Government says huge oil fields in N.D., Mont. »
Posted By TechnologyExpert 1 year, 2 months ago in NewsThe government estimated Thursday that up to 4.3 billion barrels of oil can be recovered from the Bakken shale formation in North Dakota and Montana, using current technology.
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I am Editor-in-Chief at Alice Hill's RealTechNews (http://www.realtechnews.com). I also have my own blog (Tech-Ex) at http://TechnologyExpert.Blogspot.com. Finally ...
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ThackerAgency1 year, 2 months ago
You beat me to it. I was going to submit this story. This is excellent news that we won't have to worry about global political unrest for energy independence. I did love North Dakota and Montana because they were so desolate though. I guess this will drive the price of the property up. Global warming is going to have to wait because we got plenty of oil.
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Grrr1 year, 2 months ago
At the current rate of consumption in the US, that's maybe 8 months worth of oil, at best. How long does it take to develop, and how may acres of wilderness do we destroy to postpone the inevitable for less than a year? Too long and too many.
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mesodude1 year, 2 months ago
"This is excellent news that we won't have to worry about global political unrest for energy independence."
--We don't have to worry about it now if people drive less, telecommute, ride public transportation, carpool, ride bikes and produce more fuel efficient vehicles. Why does everyone insist that drilling is a priority?
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DaneL1 year, 2 months ago
Georgia, you got that right. Now all the wacko's from New York and California will try and tell us what to do with our land. Just like they did with the wolf and grizzly.They screw everything up and then go home.
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mesodude1 year, 2 months ago
This is what I don't get about wingjobs... Why are you cheering this disaster in Iraq that you claim is to keep us all safe and defend our interests in the middle east while continuing to do whatever you feel like to hasten the deterioration of the planet? Is this what you consider supporting the troops? Is that why you think we're in Iraq? So that you can keep filling your gas tanks uninterrupted? Why even bother spending trillions of dollars and getting thousands of people killed if you're only going to turn around and destroy the earth so you can make a buck? Why? This totally perplexes me...
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miklkit1 year, 2 months ago
This is nothing new. The only reason it isn't being developed is because the price of oil hasn't risen to a high enough level to make it profitable for big oil.
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AtheismIsRealityComment removed: User banned.1 Reply
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BB641 year, 2 months ago
Well you are partially correct, shale based petroleum is more costly and the evil "big oil" are stock holder owned companies. Unlike the corrupt monarchies of the Middle East or the Venezuelan dictatorship, many people own stock in them, including you and I. IE 401K programs.
If you're going to complain about the 8-9% big oil makes about the 30-50% our government takes in taxes. I live in Wisconsin. They tax the crap out of the fuel, licenses and fees if you want to drive but our roads look like a crap. Where's all our tax money? On the Fed side it often goes for light rail, Amtrak and lately bike trails. Wouldn't it be nice if the taxes we paid actually benefited the people paying the taxes.
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getreal11 year, 2 months ago
The big oil companies are making sure that the economy gets to a standstill where no one can buy, but them. They should have found away to get oil without destruction by now. I still say we need to continue on with others ways of transport. Oil should have been an outdated thing long ago.
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BB641 year, 2 months ago
Then you really are a communist and have no clue how business runs. If you bankrupt your customers, who are you going to sell to. Big oil does best when everyone is being profitable. On the outdated things, science and technology only goes so far. There is no way to make hydrogen in a cost effective way. Solar, wind, ethanol and other lefty energy solutions are costly and simple don't work. Our left leaning media is pitching the idea of conserving. For what? If there is excess, China and India buys it up. Right now this isn't a buyer market, it's the sellers. You want to change that? Start by drilling. Build a few new refineries. You really want independence, start converting coal. It's not that technically challenging but the initial set up costs are high. The rewards are numerous. American coal, American plants, American jobs, American money and of the profits stay in America.
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canadianrancher571 year, 2 months ago
Georgia50-I will not say anthing about your comment except it is not a matter anymore of finding or recovering this oil, when I drive down through southwest Manitoba and into North Dakata on my way to Minot the number of wells that are already pumping is amazing. In our province which shares the same field they are planning to drill over 600 wells this year.
