THIS WAS THE PLAIN TRUTH's 2011 Headline- Once again, we were ahead of our time as by 2018 The USA is the largest producer of oil again!
Harold Hamm is more than a little disappointed in President Obama.
He discovered the Bakken oil fields of Montana and North Dakota that have pushed the U.S. into third place among world oil producers and could yield, Hamm says, 24 billion barrels:
If he’s right, that’ll double America’s proven oil reserves. “Bakken is almost twice as big as the oil reserve in Prudhoe Bay, Alaska,” he continues. According to Department of Energy data, North Dakota is on pace to surpass California in oil production in the next few years. Mr. Hamm explains over lunch in Washington, D.C., that the more his company drills, the more oil it finds. Continental Resources has seen its “proved reserves” of oil and natural gas (mostly in North Dakota) skyrocket to 421 million barrels this summer from 118 million barrels in 2006.
“We expect our reserves and production to triple over the next five years.” And for those who think this oil find is only making Mr. Hamm rich, he notes that today in America “there are 10 million royalty owners across the country” who receive payments for the oil drilled on their land. “The wealth is being widely shared.”