[cicero2k]

Then, there's North Dakota ~ latest government estimate of the value of the recoverable hydrocarbons there is pretty close to 1000 trillion dollars. Our national debt, at 17 trillion, is a small fraction of that.

Do you have a link?

At $100 per barrel ND has 10 trillion barrels equivalent?

Last I heard 10 billion barrels was optomistic.

But the point is one I would have made comparing us to Europe. As in last century, we produce cheap energy and Europe does not. The outcome will be similar.

[muawiyah]

They just reassessed it ~ however the basic Bakken oil cache is about 167 billion barrels of oil (equivalent) ~ although the currently used technology will ony tap a part of that ~ conceivable technology for recovery may rise to 50%, and in the future there could be higher levels.

But that's just one area. There are several areas. Some easier to access than others.

Assuming oil stays at or above $100 per barrel, Bakken alone is conceivably worth $16,700 billion ~

The EU"s only hope is fusion.

Then, there's gas ~ and looking for total valuation is tough ~ that situation is growing so fast we'll be back to using oil for lubrication and plastic feed stocks. (I'll recheck my earlier numbers, may have jumped a digit ~ but $16.7 trillion is a large number ~ difficult to work with on the fly)>