92% of Bakken Oil Untapped
October 31, 2012
Keep in mind that, just a few short years ago, there were “peak oil” theories which indicated that we would run out of oil. Back in the 1970s and 1980s, some were predicting that we would run out of oil in our lifetimes.
But, like the agriculture Malthusians before them, they were wrong. Because they didn’t take into account the ingenuity and inventiveness of mankind. We are constantly inventing new and better ways of doing things. That’s what fracking was for oil and gas production. A new and better way of tapping into our natural resources.
With the prices and technology of the 70s and 80s, we would not be having the increase of production today.