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Ranchers.net

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.

By comparison, Saudi Arabia has the largest known oil reserves at 260 billion barrels and the part of ANWR being discussed has an estimated 1.9-16 billion barrels..

And that part of the country has laid out the red carpet for oil developers with areas like Sidney already saying they would welcome new refineries..

So what makes ANWR so dang important to the Repubs :???:
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