More on Bakken Oil

[OntarioVanMan]

The Bakken formation in the Williston Basin stretches from northern Montana, through North Dakota, laps down into the northwestern corner of South Dakota and extends up into Canada. The federal government has confirmed that the Bakken is a huge oil formation and the Energy Information Administration (EIA) has just issued this press release: "...with new drilling and completion technology taken into account, the resource base for the entire formation is potentially much larger. A study provides estimates ranging up to 503 billion barrels of potential resources in place". That means the Bakken oil field is even bigger than Saudi Arabia’s richest oilfield!

It's the largest domestic oil discovery since Alaska's Prudhoe Bay and has the potential to eliminate all American dependence on foreign oil using horizontal drilling to access the black gold. For those of you with internet, you might want to read about it here:The $20 Trillion Report

 

[dieseldiva]

The northwestern corner of South Dakota?? Isn't that where YOU live Ken???

 

[OntarioVanMan]

The northwestern corner of South Dakota?? Isn't that where YOU live Ken???

Yep....40 miles from N. Dakota and about 70 from Montana!!

Actually we own a few acres right on the border..called The White Buttes named after my father-in law..Mr White.

 

[dieseldiva]

COME AND LISTEN TO A STORY BOUT A MAN NAMED KEN.........

 

[OntarioVanMan]

who could barely keep his family fed....

 

[OntarioVanMan]

USGS report as of April 10th...not quite 500 million barrels but enough to make a difference...

http://pubs.usgs.gov/fs/2008/3021/pdf/FS08-3021_508.pdf

 

[nightcreacher]

but they are only drilling cause oil is going over 100 bucks a barrel,there is no shortage,its the speculators,and decreasing value of the dollar.I want to take my vote back.And I thought Clinton screwed us,lol

 

[OntarioVanMan]

but they are only drilling cause oil is going over 100 bucks a barrel,there is no shortage,its the speculators,and decreasing value of the dollar.I want to take my vote back.And I thought Clinton screwed us,lol

In Canada no one drilled in the Hybernia oil fields either...till money could be made

No matter though...any oil is good oil....maybe one day North America will detach the oil from the world market and upset a few people. especially the Arabs. It would be more a psychological tool.

The speculators couldn't use all the excuese they do now!!

 

[greg334]

The speculators couldn't use all the excuese they do now!!

That's not true.

The oil will be put on the open market just like it was before the second world war. Speculation will go on and even if we are Oil Independent, the price of oil will remain high until the value of the dollar rises up.

The fallacy of any domestic source relieving us of any high prices quickly is just that, a fallacy. The fact is that we do export oil and the problems are not just about supply, there is no clear path to oil independence, a key problem which is also driving up the price of oil.

A lot of the Alaskan oil still goes over ends up in Japan form where ever they refine it at and we don't demand that we drill in the gulf, which if we can drill in that oil field alone would give a clear indication we are getting serious about our oil supplies. The same goes for ANWR, forget the environment the earth has been here for millions of years and man can't do the damage in 200 years like one volcano can do one week.

Now what I am really getting bothered by is a lack of concern by the congress on this issue. We the people have to make a decision, a serious decision and if we want to see a serious crash in four years, then we can do nothing. but We the people have to change things, re-electing people in congress is wrong because they have done nothing, electing a socialist or a fascist is also wrong because this will lead us down a path of destroying the country.

The real question is if we want to try to achieve an impossible goal of stopping global warming by forcing our economy into the abyss or do we want to become a country that can lead again and allow us to evolve into a cleaner country without destroying us?

We first have to fix the problems we have with energy in order to move forward to new energy.

The last thing I am going to babble about is the charter for the EPA, it has to be changed to reflect the condition the country is in. It does not allow the EPA to take in consideration any economic impact of its rules and policies. I think that it should, basing this premise that the economic condition of the country is directly related to the national security of it. When it was written, this type of economy was never ever thought of and the economy was much much different and the clause was put in there to prevent congress from meddling with the EPA on their rules and policies.

 

[OntarioVanMan]

Greg said...
"The last thing I am going to babble about is the charter for the EPA, it has to be changed to reflect the condition the country is in. It does not allow the EPA to take in consideration any economic impact of its rules and policies. I think that it should, basing this premise that the economic condition of the country is directly related to the national security of it. When it was written, this type of economy was never ever thought of and the economy was much much different and the clause was put in there to prevent congress from meddling with the EPA on their rules and policies."

Your correct...In Ontario they have Nanicoke Power coal fired but the most pwerful unit cept for nuclear...it's been the mainstay of Ontario power...it can be shutdown and restarted to full tilt in just hours...BUT it's a huge polluter...They just can't seem to shut it down..it workd too darned well. The tree huggers have tried and tried...but it's a tool of wealth for the economy. Commerce is more important.