Will Bakken Oil have a global impact on oil production?

  1. Research Analyst profile image84
    Research Analystposted 7 years ago

    Will Bakken Oil have a global impact on oil production?

  2. lime light power profile image60
    lime light powerposted 7 years ago

    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.

 
working