Awesome news, it appears that somebody out there, if they haven’t been listening to me, has at least had the smarts to figure it out for themselves- not only are oil companies now flocking to the Bakken to tap the veritable ocean of black stuff under North Dakota, but in South Dakota they’re building the first new refinery since 1976. (more…)
Quoted from http://ncwatch.typepad.com/media/2008/04/peak-oil-update.html:
NC Media Watch: Peak Oil Update, 10x increase in US reserves
April 08, 2008
Peak Oil Update, 10x increase in US reserves
Russ Steele
We have heard a lot about the decline of oil reserves, which are estimates based on current technologies. With new technologies and higher prices, new reserves come on line. Consider this from the Next Energy News
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.
More on the North Dakota Oil find, this one from March 17th on Kiplinger.com- still have not found anything in the big news media about this (unless you count Rush Limbaugh…)
Quoted from http://www.kiplinger.com/businessresource/forecast/archive/
The_U.S._Poised_to_hit_New_Oil_Gusher_080317.html:
The U.S. Is Poised to Hit a New Oil Gusher - Kiplinger.com
A new black gold rush is under way, this time in North Dakota. The potential payoff is huge — up to 100 billion barrels of oil. That’s twice the size of Alaska’s reserves and potentially enough to meet all U.S. oil needs for two decades.
Until now, the obstacles to production seemed overwhelming. The crude oil is locked away in rocks that are buried miles underground in the Bakken Play, a field that stretches into Montana and Saskatchewan, Canada.
I’ll be posting more of this as I find it.
Why is nobody talking about this?
I was doing a search on U.S. oil reserves while researching another post I was planning to do, and this was one of the first results that popped up in Google. What I’d like to know is, if we’re sitting on something this huge, an oil reserve that puts us on par with Saudi Arabia as an oil-producing nation, something which could end American dependence on foreign oil, lower gas prices to next-to-nothing, and possibly bolster what many view to be an economy that has been sinking more and more towards “Great Depression” proportions, (the list goes on and on…), WHY THE HELL HASN’T THERE BEEN ANY COVERGE FROM THE MAJOR NEWS MEDIA? Before I go off any further, please read on below…
Quoted from http://www.nextenergynews.com/news1/next-energy-news2.13s.html:
Massive Oil Deposit Could Increase US reserves by 10x
Massive Oil Deposit Could Increase US reserves by 10x
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.
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