Think of it this way: Every bbl of oil we are able to import from Saudi Arabia or elsewhere in the world at a reasonable price to help satisfy our current consumption saves a bbl of oil from our own domestic supply instead for use in the future, when the cheap foreign oil is no longer available, and we are doing a service to future generations by importing oil to satisfy current needs now while still holding much of our own domestic supplies in reserve. The Saudis may think they are ripping us off when in reality the reverse is true.
Isn't it neat tho that northwestern ND will be a major source of oil from this reserve held for the future? But meanwhile, the leading exporter of oil to the US is not Saudi Arabia, Venezuela, or any of the other nations that the public normally thinks of as the big oil exporters, but rather Canada, our neighbor to the north, a very friendly country that produces far more oil than its comparatively small population can consume. When it comes to oil production and consumption, the real world is very different from how it's generally portrayed in the media, which loves to do scare and gloom-and-doom specials themed on the largely incorrect notion that the world is somehow running out of oil. If that notion were true, EOG would not be able to sink productive holes in the Bakken at a company-cited direct drilling cost figure of $22 a bbl and cite 100+% ROI numbers in their investor reports. Let's get real here! In all of recorded history, mankind has used about a trillion bbl of crude. The best estimate is that there are at least 2 trillion more bbls out there, awaiting the next generation of drillers with the brains and risk capital to go after it, the next generation of recovery technologies. If Dr. Price was right, and the 2 trillion bbl figure is right, 25 % of that 2 trillion bbls could be in the Bakken-- in NW ND, NE MT and up into Canada. The recent efforts by EOG, Whiting, Continental and others to tap into supplies in Mountrail and Dunn counties with drastically increased oil flows from each well represents just the first step of what could be a very long path that could ultimately make northwest North Dakota one of the wealthiest places on earth. The UND projection on what could be the percentage of millionairse in Mountrail county (2,000 out of a total population of 6,500--counting men, women and children--) should soon place that county among the very wealthiest in the nation, perhaps putting many of the now very wealthiest counties on the eaat and west coasts to shame. Stay tuned. David On Sep 25, 2:18�am, bradaz <[EMAIL PROTECTED]> wrote: > No, but there were several people that were basically in agreement > with Matt Simons that we may be at a tipping point and we are relying > on Saudi Arabia to have the reserves and be able to produce them for > the next 20 years. Not sure what TV show it was recently about Abu > Dhabi and they expect to run out of oil in 2016. Also one of the > reasons Iran is adamant about nuclear power. They expect to run out of > oil around 2020-2025. > If the USGS had said 36.5 billion bbls, they may have made a point > about it. 3.65 billion bbls is pocket change for future needs. > > On Sep 24, 11:01�pm, go-devil <[EMAIL PROTECTED]> wrote: > > > > > Not a word about the Bakken!! > > > On Sep 24, 6:28�pm, [EMAIL PROTECTED] wrote: > > > > There is a special on "Black Gold" in America tonight on CNBC 8:30 CST. > > > Yes, its showtime!? got to go... > > > > -----Original Message----- > > > From: go-devil <[EMAIL PROTECTED]> > > > To: Bakken Shale Discussion <[email protected]> > > > Sent: Wed, 24 Sep 2008 8:10 pm > > > Subject: FORT BERTHOLD > > > > Found this awhile back its full of > > > information:http://www1.eere.energy.gov/tribalenergy/guide/pdfs/fort_berthold.pdf...quoted > > > text - > > > > - Show quoted text -- Hide quoted text - > > > - Show quoted text -- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Bakken Shale Discussion" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/bakken-shale-discussion?hl=en -~----------~----~----~----~------~----~------~--~---
