Charles_Main
AR15 Owner
But wait! Turns out things aren't as bleak as we've been led to believe....SHOCKER...LOL. See here Massive Oil Deposit Could Increase US reserves by 10x All we have to do is drill it! Now what Care? Why shouldn't we drill this oil? What if we drilled this oil and the Gulf oil and the ANWR oil?
If we didn't know we were sitting on the oil before and we just found out we're sitting on the oil, would it still only be 3% or would it really be more than that? (HINT: open the page and look at it).
n 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.
Well screw me sideways.
