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#1
03-21-2008, 12:25 PM
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American oil field?
Somebody sent me this today. Have any of you seen this before?
Huge Oil Field, Right Here in US? 21-Mar-2008 When we think of oil reserves in the US, we think about coal. But it turns out that America may be sitting on a huge, 200 billion barrel oil field that has gone unnoticed and could make us energy independent. New drilling technology could make it possible to pump the oil from the Bakken Formation, which covers North Dakota and parts of South Dakota and Montana. According to Next Energy News, "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." Maybe this is why the Middle East is investing in solar energy!
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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century  OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles 
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#2
03-21-2008, 12:44 PM
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..that's a 14 day supply. Too bad we have been guzzling our stuff for all these years.
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80 300SD (129k mi) 82 240D stick (193k mi)77 240D auto - stick to be (153k mi) 85 380SL (145k mi) 89 BMW 535i 82 Diesel Rabbit Pickup (374k mi) 91 Jetta IDI Diesel (155k mi) 81 VW Rabbit Convertible Diesel 70 Triumph Spitfire Mk III (63kmi)66 Triumph TR4a IRS (90k mi)67 Ford F-100 (??)
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#3
03-21-2008, 12:44 PM
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How is that a 14 day supply?
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1984 300SD Orient Red/ Palomino 1989 560SEC 2016 Mazda 6 6 speed manual 1995 Ford F-150 reg cab 4.9 5speed manual
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#4
03-21-2008, 12:49 PM
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ooops- my bad I thought I saw 14 billion per day imported but its million. So what is that then 14x1000 = 3.5 years. that helps if we can get to it.
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80 300SD (129k mi) 82 240D stick (193k mi)77 240D auto - stick to be (153k mi) 85 380SL (145k mi) 89 BMW 535i 82 Diesel Rabbit Pickup (374k mi) 91 Jetta IDI Diesel (155k mi) 81 VW Rabbit Convertible Diesel 70 Triumph Spitfire Mk III (63kmi)66 Triumph TR4a IRS (90k mi)67 Ford F-100 (??)
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#6
03-21-2008, 12:47 PM
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Quote:
__________________
" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles
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#7
03-21-2008, 12:49 PM
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it says 200 billion barrels. at 14 million a day thats more than 14 days isn't it?
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1984 300SD Orient Red/ Palomino 1989 560SEC 2016 Mazda 6 6 speed manual 1995 Ford F-150 reg cab 4.9 5speed manual
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#8
03-21-2008, 12:50 PM
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isnt it 40 years
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1984 300SD Orient Red/ Palomino 1989 560SEC 2016 Mazda 6 6 speed manual 1995 Ford F-150 reg cab 4.9 5speed manual
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#9
03-21-2008, 01:09 PM
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The production is small now, but I've read that the Bakken Oil Reserve in the Williston Basin has as much oil as the Alaska North Slope.
I read an article about a week ago, which says about the same as D8's first post. http://www.billingsgazette.net/articles/2007/06/22/news/state/80-oil.txt The USGS will issue an updated report in April. As Howie says...google it. 
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#10
03-21-2008, 02:49 PM
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Quote:
Quote:
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Never a dull moment at Berry Hill Farm.
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#11
03-21-2008, 12:51 PM
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Quote:
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#13
03-21-2008, 01:01 PM
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Quote:
Math was never your forte.
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#14
03-21-2008, 01:37 PM
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Quote:
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MB-less
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#15
03-21-2008, 01:46 PM
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Don't everybody go crazy, yet. The Bakken has been around for a long time and a lot of people are trying to figure it out from a technology standpoint. That article is a bit misleading, 200 Billion could be the oil in place number, which you will never see, far from it. It could be somebodys estimate of the recoverable reserves, but the write did not know enough to ask the right questions.
Either way, shale production is tough to make happen. Horizontal drilling is picking up in the bakken and is helping out a lot. But shales are tight, require lots of stimulation, and produce at low rates. So even if there is 200 Billion recoverable, it will take a LOOOOONG time to develop it and produce it. As a FYI, oil reservoirs that produce from depletion drive (basically like a shrinking balloon as pressure is released) have a recovery efficiency of 10-15% MAX. Very strong water drives and effective water flooding can increase that to about 40-50%. I do not know the exact number on the Bakken but I imagine it is pretty low. A good analogy are various tar sands, like Athabasca in Canada. There are billions of barrels but you can't get them out due to the nature of the oil. Those are worse case, you have to inject steam to make the gunk flow at all. Lots of heavy oil in California as well, requiring steam flooding. And low quality oil does not get you $100. There are major price hits due to quality, location, transportation, etc.
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