Hi Peter,
I agree your assessment but note that the oil extractive technologies are improving in efficiency and sophistication just like military weapons systems do due to huge amount of funds to these industries (that are the life-line for the continuity of big oil companies). Provision of false investment advice is also an offence in the USA which restricts size of fancy claims. I rather tend to think that the renewable energy company you cited down plays it, as it competes for same investment dollars from the same pool of investor money. I understand that people are concerned and worried about the Ponzi schemes of the investment managers, but this is overstated and very atypical of them despited weakened credibility of the financial markets and banks on financial data released by the companies. It is custodial not to spill beans before patent protection is fully in place. Halliburton is a very reputable oil firm. But what is important is to note the greed and potential unleashed. In fact, I would say that this reference is largely only towards most secure oil potential. I think the matter goes beyond that to supply far more oil and some refer that these can supply the US oil for decades. "Could increase U.S reserves by 10 times..."- American Digest. It is this that are hopeful and move investors minds some way towards El Dorado. Of course, there is the aspiration to sell oil as the new Midas touch in North Dakota by the local people, including government, anxious to secure new jobs and contracts in times of recession. We need to realise that background. But extraction is an improving technology. But similarly, given similar financial back up, geoengineering could utilise its full potential as the methods multiply and crude tecniques improve to solve these problems. The big picture is that it is all not that bad news as it is giving a promise that many of the obstacles in geoengineering will be removed in course of time. In geoengineering we also must look at combinatorics like Halliburton goes both horizontal drilling and fracturing to unleash the potentials of Bakken and Three Forks. The combinations of crude geoengineering components to amplify quantitative or effective aspects of intervention. Easier said than done, but our field is very new and it could sooner than later pick up also this aspect. A good documenting of geoengineering ideas and database would be essential to gather all material input to help finding joining pieces to enhance and amplify it. Kind regards, Albert RE: [geo] NEW 9 BILLION BARREL OIL FIELD DISCOVERED IN THE USA Bruce Gjovig, director of the University of North Dakota's Center for Innovation, there may be as many as 2,000 new North Dakota millionaires within the next 3 to 5 years. And that's only counting one small North Dakota county of 6,000 residents. That's one estimated millionaire for every three residents! A recent technological breakthrough has opened up the Bakken's massive reserves of up to 4.35 billion barrels and that's just in the Bakken. If the Three Forks formation proves separate from the Bakken, we could be looking at enough crude for decades on end. "Could increase U.S reserves by 10 times..."- American Digest Bill Walker, a Denver-based geologist with Headington Co. says his company has recently developed the technology to drill the Bakken down effectively - and it's one of the company's closest guarded secrets. Even though the technology is rather well known, actually using it successfully is the big secret. The technology is called Horizontal Directional Drilling or H.D.D., and only a few companies have mastered the process. Getting oil out of the Bakken is not a matter of poking a hole in the ground until you hit a soft spot full of oil - which is the old vertical drilling technique. The Bakken is woven with rocks, and that rock-layer is wide but very thin. Thin enough that vertical drilling is horribly unsuccessful. It was Findley's idea to drill a well sideways - a technique called "horizontal directional drilling," in which wildcatters drill down to the oil and then kick out their well thousands of feet to the left or right like an underground sprinkler. But horizontal drilling alone isn't enough to get the oil out of the ground. Findley had to work with Haliburton engineers to figure out a way to both drill sideways and fracture the rock to release the oil. Both horizontal drilling and fracturing had been done before, but never together. This was Findley's revolutionary idea. These combined technologies made drilling the Bakken - Three Forks basins possible and extremely profitable. Oil & Gas Financial Journal interview with Mark Williams, senior Vice President at Whiting Petroleum (one of the leading producers in the Bakken): Assume oil were to drop all the way to $45 a barrel from its current $65 level. With a $5 discount to the NYMEX price, each well would be pumping oil at $40 a barrel. Roughly 20% of that $40 is sent directly to the North Dakota landowner. Another 20% goes to operating expenses. That leaves approximately 60% of the original $40, giving the driller $24 a barrel. Assuming drillers can pump out 800,000 barrels of oil per well, that allows the company $19 million in revenue, per well. If each well costs about $5.5 million, the driller is still making a 3.5 to 1 ratio return on their money! Remember, that's in a scenario in which oil collapses to $45. Today oil's at $60. From: pre...@attglobal.net To: albert_kal...@hotmail.com; geoengineering@googlegroups.com; indian...@googlegroups.com Subject: Re: [geo] NEW 9 BILLION BARREL OIL FIELD DISCOVERED IN THE USA Date: Wed, 29 Jul 2009 22:55:04 +1200 This reads like a hard sell, maybe a scam. Visit http://www.green-planet-solar-energy.com/bakken-oil.html for a more thoughtful analysis which puts about one per cent of the reserve as recoverable by conventional means. Horizontal directed drilling can likely increase that. Maybe someone knows an oil industry expert who could say by how much and what cost. Peter ----- Original Message ----- From: Veli Albert Kallio To: Geoengineering FIPC ; Indianice FIPC Sent: Wednesday, July 29, 2009 9:08 PM Subject: [geo] NEW 9 BILLION BARREL OIL FIELD DISCOVERED IN THE USA Hi, RE: More Geogenineering Urgently Required! This is a now "once-in-a-lifetime party" for the oil people to make billions of quick profits. It isn't every day you find 10 billion barrel new oil field like Three Forks / Sanish Formation. Because of its immense size, this helps to wean the USA off from the Middle East oil dependency and defer back the peak oil world-wide (somewhat). Truly amazing discovery of new oil for the thirty drivers! People are already dancing on tables on Houston today. Sad day for environment. Rgs, Albert FW: Big News from the Bakken Date: Tue, 28 Jul 2009 06:04:41 -0700 From: eac-elet...@angelnexus.com To: albert_kal...@hotmail.com Subject: Big News from the Bakken . Windows Live Messenger: Celebrate 10 amazing years with free winks and emoticons. Get Them Now No virus found in this incoming message. Checked by AVG - www.avg.com Version: 8.5.392 / Virus Database: 270.13.35/2269 - Release Date: 07/28/09 17:58:00 _________________________________________________________________ With Windows Live, you can organise, edit, and share your photos. http://clk.atdmt.com/UKM/go/134665338/direct/01/ --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "geoengineering" group. 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