How much oil supply does Alaska really hold?

Sarah Palin states that Alaska is the key to the US becoming energy self-sufficient. But how much oil can we reasonably expect Alaska to have?How much oil supply does Alaska really hold?
http://www.usgs.gov/newsroom/article.asp鈥?/a>





The U.S. Geological Service issued a report in April ('08) that only scientists and





oilmen knew was coming, but man was it big. It was a revised report (hadn't been





updated since '95) on how much oil was in this area of the western 2/3 of North





Dakota; western South Dakota; and extreme eastern Montana ... check THIS out:





The Bakken is the largest domestic oil discovery since Alaska's Prudhoe Bay, and has





the potential to eliminate all American dependence on foreign oil. The Energy





Information Administration (EIA) estimates it at 503 billion barrels. Even if just





10% of the oil is recoverable... at $107 a barrel, we're looking at a resource base





worth more than $5.3 trillion.





'When I first briefed legislators on this, you could practically see their jaws hit





the floor. They had no idea, says Terry Johnson, the Montana Legislature's financial





analyst.





'This sizable find is now the highest-producing onshore oil field found in the past





56 years,' reports The Pittsburgh Post Gazette. 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 North Dakota and into Canada. For years, U. S. oil





exploration has been considered a dead end. Even the 'Big Oil' companies gave up





searching for major oil wells decades ago. However, a recent technological





breakthrough has opened up the Bakken's massive reserves... and we now have access





of up to 500 billion barrels. And because this is light, sweet oil, those billions





of barrels will cost Americans just $16 PER BARREL!





%26gt;That's enough crude to fully fuel the American economy for 41 years straight.





2. And if THAT didn't throw you on the floor, then this next one should - because





it's from TWO YEARS AGO, people! U.S.Oil Discovery- Largest Reserve in the World!





Stansberry Report Online - 4/20/2006 Hidden 1,000 feet beneath the surface of the





Rocky Mountains lies the largest untapped oil reserve in the world is more than 2





TRILLION barrels. On August 8, 2005 President Bush mandated its extraction.





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:





%26gt;-8-times as much oil as Saudi Arabia





%26gt;-18-times as much oil as Iraq





%26gt;-21-times as much oil as Kuwait





%26gt;-22-times as much oil as Iran





%26gt;-500-times as much oil as Yemen- and it's all right here in the Western United States.





HOW can this BE? HOW can we NOT BE extracting this!? Because the democrats,





environmentalists and left wing republicans have blocked all efforts to help America





become independent of foreign oil.





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.





Don't think 'OPEC' will drop its price - even with this find? Think again! It's all





about the competitive marketplace, - it has to.





%26gt;----





Got your attention/ire up yet? Hope so! Now, while you're thinking about it ... and





hopefully P.O'd, do this:





3. Take 10 minutes and compose an e-mail; fax or good old-fashioned letter to all





your friends and associates. Alert them to the fact that democrats and 'liberal'





republicans have been and will continue to obstruct all plans to make America





independent of foreign oil. The only solution is to vote all democrats and Marxist





oriented out of office.





If you don't take a little time to do this, then you should stifle yourself the next





time you want to complain about gas prices .. because by doing NOTHING, you've





forfeited your right to complain.


How much oil supply does Alaska really hold?
I live in Alaska and sit on a watch dog comission that is involved with the pipeline and refinery.





Alaska has enough oil and natural gas to supply 100% of America's needs for 250 years. And enough low sulphur oil for 500 years.





When the pipeline was new in 1973 it pushed 2.8 million barrels - but thanks to a Democratic Congreess only 340,000 flow today because the original oil fields cannot be expanded.





Because of age, the pipleline is currently being upgraded - in a year or so it will be capable of pushing 4.9 million barrels a day.





The world has an 87 million barrel a day demand and only an 86 million barrel supply. If anyone can make up the missing 1 million the price of oil would collapse. Had Congress allowed more exploration we would be at $37 barrel oil.





Hope this helps.
There have been discoveries of oil near ANWR 1002 area in Alaska. A study conducted by the U.S. Geological Survey in 1998 shows in the results that ';The total quantity of technically recoverable oil within the entire assessment area is estimated to be between 5.7 and 16.0 Billion barrels, with a mean value of 10.4 billion barrels. Technically recoverable oil within the4 AWNR 1002 area is estimated to be between 4.3 and 11.8 billion barrels, with a mean value of 7.7 billion barrels.'; (pubs.usgs.gov/fs/fs-0028-01/fs-0028-01.鈥?Read this study to better inform yourself about oil in alaska. I am not sure how long this amount would last, but I am going to investigate how much oil is produced in foreign markets and do an unscientific comparrison. I'll let you know when I finally get it ';figured'; out





http://pubs.usgs.gov/fs/fs-0028-01/fs-00鈥?/a>





http://answers.yahoo.com/question/index?鈥?/a>
Not much compared to the global market. The Republican desire to tap into ANWR is not about reducing dependency on foreign oil. Its about profits in the short term.
alaska has enough oil under its soil to supply america for 200 years, and so does colorado.
Less than 1 percent of the world's oil supply, and most of it is already being pumped out.
It would supply 1% of our needs, though it wouldn't make any change to supply for another 10 years.
Enough to supply the US for two or three years if we could pump it that quickly.
I read it MAY hold 20 billion barrels.
No one really knows for sure.