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.
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=
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