Posted on 08/09/2011 7:56:30 AM PDT by Bigun
North Dakota and Montana have an estimated 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in an area known as the Bakken Formation.
A U.S. Geological Survey assessment, released April 10, shows a 25-fold increase in the amount of oil that can be recovered compared to the agency's 1995 estimate of 151 million barrels of oil.
(Excerpt) Read more at usgs.gov ...
I did not post this thread to discuss the ins and outs of how Exon Mobile conducts it's business so this will by my last post on that subject.
I find the liberal response to this phenomenon highly amusing.
It hasn’t yet hit the public mind, but the “energy crisis” we have all known and loved for the last 40 years has just gone bye-bye.
The only limitation on the amount of oil and gas produced in this country are environmental and other regulations. There is absolutely no reason North America could not be completely energy-independent in a decade.
And AFAIK it all was a result of private companies developing new technology in the pursuit of profit, rather than of a massive government program to “solve the energy crisis.”
Liberals have not yet admitted to themselves that the near-future world of energy scarcity they lust after has just gone away. The only way they’ll be able to maintain it is to artificially cause shortages through regulations, which is likely to cause a real backlash.
You are exactly right! It already is causing a real backlash and I intend to keep throwing fuel on that fire!
One would think if we would open up those areas for drilling and build new refiners it would help the economy
My dad dabbled in oil and gas leases and said the reason we slowed our production/consumption of our own oil/gas after WWII was because of the belief that one reason we were able to defeat Hitler was his troops ran out of fuel at critical times and we were able to get it. My dad said the idea was to save our resources and use other countries resources so in time of war we would not need outside sources. It sounds like a good idea- but then like everything else we ended up dependent on other countries anyway because of environmental whackos and now we don’t have enough refineries...so here we are.
None of this has even considered the high paying jobs oil production brings into the economy. Full production would put a nice dent in the unemployment rate.
All you need to do is to elect someone who will “Drill Baby, Drill”.
AMEN!
YEP! I’m all for it!
We need to tell the environmental whackos to sit down and shut up and we need to build refineries, open oil fields, coal mining, timber, reopen steel mills- get back to the basics and if we did all this and cut spending we could work our way out of debt using our natural resources. We also need to do away with many government regulations and fees that choke businesses so they will bring their companies back to the U.S. and hire workers.
We need to assess the government ownership of so much land, especially in the West and determine what land could be put into production of some sort- agriculture, mining, timber. That land needs to be sold or even traded for some land that we might want to protect for people to enjoy. As it is now the government owns far too much land, more than they can possibly manage which is why we have dopers taking over some areas for pot growing. Between marijuana farming and dangerous illegal traffic on a lot of government lands the public cannot use it now anyway.
Of course we also need to round up all the illegals and deport them, we are broke and don’t need the parasites. We need to also cut social programs to the point that even a minimum wage job will pay far more than anyone can get on the dole to get our citizen slackers back to work.
There are ways to get this country back on its feet, we will have to stand up to the politicians and whackos that put us where we are today.
There is indeed much that can be done but in order to do any of it requires that we unelect the current idiot in chief!
I grew up in the SW, and most of the male adults on my mother’s side worked in the oil industry.
When I started college in the mid 1950’s, I had intended to become a geologist and work for one of those companies.
In college, what I heard in the basic geology courses was there was no new oil fields in America and few in the rest of the world. We would probably be wasting our time becoming geologists.
Then in the basic science course we were brain washed that all oil came from dinosaurs and other life forms and the supply of that was rapidly disappearing. That apparently had the same hard science as Gorebal Warming.
Coming from a non rich family, I opted out of being a geologist.
50 years later we are still finding new oil supplies/potential in America, the Gulf of Mexico, Canada and Alaska.
For at least 4 decades the liberals when they controlled congress and the executive office have enacted all types of bs legal barriers to prevent us from discovering and drilling for oil in America, the Gulf of Mexico, Canada and Alaska. They have limited pipelines and construction of new refineries for decades.
In the meantime the Opecker Princes have grown richer and richer. We have been involved in two+ hot wars to protect oil from so called friendlies in the Middle East.
Isn’t extracting oil from shale very expensive? I’ve read that it takes a lot of power to do it.
Ping
My numbers are correct. check your math.
“My numbers are correct. check your math.”
You are correct.
I guess I should run for congress. Any number with more than 6 zeros becomes a puzzle for me!:)
“My numbers are correct. check your math.”
You are correct.
I guess I should run for congress. Any number with more than 6 zeros becomes a puzzle for me!:)
Scraping boot toe in the dirt and with eyes downcast in an absolutely disgusting display of false modesty and trying to give the impression of an embarrassed bumpkin.
We are on the same team. So it is okay to “sible” as my two sons tell us.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.