7.4 Billion Barrels of 'UNDISCOVERED' Oil Exist in US

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JetTrail's picture
JetTrail
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7.4 Billion Barrels of 'UNDISCOVERED' Oil Exist in US

AND, while this oil is yet undiscovered, it is technically recoverable - this according to Reuters news agency.

  http://www.reuters.com/article/2013/04/30/usa-energy-bakken-idUSL2N0DH26020130430

I have a billion dollars of yet undiscovered money in my account, but it is technically spendable once I find it.  

JetTrail's picture
JetTrail
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Joined: May 1 2013
Posts: 3
Saudi Oil Supply Output Steady Until 2020

This according to the Saudi oil minister.

http://www.reuters.com/article/2013/04/30/usa-saudi-idUSL2N0DH27Q20130430

After 2020, the world will fight to extract what oil remains.  The energy in to energy out ratio is about to change sharply.

Taint Boil's picture
Taint Boil
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Posts: 8
JetTrail wrote: AND, while
JetTrail wrote:

AND, while this oil is yet undiscovered, it is technically recoverable - this according to Reuters news agency.

  http://www.reuters.com/article/2013/04/30/usa-energy-bakken-idUSL2N0DH26020130430

I have a billion dollars of yet undiscovered money in my account, but it is technically spendable once I find it.  

 

That’s about 90 days of world oil consumption – we’re saved!

hooverdan's picture
hooverdan
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An oil man's view - US has plenty of supply @ $200/bbl

 

Mark Cochrane's picture
Mark Cochrane
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Joined: May 24 2011
Posts: 1216
Well that's a relief...

Just think, if the US keeps all of this potential oil from the Easter egg hunt for hidden deposites to support our trumpeted future energy independence, it would be 395 days of supply at current consumption levels, or 355 days worth if we get back to the go-go rates of 2006 once our economic recovery materializes! So in this best case scenario of finding all of the currently recoverable oil it buys us 1 more year to pretend...

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