The Discerning Texan

All that is necessary for evil to triumph, is for good men to do nothing.
-- Edmund Burke
Wednesday, June 04, 2008

US Sitting on ENORMOUS Oil Field; Will Dems Derail Drilling?

We alluded to this a couple of months back because I noticed another story about it. But this is huge--that is if the Green Lobby permits its puppets in the Democrat Party to actually get the oil out of the ground and refine it. Any responsible President would make the case to the American people early and often. This could alter the strategic balance of the world's energy supply. From Westhawk:
Yesterday, Bloomberg News published a story about some young oil developers and their rush to bring the Bakken oil formation, located in eastern Montana and western North Dakota, into major production.

The Bakken formation has been a minor producer of crude oil for over a half century. What has increased this formation’s potential is the arrival of mature horizontal drilling technology, now combined with water fractionating recovery techniques. These techniques could turn the Bakken formation from an inconsequential dud into perhaps the largest oil field on the planet.

How large? In an unpublished research paper he wrote while working as a geochemist at the U.S. Geological Survey, Mr. Leigh Price (who died in 2000) calculated a mean estimate of recoverable oil from Bakken at a stupendous 413 billion barrels. This compares to Saudi Arabia’s proven reserves of 267 billion barrels.
DiscerningTexan, 6/04/2008 10:56:00 PM |