GostHacked Posted March 8, 2011 Report Posted March 8, 2011 (edited) http://www.nextenergynews.com/news1/next-energy-news2.13s.html 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. Initially discovered in 1951. Was not feasible to extract until the price of oil goes up. http://en.wikipedia.org/wiki/Bakken_Formation http://www.canada.com/saskatoonstarphoenix/news/local/story.html?id=5f07f6b9-815f-4058-9e25-17fb0c61cd61 Looks like it spans into Seskatchewan. Saskatchewan could be sitting on 25 billion to 100 billion barrels of sweet, light crude oil in the Bakken formation in the southeast part of the province, according to industry and government estimates But this is funny. "We're excited about it," said Ed Dancsok of Saskatchewan Energy and Resources. "It's probably the biggest oil find in Saskatchewan since the 1950s." It's the biggest discovery since the 50s. But it was discovered in the 50s. Wait what? OH I guess discovered south of the border in the 50s, but the oil north of the border was not known? Edited March 8, 2011 by GostHacked Quote
Shady Posted March 8, 2011 Report Posted March 8, 2011 Great post! I only hope they're able to extract it. Environmentalists these days can be pretty ridgid in allowing anything like this to proceed. There's all kinds of oil all over North America to drill and use. But for some reason, environmental groups would rather us send our billions of dollars to the Middle East, in stead of keeping it right here at home. Not to mention the good paying manufacturing union jobs that would be created. But alas, those are sent the way of the Middle East as well. Quote
BubberMiley Posted March 9, 2011 Report Posted March 9, 2011 Great post! Environmentalists these days can be pretty ridgid in allowing anything like this to proceed. There's all kinds of oil all over North America to drill and use. I'm guessing you've never been west of Ontario. Quote "I think it's fun watching the waldick get all excited/knickers in a knot over something." -scribblet
M.Dancer Posted March 9, 2011 Report Posted March 9, 2011 http://www.nextenergynews.com/news1/next-energy-news2.13s.html I realize the PDAC conference is in full swing...but these cites are 3 and 4 years old. Anything ...you know....recent? Quote RIGHT of SOME, LEFT of OTHERS If it is a choice between them and us, I choose us
Michael Hardner Posted March 9, 2011 Report Posted March 9, 2011 Snopes on the Bakken Oil Reserves Quote Looks like someone has a new patronizing catch phrase ! Michael Hardner
GostHacked Posted March 9, 2011 Author Report Posted March 9, 2011 I realize the PDAC conference is in full swing...but these cites are 3 and 4 years old. Anything ...you know....recent? And the site has been known since the 50s. Got a point? Quote
M.Dancer Posted March 9, 2011 Report Posted March 9, 2011 And the site has been known since the 50s. Got a point? Indeed. Why hasn't it been hyped promoted touted reported on since 2008? Quote RIGHT of SOME, LEFT of OTHERS If it is a choice between them and us, I choose us
M.Dancer Posted March 9, 2011 Report Posted March 9, 2011 Snopes on the Bakken Oil Reserves Spoil my fun much? Quote RIGHT of SOME, LEFT of OTHERS If it is a choice between them and us, I choose us
GostHacked Posted March 9, 2011 Author Report Posted March 9, 2011 Indeed. Why hasn't it been hyped promoted touted reported on since 2008? I am sure there are events that have happened a couple years ago that you are not aware of. Thanks for posting. Quote
M.Dancer Posted March 9, 2011 Report Posted March 9, 2011 I am sure there are events that have happened a couple years ago that you are not aware of. Thanks for posting. And I'm sure there are wingnut sites you haven't found yet. Thanks for posting them when you do. Quote RIGHT of SOME, LEFT of OTHERS If it is a choice between them and us, I choose us
GostHacked Posted March 9, 2011 Author Report Posted March 9, 2011 And I'm sure there are wingnut sites you haven't found yet. Thanks for posting them when you do. All for you M. Dancer. All for you. Quote
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