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 David5 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...
by kerryg6 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...
by cindi h6 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 qwark6 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...
by Uva Be Dolezal7 years ago
Why is everyone fighting over the complex variable of global warming, with post-oil-age impending ?
by heohongtham4 months ago
Do you think Global Warming is real or a myth?
Copyright © 2018 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.