I haven't seen anyone mention the new oil discovery in the bakken oil fields of the dakota's and montana.Estimates range from 100 billion to 500 billion barrels of oil there.This could produce enough oil to make us energy independent for decades. Looks like the Russians may have been correct about oil.While the United States has hung on to the belief that oil is a fossil fuel since the mid 1800's ,the Russians have always thought that oil was Abiotic ,and that the earth produces oil naturally at the core and pushes it upward.While the United States digs shallow and gets the easy to reach oil,then looks elsewhere,the Russians have always gone by the philosophy of "if you cant find it ,dig deeper.
[FONT=Verdana, Arial, Helvetica, sans-serif]Massive Oil Deposit Could Increase US reserves by 10x[/FONT] [FONT=Verdana, Arial, Helvetica, sans-serif][SIZE=-1]America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America [COLOR=blue! important][FONT=Verdana, Arial, Helvetica, sans-serif][COLOR=blue! important][FONT=Verdana, Arial, Helvetica, sans-serif]Energy[/FONT][/FONT][/COLOR] 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.[/COLOR][/SIZE][/FONT] [FONT=Verdana, Arial, Helvetica, sans-serif][SIZE=-1]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 at $20-$40 a barrel. [/SIZE][/FONT] [FONT=Verdana, Arial, Helvetica, sans-serif][SIZE=-1]It was not until 2007, when EOG Resources of Texas started a frenzy when they drilled a single well in Parshal N.D. that is expected to yield 700,000 barrels of oil that real excitement and money started to flow in North Dakota. Marathon Oil is [COLOR=blue! important][FONT=Verdana, Arial, Helvetica, sans-serif][COLOR=blue! important][FONT=Verdana, Arial, Helvetica, sans-serif]investing[/FONT][/FONT][/COLOR] $1.5 billion and drilling 300 new wells in what is expected to be one of the greatest booms in Oil discovery since Oil was discovered in Saudi Arabia in 1938. [/COLOR][/SIZE][/FONT] [FONT=Verdana, Arial, Helvetica, sans-serif][SIZE=-1]The US imported about 14 million barrels of Oil per day in 2007 , which means US consumers sent about $340 Billion Dollars over seas building palaces in Dubai and propping up unfriendly regimes around the World, if 200 billion barrels of oil at $90 a barrel are recovered in the high plains the added wealth to the US economy would be $18 Trillion Dollars which would go a long way in stabilizing the US trade deficit and could cut the cost of oil in half in the long run.[/SIZE][/FONT]
Kedo, you don't really believe the lunatic environmentalists will either allow us to drill for it, or stand idly by while the refineries necessary to make going get all that oil worthwhile are permitted, do you?
Yeah, Al Gore will fly all over the U.S. in his GSIV preaching about the damned carbon credits. E.A.D. AL Gore. Let Marathon, Halliburton and whoever else is interested set up shop and go to town. Does anyone even know someone from the dakotas? Think about it?
Living in the Dakotas, especially North Dakota is insane. Anyone who voluntarily moves there(military doesn't count) might do well with a psychiatric evaluation. Sounds like a perfect place to find oil. It would be nice if we could tap this oil to reduce the gas pinch, while working to develop viable alternative energy, but we probably won't.
That's what Bush said about ANWR. Nobody lives there. It is just a sheet of ice. But the tree huggers, Democrats and a few spineless moderate Republicans acted like we would destroy the planet if we drilled there. Compared to ANWR, North Dakota is a paradise.
Oil is universally accepted as a fossil fuel no matter how deep it is found. There is no evidence to date of abiogenic petroleum (liquid crude oil and long-chain hydrocarbon compounds) formed abiogenically within the crust, which is the essential prediction of the abiogenic petroleum theory.