While down in North Dakota in February I made the comment to a person about being the new Texas of United Stated Which did not get a good reception, North Dakota does not have a large population and this will likely be a great thing for the state.
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Wolfie20071 year, 2 months ago
Dionys
"Solar, wind, ethanol and other lefty energy solutions are costly and simple don't work."
If these are lies then why aren't they being developed at a rapid pace? Here's the why, "solar, wind, ethanol and other lefty solutions are costly and simply don't work."
One of the rules of the market place is there is no place for failures.
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rightfromwrong1 year, 2 months ago
Great more green house gases!!!!!! Maybe the USA can bring some troops home and quit supporting every little pathetic dictator who wants to turn over his resources to the USA. Doesn't matter anyway...the USA is a scam as far as being democracy is concerned.
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BB641 year, 2 months ago
Well, there you go again... You have no idea what you're talking about. The oil we use in the USA is mainly from Canada, Mexico, Alaska and Venezuela. None of the tin-plated guys you're mentioning. As to the greenhouse gases, the only way to end them is by letting me build nuke plants. Since you won't let me do that how else would you produce electricity? Solar works about 25% of the time and then only during the day. Wind is even less reliable. Both cost more in energy to build and maintain then they will ever pay back. Huge maintenance cost $$$. GE wind considers them cash cows.
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Grrr1 year, 2 months ago
The US uses over 7 billion barrels a year. 6 months worth of oil under discussion here. Pointless. We've just gotta bite the bullet, push the development of new energy techs, and get off the teat.
If we'd demanded and legislated for hydrogen cars 15 years ago, we'd be there now. Cars are our #1 huge society-wide waste of gas. They are also one of the few reasons oil prices impact our daily lives so hugely. We should consider ourselves lucky we have such a drastic problem that requires a new technology solution. These are new industries that MUST be developed and could save our economy, if we push them hard right now.
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BB641 year, 2 months ago
Actually oil consumption is down in the USA but the global demand is high so the price will remain high too. The technology you speak of does exist, depending upon what you think the final answer should be. Coal conversion, I've spoken of is one of the best extremely long-term options available to us. The fringe stuff from solar, wind and geothermal isn't really a practical answer. Everything from the environment to the NIMBY crowd will fight you. We could have additional nuke plant up and running in 48 months but again, the environmental crowd hates them.
You mentioned cars, I love the nuts coming out with the hydrogen powered cars. It's possible but there really isn't a cheap way to produce hydrogen that the tree huggers would support.
Start with a few coal refining plants get them on line and drill out west and off shore. That will help relieve costs and give engineering time to catch up.
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joeblowe1 year, 2 months ago
I suppose that finding a big bunch of oil is good news for the oil companies that will pump it out. And maybe for anyone holding mineral rights in the area. I'm on board with the idea that we need to GET OFF the petroleum teat as soon as possible, to the extent possible. Particularly to use as fuel to generate electricity. (Coal also) If you think about it from a point-of-origin view, ALL of our energy is nuclear. Solar - nuclear (hydrogen fusion in the sun) Oil - is captured solar energy. Coal, ditto. Wind - is really solar. Tides and geothermal maybe NOT solar, but the weather that produces WAVE energy - solar. And, of course, nuclear power plants use nuclear fission. So - for those AFRAID of nuclear energy, HaHa - you are ALREADY using it. Let's get over the Big Fear and make progress towards safe, efficient reactors that CAN provide us enough power. Otherwise we'll end up with a Dyson sphere to capture energy from the only fusion reactor we KNOW works (the sun, if you don't know)
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BB641 year, 2 months ago
I'm not going to defend big oil, because most of the stock is owned by your union pension funds and retirement plans.
What does bother me is that you'd rather buy your oil from someone else instead of from America. Think about the income this will bring to a lot of people in those areas. Those are American jobs. The pipelines that will be built, again American made pipe installed by American workers. Are you seeing a trend yet? American money staying in America.
