Will Bakken Oil have a global impact on oil production?
Not in the least. The Bakken formation is estimated to have anywhere from 4 billion (current technology & cost) to max 24 billion barrels (future technology & future price of oil) of recoverable oil. The US alone consumes about 7 billion barrels a year annually. At the low end, Bakken will maybe last us 6 or 7 months. At the very high end Bakken would only provide about a 3 and half year supply for the US.
So, on a global scale, Bakken won't make a dent.
by cindi h 9 years ago
Check out this link regarding the 4.3 billion barrels of oil discovered in the U.S but what are we doing about it? What are your thoughts?http://www.usgs.gov/newsroom/article.asp?ID=1911
by qwark 9 years ago
There is enuf oil in the "Bakken" oil reserve to fuel the American economy for 2041 years straight!We now have access of up to 500 billion barrels. And because this is light,sweet oil, those billions of barrels will cost Americans just $16 PER...
by kerryg 9 years ago
Contrary to what has been suggested in several posts here over the last few weeks, Obama's supposed imposition of "regulation after regulation, roadblock after roadblock" is not what's holding up domestic oil drilling, it's the oil companies themselves holding out for higher profits.This...
by David 8 years ago
I knew that our production was up but I wasn't aware that we were right on Saudi Arabia's heals in production per day. Pretty interesting information, here is the link:http://news.yahoo.com/us-may-soon-becom … nance.htmlThe US has been producing about 10.9 million barrels a day so far...
by Uva Be Dolezal 10 years ago
Why is everyone fighting over the complex variable of global warming, with post-oil-age impending ?
by OLYHOOCH 9 years ago
OIL---you better be sitting down when you read this ! !You "will" pay $5 a gallon + again and you won't complain loud enough to make a difference, RIGHT!Here's an astonishing read. Important and verifiable information :About 6 months ago, the writer was watching a news program on oil and...
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