They Claim There's No Oil...Latest North Dakota Bakken Oil Field Estimates..........

reply to post by nixie_nox


im sure its more like 20 million barrells a day

reply to post by ccponzi


The Bakken oil fields are being reserved for after the fascist Coup that will take place 2014-2020. So as to create the desired effect of going from fuel shortages to an overwhelming glut of fuel in the market place. And the emotional response that will have with the general populous.


After all you only need two things for a stable long term fascist state capable of anything:1) a large over privileged, over entitled and fearful dominant female electorate, 2) and a large number of under fed, disenfranchised and desperate male populous.

We have 1, but number 2 won't fully materialize for about another 4-5 years. Don't get me wrong it is almost there but still not enough energy to be useful for the fascist's.

3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken

= Half a year of US oil consumption.

The trillions of barrels in the ground isn't that interesting since we can't extract it due to the poor EROEI.

Originally posted by ingeborgsjon

3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken

= Half a year of US oil consumption.

The trillions of barrels in the ground isn't that interesting since we can't extract it due to the poor EROEI.

Oh quit using your logic! Don't you know the rule around ATS is Drill baby, Drill!

The problem with shale drilling is output decreases 50 to 70% in the first year and 90% in the second. Shale drilling lasts maybe 7 to 10 years if you are lucky.The decline curves just stink with shale.

This whole "there's oil for hundreds of years" crap is just self delusion. Everyone I know who is in the industry says Oil is getting harder and harder to get. Even they think the party is over.

Originally posted by neo96
reply to post by incrediblelousminds

 

The US ALREADY gets about 25% of it's oil from within it's own borders. So to pretend we don't drill here is obviously false. In addition, unless one believes in the fairy tale of 'aboitic oil', one recognizes that productivity of existing reserves in the US has declined since the 70's, which is the main we reason drilling is not expanding exponentially. The oil likely isnt there, and what is there isn't profitable to extract.

not to mention the new jobs and new wealth that would be created here instead of abroad and consider where all that wealth goes to.

edit on 23-4-2011 by neo96 because: (no reason given)

Excuse me while I laugh.

Whom exactly are you referring to when you say "new wealth"? It certainly isn't Average Americans that this "new wealth" will be going to. It's just more wealth that will be going to the top, there is no "new" to it.

We have known at least from the 60's that USA had an abundance of oil. We were told that we were saving it for a rainy day. Who decides when the rainy day is here?

reply to post by pccat


Not only that the wells deplete at a very high Rate 60% in the first year

Need to keep drilling new wells to keep up the pretense of plenty.

Two tons of tar sands are required to produce one barrel of oil. Cost of extraction approx $27 per barrel.

Although profitable on the face of it the Balkans Oil Sands will be depleted in 5 or so years

Shale Gas / Shale/tight oil is another wall street swindle. Thats where the money is being made.

Wall street Investment banks selling and flipping leases at a 5 to 1 raio

This will probable be the nest big wall street scandal

originally posted by: ccponzi


Okay. Solar energy, windmills and rubbing two sticks together accounts for about five percent of the energy consumed in America.

What do you suggest we replace oil with? I mean, it's a nice Utopian thought, but, I'm just saying?

liberal socialist...so feel free to disregard this post

Right, 5% and my opinion is we should keep going ang going and get that number up. If you hadn't mentioned Oligae, I would have been under the impression that you feel that because alt power only accounts for 5% we should just throw our hands up and say "screw it! it doens't work!"

Then in your next post you said we shouldn't have people sit on their hands and wait ten/twenty years for a radical change

so what is it you want? Should we not try to improve alt power?

originally posted by: Rockpuck
reply to post by ccponzi

 

Oil is a naturally occurring Hydrocarbon and cannot be "depleted" .. Hydrogen and Carbon are the two most abundant elements in the universe, and in the form of oil is simply part of the Earths process. Since it cannot be depleted then it must be made "scarce" .. America will never drill for oil, because it would make it to cheap and thus no profit for oil companies.

That's a load of nonsense.

Oil takes millions of years to form. We're using billions of gallons of it every day, a few hundred million times faster than the millions of years it would take for stocks to replenish, hence it's running out very quickly.

These 'major' reserves would only last a couple of years at current US useage rates. After that it'll be a few hundred million years until it's replenished.

Focus on production rate instead of reserves, as well as the cost of obtaining new oil. For example, more oil wells have to be dug each time to maintain production.

It's so cute when MSN sources compare theoretical maximums with proven reserves.

For the record, Northern Alberta, has a theoretical maximum of 1.7+ Trillion barrels.

Our current economically recoverable estimate is around 170+ billion barrels, but that was derived almost 10 years ago, and doesn't take into account any of the new technologies that came into play from thean until now...which, conservatively, doubles that estimate.