilled and produced today will run out and this has investors and the like freaking out? if people knew that we had 500+ years of oil left...you don't think that would effect the market price?

[red states rule]

you don't think prices are driving high/higher because oil is limited? you don't think the prices have anything to do with the fact that current oil production cannot meet demand, and that the oil being drilled and produced today will run out and this has investors and the like freaking out? if people knew that we had 500+ years of oil left...you don't think that would effect the market price?

Have you seen the price of oil drop because the talk of drilling is getting serious?

Just think how much lower the price will go when the drilling begins

This is something Dems will fight tooth and nail to prevent

[mundame]

Have you seen the price of oil drop because the talk of drilling is getting serious?

Just think how much lower the price will go when the drilling begins



Well: there are a lot of speculations about why oil is dropping.

The current one today is that it's about America's quasi-recession or slowdown or whatever: less demand, so lower prices.

I'm unimpressed: Iran will manage to jack them up again, it does that every second week, on purpose. I canNOT be the only person noticing that.

[red states rule]

Well: there are a lot of speculations about why oil is dropping.

The current one today is that it's about America's quasi-recession or slowdown or whatever: less demand, so lower prices.

I'm unimpressed: Iran will manage to jack them up again, it does that every second week, on purpose. I canNOT be the only person noticing that.

We are not in recession. $4 seems to be where people wil drive less.

However, when pres Bush pushed for driling, and polls show more then 70% want drilling the price dropped like a rock

We have over 100 billion brls of oil sitting in the ground, that is why the price is droping

[PostmodernProphet]

I posted the letter as a rebuttal for price changes today and in the last week or so.

you tried to rebut the claim that talk of increased domestic production would lower the price of oil by providing evidence that increased domestic production is reducing the price of oil?.......whoa.......

what screws the pooch and tops it off is that it isn't taking ten years for production to commence in ND....it's been less than two years since the increased price of oil made it profitable....and shucks, people are profiting already......

[red states rule]

you tried to rebut the claim that talk of increased domestic production would lower the price of oil by providing evidence that increased domestic production is reducing the price of oil?.......whoa.......

what screws the pooch and tops it off is that it isn't taking ten years for production to commence in ND....it's been less than two years since the increased price of oil made it profitable....and shucks, people are profiting already......

Libs have singled out the Oil industry for making a profit. Yet many other companies have a much higher profit margin then Exxon

Libs rant about Exxon making $11 billion profit in the 2nd quarter - but ignore they paid over $30 billion in taxes in the 2nd quarter

[April15]

We have over a 100 billion blls of oil sitting in the goround - so we should let it sit in the gorund and not drill?Not at this time.

[red states rule]

Not at this time.

You need to stop listening to the liberal media April


Half of U.S. Oil is Off Limits to Drilling

According to CNS News, a report on the United States' oil reserves has been prepared for congress.

The good news: we have LOTS of oil. The bad news: myopic energy policy prevents us from using about half of it.

The report, which was produced at the request of Congress by the U.S. Department of Interior's Bureau of Land Management (BLM), said there are 279 million acres under federal management where oil and gas could potentially could be extracted.

More than half of it is totally off-limits to drillers.

"The total onshore resource is 31 billion barrels," said BLM's lead scientist Richard Watson, who authored the report. "Of that, 19 billion barrels are currently inaccessible or 62 percent. A little over 2 billion barrels, or 8 percent, is accessible under what we call standard lease terms."

If you add in the 85.9 billion barrels of oil that lie offshore, as determined by the Interior Department's Minerals Management Service, there are 117 billion barrels of oil on lands owned or managed by the U.S. government.

But all expansion of offshore oil recovery is currently off-limits.

Adding in what's available on privately held land, the figure rises to 139 billion barrels of oil, according to the government - more than the known oil reserves of Iran, Iraq, Russia, Nigeria or Venezuela, respectively.

http://www.dakotavoice.com/2008/06/half-of-us-oil-is-off-limits-to.html