Massive Oil Deposit

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 at $20-$40 a barrel.


http://www.nextenerg...-news2.13s.html

Keep doing whatever to lower the crude price now.

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 at $20-$40 a barrel.


http://www.nextenerg...-news2.13s.html

Then we use the oil as fuel to run our cars? People need to change their mindset, so what if we have more oil, we just burn it up instead of trying to make it last as long as possible, as it is useful in a lot of other ways. We need to start to make it illegal to use oil to power our vehicles as it is a precious commodity.
Rick

has largely gone unnoticed

That's pretty funny. That field has been around for a lonnnggg time.

J

Then we use the oil as fuel to run our cars? People need to change their mindset, so what if we have more oil, we just burn it up instead of trying to make it last as long as possible, as it is useful in a lot of other ways. We need to start to make it illegal to use oil to power our vehicles as it is a precious commodity.
Rick

What would you suggest?

BTW: One 42gal gallon barrel of crude oil yields:

19.5 gallons of gasoline
9.2 gallons of distillate fuel oil (diesel fuel and home-heating oil)
4.1 gallons of kerosene-type jet fuel
2.3 gallons of residual fuel oil (used in industry and marine transportation and for election power generation)
1.9 gallons liquefied refinery gases
1.9 gallons still gas
1.8 gallons coke
1.3 gallons asphalt and road oil
1.2 gallons petrochemical feedstock
0.5 gallons lubricants
0.2 gallons kerosene
0.3 gallons other (don't ask me, I have no clue )

* The total volume of products made is 2.2 gallons greater than the original 42 gallons of crude oil, representing a processing gain.

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 at $20-$40 a barrel.


http://www.nextenerg...-news2.13s.html

Oil Shale
It may be unconventional recovery and oil shale.

"What would you suggest?" I would suggest we take the import tax off sugar, import it-and start producing ethanol out of sugar at a cost of roughly $1.35 a gallon-instead of using corn. Brazil is already doing it, and exporting their oil-maybe a few less lobyists there?

Then we use the oil as fuel to run our cars? People need to change their mindset, so what if we have more oil, we just burn it up instead of trying to make it last as long as possible, as it is useful in a lot of other ways. We need to start to make it illegal to use oil to power our vehicles as it is a precious commodity.
Rick

What would you suggest?

BTW: One 42gal gallon barrel of crude oil yields:

19.5 gallons of gasoline
9.2 gallons of distillate fuel oil (diesel fuel and home-heating oil)
4.1 gallons of kerosene-type jet fuel
2.3 gallons of residual fuel oil (used in industry and marine transportation and for election power generation)
1.9 gallons liquefied refinery gases
1.9 gallons still gas
1.8 gallons coke
1.3 gallons asphalt and road oil
1.2 gallons petrochemical feedstock
0.5 gallons lubricants
0.2 gallons kerosene
0.3 gallons other (don't ask me, I have no clue )

* The total volume of products made is 2.2 gallons greater than the original 42 gallons of crude oil, representing a processing gain.

Hydrogen fuel of course, they already have some some hydrogen fueling stations in Europe, hydrogen fuel tanks are safer than gasoline ones from what I have heard so far, bottom line is oil will run out, and we need to start looking at that seriously from here as the population growth is not slowing down.
Rick

earth hour! forget hydrogen, so far its inefficient, like ethanol and oil sands - takes more energy in than energy out, and is only done to fuel........dah.....Automobiles! Ethanol is a real disaster - it will deplete our water tables and pollute aquifers with fertilizer toxins so we will have no water left, let alone no gas! gasoline has been c. twice as expensive in europe as in the USA for at least one or two decades... I suggest conservation smaller cars, smaller refrigerators, less trips to the store etc - less suburban sprawl - small and more closely built semirural comunnities - also conserves soil etc lower winter indoor temperatures in winter, less AC in summer and more mass transit... Ditto Rick, as long as we do not change the mind set and change our habits, we will not win we can try to develop waste biofuels and more wind - the Iraq war budget could have made this country electric energy independent if it had been invested in windmills! and we need more jobs, not just "job education"

Then we use the oil as fuel to run our cars? People need to change their mindset, so what if we have more oil, we just burn it up instead of trying to make it last as long as possible, as it is useful in a lot of other ways. We need to start to make it illegal to use oil to power our vehicles as it is a precious commodity.
Rick

Using oil to run cars is an excellent use for oil. It boosts economic activity, and gives freedom of
mobility to individuals. What is the alternative to cars? Bicycles? Horse & Buggy? My folks back
home had a horse and buggy and it was no fun and a big hassle.

The reason there is no serious investment in alternate energy is that there is as much as 300 years
worth of oil still in the ground. How many similar undiscovered oil fields are out there like the subject
of this thread, the Dakota fields? 75% of earth is covered by water and it is largely unexplored for
energy sources.

Therefore I am against crawling into a shell, and be afraid to use the natural resources we have.
Heck, we don't need crude oil even for lubrication. The synthetic lubricants I use in my car are
far superior.

Do you have any idea how many jobs will be lost if we made it illegal to "burn up" oil?
I refuse to go back to the stone age.