As to the nuke plants, I build those too. This year was the first time in 29 years a license was granted to build a new plant. Basing the new plants on the French designs, we could have very efficient clean plants producing energy. But our left seems to think they can create an energy source by magic.
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bill29361 year, 2 months ago
SSHHH! Don't tell anyone, but there is alot more oil out there in the US.
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Commodore11 year, 2 months ago
If the democratic controlled congress doesn't do anything to screw this up then I'm sure the oil companies will do something to keep it off the market.
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antitrust1 year, 2 months ago
I agree with you Mace. We should nationalize the oil production/distribution. Get rid of the special interest in our government and we will eliminate the corruption and influence that prevents us from making progress.
"THE OIL COMPANYS WILL JUST SHIP IT OVER TO JAPAN FOR A HIGHER PRICE..JUST AS THEY DO WITH THE OIL FROM ALASKA."
Sad but true part of business economics. Why sell to the low bidder if someone is willing to buy it for more. We need to keep domestic oil production domestic instead of shipping it off.
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BB641 year, 2 months ago
Well that's somewhat true but you're not thinking globally. The oil in Alaska is closer to Japan's refineries than it is the Americans. We can ship oil from the Canadian oil flats for less money that shipping our own oil. So we sell our oil to Japan and buy the Canadian oil. While it sounds un-American it really makes sense. Again, you're dealing with billions of barrels, to save even a few hundred miles of pile line reduces costs.
As to nationalizing anything, that's a bad idea. You attack Bush now. What happens if someone like a Chavez gets in there? Not a great idea.
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ALL4IT1 year, 2 months ago
Well, we might survive a little longer then. For how long will those billions of barrels last BTW?
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ALL4IT1 year, 2 months ago
The answer is to find other economically viable ways of producing energy. Producing domestic cocaine is not the answer to our drug problem.
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Mutainia1 year, 2 months ago
Hey, with this oil news, maybe the Bush Administration won't scold Israel anymore for getting angry when rockets are fired into it's neighborhoods from territory it gave to Muslims in the hopes of achieving peace with them. NOW, maybe Israel can say, "Go ahead, SHOOT rockets into our neighborhoods, and, if anyone is hurt, no more Kabah in Mecca."
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george561 year, 2 months ago
There are 1 trillion bbls. of crude oil recoverable in the world and U.S. has 4.9%. There are 2.5 trillion bbls. of recoverable shale oil in the world and the U.S. has 72.7% and Canada 12.4% of the reserves, with the majority located in Utah, colorado and Wyoming. there are several technologies such as retort, microwave in situ, etc... and 5 leases have been issued by the U.S. govt. to try and recover this oil. The cost of 50,000bbl. operation is arpprox. $750 million. Govt. needs to get off its behind and offer the incentives to get this going.
In regard to coal gasification,current technolgy is very clean. there is currently a unit being built in Utah to make diesel fuel for approx. $0.80/gal. The co2 is pumped into a dome underground and a co2 plant is also being built on site to deliver various grades of co2 for industry all the way to drink carbonization.
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BB641 year, 2 months ago
Well said, one question, in your research when they showed oil, did they take into account the Canadian Oil Sands. Two reports neglected to count that. If the projected numbers are correct, they may have more oil that most of the Middle east. Just was wondering.
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BB641 year, 2 months ago
That's one of my major complaints. I work with ABB. Don't spam me or attack me, they pay me well. Every time we meet whatever level is required, be it air, water or noise standards they always change it. 20 years ago it was acid and mercury levels, we're doing much, much better, now they want the CO2 to go away forgetting that you really can't have a fire without some sort of emission.
Also, that's why I suggested to someone that instead of blaming the USA for everything, they visit China or Mexico to protest their plants. Childish on my part, yes. But let's be serious, do you really think they'd leave mommy's basement and do something?
Before you ask, I'm off because of a back injury.
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wildman65571 year, 2 months ago
It is about 200 days worth:
4300000000/20800000 = 208
Thats around 6 months.
see:
https://www.cia.gov/library/publications/the-wo...
So the fellow you said a few months was correct.
