Quote:
Originally Posted by idontknow
Your 500 years of oil reserves comment got me searching for some reference but I stumbled on this:
America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant.
From: http://www.nextenergynews.com/news1/next-energy-news2.13s.html |
Here's another quote from the same source:
"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."
Problem is, the web page is dated Feb 13, 2008. Where's the report? If they did release such a report, why wasn't it major news that would have burst the oil bubble?