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Originally Posted by gbsean  here is another oil feild that I had never heard 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. |
If you had read the various posts on the subject that I have made, then you would have heard of the Bakken. Then you add comparable amounts under Wyoming shale, GOM, etc. and one can easily determine that we are in no danger of running out of oil for many years if we were but to allow drilling and production.
That does not mean we should not conserve, use nuclear, wind, geothermal, solar, clean coal, or pursue other realistic means of energy generation. It simply says that there is no need for the US to be dependent upon foreign oil because the chicken little Left has made us that way.