A fully developed Bakken holds more than 24 billion barrels of oil reserves. This figure would instantaneously double America’s proven oil reserves.
Austin, TX (PRWEB) January 14, 2012
A new report from Absolute Rights, the conservative think tank in Austin, Texas, seeks to bring more attention to the untapped oil reserves in the Bakken oil fields in North Dakota. According to Josh Loposer of Absolute Rights, “America has huge oil reserves that we are not tapping into, and we just want to discuss the issue openly and honestly. Right now America is dependent on foreign oil from the middle east, and we don't have to be.”
The report Bill Of Wrongs from the think tank Absolute Rights says that the Bakken oil fields in North Dakota are a key to economic recovery for the U.S. The report says: “According to the Department of Energy, North Dakota will soon surpass California in oil production. Harold Hamm discovered the Bakken fields of Montana and North Dakota and South Dakota. Extractions from Bakken have already moved the U.S. into third place among the world’s oil producing nations.
The Wall Street Journal asked Mr. Hamm about the Bakken fields, and wrote, "How much oil does Bakken have? The official estimate of the U.S. Geological Survey a few years ago was between four and five billion barrels. Mr. Hamm disagrees and estimates that the entire field, fully developed, in Bakken is 24 billion barrels. If he's right, that'll double America's proven oil reserves. According to Department of Energy data, North Dakota is on pace to surpass California in oil production in the next few years”
According to Mr. Loposer, Harold Hamm grew up in poverty and worked hard in the Oklahoma oil fields, also inventing some key technology that moved the oil industry forward. Mr. Loposer says, “Recently, Hamm visited Washington D.C. To speak to President Obama about the fields of Bakken and their enormous potential. Harold Hamm knows the energy business better than anyone. Since 2005, America has experienced a full-fledged revolution in oil and natural gas, America’s fastest growing manufacturing sector. There is a one word explanation for this: Bakken.“
For more information, please download the free report Bill of Wrongs.
About Absolute Rights LLC
Absolute Rights publishes information on The Bill of Rights, constitutional rights, liberty, survival methods and important information regarding civil liberties.