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Monday, March 10, 2008
Massive Oil Deposit Could Increase US reserves by 10x
Check out the link above.
"America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant."
The Bakken reserve has been known for quite a number of years. Unfortunately and from what I understand, they haven't had an accurate inventory of the reserves and most of the oil is trapped in shale. Shale oil holds tremendous potential for the U.S. and we have huge know shale oil reserves, but the technology for recovering crude from shale is expensive and needs to be perfected.Post a Comment
You may recall shale oil played a role in Atlas Shrugged.