US may have far more oil than previously thought

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ezlxq1949's picture
ezlxq1949
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Joined: Apr 29 2009
Posts: 261
US may have far more oil than previously thought

Concluding paragraph from
<http://www.americanfreepress.net/html/biggest_oil_reserves_182.html>

"James Bartis, leading researcher with the study, says America has more oil in this one compact area than the entire Middle East. And the stunning news is that we have more oil inside our borders than all the other proven reserves on Earth, and that it could be extracted at an approximate cost to Americans of only $16 a barrel."

If true, this is both good news and bad news. It's good in the sense that truly tumultuous times may not arrive for some considerable time, by which time maybe we will have prepared for peak oil. It's bad news in that it means business as usual and that no-one needs to change his way of life.

csstudent's picture
csstudent
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Posts: 48
Re: US may have far more oil than previously thought

 I wouldn't get your hopes up over this.  If you follow that link, the highest estimate of oil there is 4.3 billion barrels.  If you had all of that oil sitting in storage tanks right now, that would supply the US for 215 days at current consumption rates and would supply worldwide oil consumption for 54 days.

Also, for anybody interested, here's the April 2008 study that is referenced in the link above: http://pubs.usgs.gov/fs/2008/3021/pdf/FS08-3021_508.pdf

logBurner's picture
logBurner
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Posts: 58
Re: US may have far more oil than previously thought

The planet has enough oil to keep us driving our cars for hundreds of thousands of years that is certain. I'm not quite sure people would like to live in that world though! Blow the tops off mountains, refine and charge what is needed to meet the return on investment. Shale oil, tar sands, . . . . for what? So we can drive our kids to school to learn how to survive in a post oil environment? There is a real exponential kick back if we go down that route.

try http://en.wikipedia.org/wiki/Oil_shale

Seen a similar article about recovering oil in Canada \ US. Sure enough lots of that stuff out there - scale it up and it may meet demands: good night planet and thank you if we do IMO :(

Copper nugget CC lecture is the clue.

Regards.

admin's picture
admin
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Posts: 346
Re: US may have far more oil than previously thought

There have been several responses to this claim before on the site.  Just search on the word "bakken" using the search field in the upper right corner, and you will get the following:

I would recommend reading these posts.

Ron

plantguy90's picture
plantguy90
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Posts: 271
Re: US may have far more oil than previously thought

Go to fackcheck or snopes on James Bartis, and you'll see that its a rumor. 

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admin
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Re: US may have far more oil than previously thought
plantguy90 wrote:

Go to fackcheck or snopes on James Bartis, and you'll see that its a rumor. 

As a point of clarfication, Snopes does not say it is a "rumor," but rather that it is a mixture of true and false information:
http://www.snopes.com/politics/gasoline/bakken.asp

There is certainly oil in the Bakken formation, no one questions that.  The key issues have always been quantity, and the cost necessary to extract it.  As csstudent said, there are about 4.3 billion barrels identified in the Bakken formation, which would last the US about one year at current consumption rates.

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