Massive Oil Deposit Could Increase US reserves by 10x

[Praxius]

Yay.... more and longer wars! Horay!!

But in seriousness, perhaps now Canada should keep their oil sands and the US can keep their new found oil and all the other countries can keep their oil.... and all will be good in the world.

Hey, maybe now the US won't have any need for Afghanistan and Iraq and pull out now.

 

[karrie]

And so what if they do that MHz? Isn't it our own responsibility to plan for our own future? I've said it before, I'll say it again... we should be investing heavily in alternative energies, and sell off addictive oil to those who will pay for it. Selling them ours doesn't make it our business what they're doing with theirs.

 

[I think not]

The reserves in the Bakken formation are proven on the Sask side... if you wanted to buy into this reserve now, just do it on the proven side of the fence.... you know, where all the good people live.

*ducks and runs*

;-)

:lol:

I don't mean to burst anyone's bubble, but why do you think the ones who have the power to determine how things will be wouldn't be more inclined to burn up as much oil from outside the States as they possibly can (just to keep it from other countries so they can't become too strong) before tapping reserves that are easily defended?

I would agree with that strategy. Now the ball is in your court.

If there was a strong desire to be independent from 'having' to import crude there would have been some small-scale attempts to develop ways to extract usable products from the Colorado shale deposits. True it is more expensive but some costs, like the amount spent on security of foreign owned oil, would be cut.

Shale deposit extraction hasn't been perfected....yet.

Why do you think alternative energy is not pursued today, profit is one reason, the one publicly given and the not-so public need to deplete foreign oil to a level that keeps the potential for other nations in check. Manipulation of the price/barrel is the basic method until lack of oil determines the price. Some increases come only due to speculation of unemployment figures (or some such trivial crap), or regional instability (which can be just a paragraph in a news article from an 'unnamed source').

Profit for who MHz? the oil companies? The oil companies are a fraction of the economy. There is more money to be made in alternate sources of energy than oil could ever hope for.

But in seriousness, perhaps now Canada should keep their oil sands and the US can keep their new found oil and all the other countries can keep their oil.... and all will be good in the world.

Right that'll happen.

 

[karrie]

Yay.... more and longer wars! Horay!!

But in seriousness, perhaps now Canada should keep their oil sands and the US can keep their new found oil and all the other countries can keep their oil.... and all will be good in the world.

Hey, maybe now the US won't have any need for Afghanistan and Iraq and pull out now.

Uhmm.... sorry to say this, but, Canada can't really afford to develop the oilsands without the companies who are already there, that have already paid for the infrastructure, to continue developing them. And since most are international companies, the flow of oil will continue to cross borders. And the Bakken formation, while it's large, isn't the be all and end all. They can't count just on that. My suggestion for everyone... invest in the little upstart companies that are developing the formation, so that you can afford the peak if it ever hits. :lol:

 

[normbc9]

I reside in the Sacramento River Delta area and am the former Fire Warden for a large county in that region. My office was advised in 1993 that the Delta area had over 200 good oil wells and 1,080 Natural gas wells capped in our area for the use as a strategic reserve at a later date. In a report submitted by the state energy czar in 2002 it again restated that fact and that another 40 wells were schedued and funded to be drilled for the same reserves. Recently an article in the local newspaper written by the manager of the Benicia located Valero Oil Refinery (former Exxon) said the US has enough oil in reserves today to sustain the oil use amounts at the rate we now use them for another 55 years. Go figure! Also, 88% of the US North Slope oil products are exported to the Orient. Oil is a game and a power base. We truthfully don't need it. Our major railraods now use synthetics exclusively. Why not the rest of the transport industry?

 

[Praxius]

Uhmm.... sorry to say this, but, Canada can't really afford to develop the oilsands without the companies who are already there, that have already paid for the infrastructure, to continue developing them. And since most are international companies, the flow of oil will continue to cross borders. And the Bakken formation, while it's large, isn't the be all and end all. They can't count just on that. My suggestion for everyone... invest in the little upstart companies that are developing the formation, so that you can afford the peak if it ever hits. :lol:

Oh yes, I forgot to mention my new system of government which would resolve this.... long story, never mind.

