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 h7 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 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 kerryg7 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 qwark7 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 Dolezal8 years ago
Why is everyone fighting over the complex variable of global warming, with post-oil-age impending ?
by woolman607 years ago
So now we are known as the little people, BP chairman calls us little people and guess what UK we are not blaming you, so get over it, our shores are being destoyed, this is not about the UK this is about the world.
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