fff said:Maybe. No one knows how much oil is on the north slope of Alaska. There's speculation, but the oil companies that have drilled test wells there aren't pushing for the right to drill more. That suggests to me that they didn't find a lot of oil. It will costs billions of dollars to get in, drill, and transport oil out. Oil companies aren't going to gamble on that until they know for sure what the payoff will be. They do want to drill offshore. They know there's oil there, what it will cost to get it, transport and process it.
There are other sources of oil in the country, oil shale, for example. It can and should be developed, but the oil companies will fight tooth and nail to keep it off the market unless they own it.
Oldtimer said:Yesterday the folks I heard on the radio were saying a range bbetween 1.9 B to 16 Billion barrels of oil.....
The Bakken find in ND and MT is bigger than that....
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.
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.
It was not until 2007, when EOG Resources of Texas started a frenzy when they drilled a single well in Parshal N.D. that is expected to yield 700,000 barrels of oil that real excitement and money started to flow in North Dakota. Marathon Oil is investing $1.5 billion and drilling 300 new wells in what is expected to be one of the greatest booms in Oil discovery since Oil was discovered in Saudi Arabia in 1938.
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.
http://www.nextenergynews.com/news1/next-energy-news2.13s.html
Goodpasture said:And the turn time for ANWR coming on line? 10 years........not exactly a time frame intended to resolve the current situation........
And the turn time for ANWR coming on line? 10 years........not exactly a time frame intended to resolve the current situation........
Goodpasture said:And the turn time for ANWR coming on line? 10 years........not exactly a time frame intended to resolve the current situation........
PrairieQueen said:Goodpasture said:And the turn time for ANWR coming on line? 10 years........not exactly a time frame intended to resolve the current situation........
but it could help solve it for our children...at least mine...they are only 3 and eight..
I have a question..why is it o.k. for every other country on this planet to drill for oil except the U.S.?
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.
Oldtimer Currently only one candidate has brought out and is promoting development of this coal for energy----Obama....... [/quote said:OMG, I don't know what is worse, paying $4/gallon for gas or voting for a big government liberal democrat...
I just don't see how voting in big government is going to fix the power and corruption of.... big government...
PrairieQueen said:Oldtimer Currently only one candidate has brought out and is promoting development of this coal for energy----Obama....... [/quote said:OMG, I don't know what is worse, paying $4/gallon for gas or voting for a big government liberal democrat...
I just don't see how voting in big government is going to fix the power and corruption of.... big government...
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Remember which party when they had full control spent money like it grew on trees- borrowing on your grandchildren- and built the largest bureaucracy of government we have ever had...
And remember of the two candidates- McCain has the engineer of the Enron Loophole law that is now allowing all this oil speculation- Phil Gramm - as his economic advisor...The same Phil Gramm that as Senator let the Enron Lobbyists write the law- which he introduced in a midnite addition to a law- and which he had to resign over after the Enron Scandal when it was shown Enron used the loophole to manipulate Californian electricity prices and profiteer by the Billions $- all at the expense of the consumer...
You have to ask--Did McCain promise Phil Gramm a cabinet post for all his work- Like Secretary of Energy :???:
PrairieQueen said:I was thinking more along the lines of not voting at all - or a write in - but then I would have to be able to live with the outcome either way then, because it would still be either McCain or Obama.
This is my, and so many others, dilemma now....