Posted on 03/28/2008 9:59:13 AM PDT by a real Sheila
America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant.
In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation that covers North Dakota and portions of South Dakota and Montana. With new horizontal drilling technology it is believed that from 175 to 500 billion barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951. The USGS did an initial study back in 1999 that estimated 400 billion recoverable barrels were present but with prices bottoming out at $10 a barrel back then the report was dismissed because of the higher cost of horizontal drilling techniques that would be needed, estimated
(Excerpt) Read more at nextenergynews.com ...
—bflr—
It wouldn’t matter any way. The stupid libs won’t let us get near it.
Sorry, we can’t do this. It would disturb the habitat of the Swahili Bucktoothed Titmouse.
Give it up. The Green Idiots won’t ever allow any additional drilling in the US even if there’s enough for energy independence for the next 500 years.
We’ll ask the expert.
You been holding out on us, Dog?
I have little doubt that we sit upon more oil than we are aware of. Whether it is that much, who knows.
God if this is true...i will laugh so much i think i will get sick...what i would give to see the expression on the faces of the saudis, middle east and every tin pot dictator world wide...
Too bad we won’t see anything from this for decades. It would be great top thumb our noses at OPEC once and for all.
Sure. Every time the price shoots up a little higher, somebody has this sure fire find of a huge oil reserve right under our feet or abiotic oil or a water powered car. The reality is we are going to pay higher and higher prices for oil until we give it a competitor.
Don’t they have moose’s in North Dakota? Cant drill there. /S
Yes, and this is at least the 10th thread posted on this very topic in the last few weeks.
typical white oilmen
I have heard of this and am sure it is true. I have no confidence that it will ever be used, however.
It does not matter. Democrats and environmental wackos will not allow us to remove our dependency on others for oil....
usually takes more energy (hot water) to heat the stuff up and get it moving than is economically justified. It’s the same as trying to get the bacon grease down the trap. Hot water makes the job easy. Otherwise, pretty much impossible. Cold water (which is the case ambiently in N Dakota) = locked to whatever it’s sticking to. Please play again. The ME is wonderful for oil because it’s hotter than hell :).
My only fear is the envirowackos! The largest buffalo herd in the US lives in this area. The prarie dog population in the Roosevelt National park needs our protection too. Maybe the deer and the antelope will trump this valuable resource!
sarc off!
Yes, I’ve read this before. I also have tried to find some way to invest in the potential oil production.
I think this land belongs to the US Government. They knew all along.
http://forums.stockfetcher.com/sfforums/?q=view&fid=1001&tid=52177&qrid=
Joe is the most knowledgeable one I know on this field. He has been involved there for a while.
Ping for his input.
Sorry.
Did a search on
oil, U.S. and turned up
NOTHING.
Isn’t that area known as The Bad Lands? The Libs will have to pass a law renaming it The Pristine lands.
Most of the east coast states have prohibited even looking so “who knows?” is correct.
Oil, oil everwhere,
Nor any drop to drill.
There’s over 2 trillion barrels sitting 175 miles off the gulf coast we can’t get to so there’s no way we’ll get to 500 billion dab smack on US soil.
Extraction costs become more recoverable as the per barrel price increases.
This is being hyped by $100/bbl but what will the producers do when the oil hits the market and the price goes down? Same thing they’ve down in the past, shut it in and wait for higher prices.
Dang!
Can’t they just relocate the buffalo herd to Ted Turner’s ranch in Montana? :-)
Your in-laws better watch out.
The govt will declare their farm “blighted” and take it right out from under them.
Here's the answer: repeal all gas tax, but add one: a $100/ barrel tariff on all imported oil.
I hope there are no polar bears in North Dakota.
Amen to that, seems to me we have an oil reserve up north that can't be used, just add this to the pile...
North and South Dakota, as well as eastern Montana is where this is reasoned to be.
I’ve been there. It ain’t pretty. Fact is mostly it sucks. It is depressed and could certainly use the jobs pulling oil out the ground there.
But you are probably right, if it is there the tree hugging greenpeace liberals from N.Y. and Rhode Island won’t allow us to get it.
All these negative comments will come true if we allow the libs to have their way here...I for one am tired of rolling over for these assets...
Actually, I think that a credible threat of real and massive US domestic oil exploration will cause OPEC to pump up production and drive down the price like a rock. I just don’t understand why we don’t do it.
First thing Obama or Hillary will do as president is declare it a national park/wildlife reserve.
Especially after President Hussein bans all combustible engines to solve the Global Warming problem in the first 100 days.
I wasn’t being a critic. Just pointing it out in case you might wonder why you won’t be getting a lot of posts on what is otherwise a very interesting topic.
It’s probably true, but the environmental whackos will find some reason to prevent any drilling. Any endangered mice in that area?
Just think of the CARBON! We can never use this oil! It’s for the children!
They're already starting to drill. The question is how much of the oil there is recoverable. Estimates vary widely between 1 and 50%, but remember that new technology is constantly being developed, including techniques to artificially fracture the rock. This is where the various "peak oil" theories have failed. They didn't account for the recoverable amount of oil increasing as new technology is developed.
There is a lot of oil work going on up there. A lot of pipeline work intended both to increase the oil flow from Canada and from North Dakota itself.
And, some of you saw the article about the proposed new refinery in South Dakota the other day.
I don’t know if the report is true or not, but it is sure interesting. Nothing would please me more if, in the near future, we could tell the Middle Eastern countries and other oil producers to go soak there heads. “Jihad” would dry up within 5 years if the money flow stopped.
Also interesting is a theory I heard about which questions our long held assumptions (going back to the 1700’s) concerning the origin of petroleum under the earth’s surface. It seems the idea that oil is produced from the decomposed remains of organic life from millions of years ago is being doubted by some people. Oil is being found at depths within the earth which are far, far below any level containing any fossil record.
Some people think we may have been vastly mistaken in our assumptions regarding the original source of the oil and we actually don’t know where it came from. If so, it may be that oil is produced by a process which is still on-going, and it may not be an exhaustible resource at all.
Which govt official(s) and what govt ACT does it take to tell the tree huggers to GO TO HELL and go ahead and open up the area for oil drilling and exploration?
I’ve always thought that ultimately the government does what the HELL it wants, especially when matters of money and national security are involved. The government has so often done as it pleases when it comes to taking away folks land and property to use for “the greater good.” Why the heck can’t this land be explored and drilled regardless of the “greenie weenies?”
They will get the last laugh when the Left blocks all attempts to drill for this oil.
Sympathetic judges put a stop to any attempt to secure our country.
huh huh huh, you said, “titmouse”....
Looks like my mothers family dumped the 10,000 acre wheat farm in ND in 1923 and came to California a little too quick!
Remember what Bill Clinton did with the largest coal field in the country.(Utah)
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