Zoom-boing
Platinum Member
We want to get off of foreign oil, correct? Then why don't we drill here for it? I mean, within the U.S. (on land)?
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We want to get off of foreign oil, correct? Then why don't we drill here for it? I mean, within the U.S. (on land)?
But we do need to do more nationaly.
We do, Zoom-boing.
United States Oil - production - Economy
We just consume far more than we produce.
Definition: This entry is the total oil produced in barrels per day (bbl/day). The discrepancy between the amount of oil produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes, refinery gains, and other complicating factors.
1 Saudi Arabia 11,000,000
2 Russia 9,870,000
3 United States 8,322,000
4 Iran 4,150,000
3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montanas Bakken Formation25 Times More Than 1995 Estimate
The Bakken Formation estimate is larger than all other current USGS oil assessments of the lower 48 states and is the largest "continuous" oil accumulation ever assessed by the USGS. A "continuous" oil accumulation means that the oil resource is dispersed throughout a geologic formation rather than existing as discrete, localized occurrences. The next largest "continuous" oil accumulation in the U.S. is in the Austin Chalk of Texas and Louisiana, with an undiscovered estimate of 1.0 billions of barrels of technically recoverable oil.
In 2009, about 51% of the petroleum consumed by the United States was imported from foreign countries.
"Petroleum" includes crude oil and refined petroleum products like gasoline. About 77% of gross petroleum imports in 2009 were crude oil. About 63% of the crude oil processed in U.S. refineries was imported.
Unless I'm misreading that, it would be over 9 million barrels a day. There are 42 gallons of oil in a barrel of oil.
42 gallons x 9 million barrels = 378 million gallons of oil produced a day.
378 million gallons of oil a day x 365 days a year = 137,970,000,000 gallons produced a year. Almost 138 Billion. That's billion, not million.
Export of oil transported in the Trans-Alaska Pipeline System was banned until 1996. Between 1996 and 2004, a total of about 95.49 million barrels of crude oil, equal to 2.7% of Alaskan production during that period, was exported to foreign countries. As of September 2009, no Alaskan oil has been exported since 2004.
In 2009, the United States consumed a total of 6.9 billion barrels of oil (refined petroleum products and biofuels), which was about 27% of total world oil consumption.
I asked because I saw this and wondered if we were drilling enough. Could we drill more here to really make a difference in our foreign oil dependence -- or make more of a difference? I realize this article is two years old. It just made me wonder is all.
3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montanas Bakken Formation25 Times More Than 1995 Estimate
The Bakken Formation estimate is larger than all other current USGS oil assessments of the lower 48 states and is the largest "continuous" oil accumulation ever assessed by the USGS. A "continuous" oil accumulation means that the oil resource is dispersed throughout a geologic formation rather than existing as discrete, localized occurrences. The next largest "continuous" oil accumulation in the U.S. is in the Austin Chalk of Texas and Louisiana, with an undiscovered estimate of 1.0 billions of barrels of technically recoverable oil.
USGS Release: 3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montanas Bakken Formation25 Times More Than 1995 Estimate (4/10/2008 2:25:36 PM)
It's the same with Alaskan oil, Zoom-boing. There are technological challenges to bringing this oil to the surface, and they drive up the costs. So far, the oil companies have not found all such reserves economically viable.
But even if all oil fields in the US were under production, it would not eliminate our dependence on foreign oil....and it would drive up our costs, as consumers, quite a bit.
I asked because I saw this and wondered if we were drilling enough. Could we drill more here to really make a difference in our foreign oil dependence -- or make more of a difference? I realize this article is two years old. It just made me wonder is all.
3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montanas Bakken Formation25 Times More Than 1995 Estimate
The Bakken Formation estimate is larger than all other current USGS oil assessments of the lower 48 states and is the largest "continuous" oil accumulation ever assessed by the USGS. A "continuous" oil accumulation means that the oil resource is dispersed throughout a geologic formation rather than existing as discrete, localized occurrences. The next largest "continuous" oil accumulation in the U.S. is in the Austin Chalk of Texas and Louisiana, with an undiscovered estimate of 1.0 billions of barrels of technically recoverable oil.
USGS Release: 3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montanas Bakken Formation25 Times More Than 1995 Estimate (4/10/2008 2:25:36 PM)
It is a really good question to ask. If you notice for a moment, your article discusses I believe the same thing Jeremy's does. However, let's take a step back and take a look at my post just before this. 3 to 4.3 billion barrels of Oil would not even last a year.
It's the same with Alaskan oil, Zoom-boing. There are technological challenges to bringing this oil to the surface, and they drive up the costs. So far, the oil companies have not found all such reserves economically viable.
But even if all oil fields in the US were under production, it would not eliminate our dependence on foreign oil....and it would drive up our costs, as consumers, quite a bit.
Exxon and Imperial acquired the Ajurak lease for nearly $600 million in 2007, and BP acquired the Pokak lease as part of a package of other Arctic assets in 2008. Both companies have conducted 3D seismic surveys, but haven't done any exploratory drilling of the sites yet.
Exxon and Imperial will each hold a 25% share in the joint venture and will be in charge of the operations; BP will hold the remaining 50% share.
The main militant group in Nigeria's oil-rich southern delta said Tuesday it kidnapped seven local workers from an Exxon Mobil Corp. offshore rig and promised new violence in a region vital to U.S. oil supplies.
The hostage claim came as a military spokesman said soldiers had begun an operation to fight militants hiding in the region.
Such raids, as well as the possibility of new militant attacks, could hurt the OPEC-member nation just as its oil production appears to be reaching levels seen before the insurgency began four year ago.
When I read that it sounded like a lot to me. After reading your numbers . . not so much.
If we had more oil coming from the U.S. used in the U.S. (rather than exported), wouldn't it be worth the cost/expense of extracting it?
The reason that we don't Drill is because we are trying to ban co2 from going to the Atmosphere. That is what Obama is doing.
Some think so. There are also environmental concerns where the Alaskan oil fields are concerned.....and that may be true of the others as well; I don't know.
But remember, this would deplete these fields....it's a short term solution at a high cost.