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quackpot1 year, 2 months ago
These are the same "fields" that the dollar stock scam artists have been promoting for the last 30 years in order to get suckers to buy stock in their fly-by-night companies.
Perhaps now, with the high price of crude, some of the companies that are lining up to take advantage are real. However, the history should alert any thinking person to the problems that are likely to be encountered in actually recovering the oil.
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walden31 year, 2 months ago
And when oil is $10,000 a barrel it will be economically feasible to grow people and boil them for the oil, but that still doesn't address the real issue.
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t2scott1 year, 2 months ago
continued...... what most don't understand is that both parties are pretty much the same, as far as this particular subject is considered. Dems tax and spend while Repub's "borrow" and spend. It's all relative to "what" you want to believe and how far you want to go to find out the facts which support your beliefs.
Now we move on to the energy/oil... debate. Remember I LOVE to ride ATV's (650 Kawasaki Prairee) I get off on riding powder with a Yamaha NYTRO and nothing gets me rockin' like a 400 hp '69 Camaro or my modified 12 valve cummins diesel smokin down the long stretches of Montana highway. My buddies scorn me for saying this, they think I'm half nuts, but it's true folks and it's inevitable, we have to change our way of thinking when it comes to the consumption of fossil fuel!! It's simply a case of years of conditioning that has led us to believe this is the way our lives are directed we have been basically brainwashed.......
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cloud151 year, 2 months ago
I have to admit, I didn't read much past the first page of this thread, thats all my mind could handle for the moment. BB64 has been making some great posts where he wasn't attacking anybody, but having an intellectual conversation with someone else, yet some people feel the need to but in with insulting remarks and name calling. Even after the name calling BB64 replied in a classy way without returning fire. Bravo to BB64 for being able to show some class.
I agree we should search for energy dependence as it seems to be the root of all our struggles in todays day and age. We have global warming, economics, the middle east, environmentalist groups, etc. and all the problems revolve around energy issues. Ethanol while it sounds like a great idea if you just think about corn as energy, turns out to be just as bad if not worse than oil. It would cause mass inflation and just as much green house gases. As I see it ethanol would solve none of the energy issues we see today.
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cloud151 year, 2 months ago
Personally I think solar energy is the way to go. Its an energy source that as long as were able to survive will be there. The problem is our technology isn't at the level to make solar energy a common man energy source. The energy issue is a difficult one to talk about because in reality our options are limited. People don't understand that just because we have the technology to do it, it doesn't mean we have the technology to MASS produce it. Until we gain that technology were going to be in a tough spot.
From what I've seen, BB64 has been making some great arguments for coal. I'm no expert on energy so I may be easily persuaded, but from what hes said, if the government can show some commitment and work for energy independence as hard as we worked to land on the moon, then coal may be a great interim answer for energy independence.
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HanymanComment removed: User banned.
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HMMace1 year, 2 months ago
SEEING AS HOW OIL COMPANYS HAVE NO LOYALTY TO THIS COUNTRY--WE SHOULD NOW NATIONALIZE ALL AMERICAN OIL COMPANYS--TO MAKE SURE OUR OIL STAYS IN THIS COUNTRY..
THEN WE SHOULD MAKE IRAQ THE 51ST STATE, AND INCORPORATE THAT OIL INTO OUR OIL...
THEN--FOR EVERY ROADSIDE BOMB IN IRAQ, WE SOULD SEND A CRUISE ISSILE TO IRAN. TIT FOR TAT, SO TO SPEAK..
WE NEED ANOTHER TEDDY ROOSEVELT...
WHAT WE DO NOT NEED IS ANY MORE GREEDY-CROOKED POLITICIANS..WE NOW CAN NOT TELL THE DIFFERENCE BETWEEN AN AMERICAN POLITICIAN, AND A MEXICAN POLITICIAN..
OHH- AND WE NEED ANOTHER --REVOLUTION
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cloud151 year, 2 months ago
Caps lock is on the left side of the keyboard to the left of the A button, above the Shift button and below the Tab button.
Your Welcome
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jaern1 year, 2 months ago
For the price of oil, I'd much rather see American oil workers and their families getting the income than a bunch of Middle Easterner.
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