 

[karrie]

Oh yes, I forgot to mention my new system of government which would resolve this.... long story, never mind.

Ah, I see.

 

[MHz]

And so what if they do that MHz? Isn't it our own responsibility to plan for our own future? I've said it before, I'll say it again... we should be investing heavily in alternative energies, and sell off addictive oil to those who will pay for it. Selling them ours doesn't make it our business what they're doing with theirs.

So why didn't anybody listen the first time you said it? Now that you have said it a second time is the reaction going to be different from when you said it the first time?
Say they buy our oil and don't develop theirs, when ours is depleted and they have to develop theirs, is there any guarantee that they will be willing to sell theirs to us at a reasonable cost, or could the simply refuse to sell it (too small a commodity as they just have enough production to meet their own needs) of put the price so high that nobody could afford it (personal use rather than basic industry).
Like it or not we 'little people' do not get to call the shots, we never have and we never will.
Canada choose to sell the raw product rather than a finished one, that comes with consequences.

Shale deposit extraction hasn't been perfected....yet.

I wasn't even aware that any development was being tried?

Profit for who MHz? the oil companies? The oil companies are a fraction of the economy. There is more money to be made in alternate sources of energy than oil could ever hope for.

How much of the economy is tied into oil?
Agriculture would pretty much grind to a halt without fuel and chems that are used on the land.
Manufacturing is dependent on oil, if not directly in that process then in the delivery of the finished product.

Sure there will be lots of money to be made, but the oil industry won't develop it, and they will oppose anybody else developing it, simply because what they now have will be a 'commodity' that will have lost value, and that boils down to dollars basically. They get good returns on their investments, slashing the price in half simply because there is less demand in not in their best interests.

What would work best for a shoe-maker, making a shoe that lasts for 10 years or making one that lasts for 10 months?

 

[Tonington]

I found this image Karrie.

 

[karrie]

Thanks T. I gave up after a while. I couldn't seem to find any that covered the entire basin and not just one state or the other. I don't know what I was doing wrong.

 

[Tonington]

Welcome Karrie

The first image I came across was the same, only showing the ND side, and without any of the geologic structures and features. My geology professor actually worked for an oil company in that area. We had samples of the gook in lab!

 

[Said1]

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. .http://www.nextenergynews.com/news1/next-energy-news2.13s.html

Could, COULD? Don't come here with could. :lol:

 

[I think not]

I wasn't even aware that any development was being tried?

It has, Shell and another company, I forget which, have come up with new technologies that are currently being tested, and they hold promise. Or so they claim anyway.

How much of the economy is tied into oil?
Agriculture would pretty much grind to a halt without fuel and chems that are used on the land.
Manufacturing is dependent on oil, if not directly in that process then in the delivery of the finished product.

Sure there will be lots of money to be made, but the oil industry won't develop it, and they will oppose anybody else developing it, simply because what they now have will be a 'commodity' that will have lost value, and that boils down to dollars basically. They get good returns on their investments, slashing the price in half simply because there is less demand in not in their best interests.

What would work best for a shoe-maker, making a shoe that lasts for 10 years or making one that lasts for 10 months?

Alot of the economy is tied to oil, but I do not believe that's what you were implying, if you were, apologies.

Regardless, oil is a fraction of the "total dollars" of the economy. My point was that much more money can be made in alternate energy resources than oil. Example of this would be GM's billion dollar investment on hydrogen fuel.

 

[karrie]

I wasn't even aware that any development was being tried?

From what I understand (repeat that first part in your head, it deserves to be stressed), Packers Plus has had a virtual monopoly on production equipment for fracking shale deposits for quite a while now. Recently other companies have moved in and are starting to work on these same techniques as well. They're not perfect, but they're pretty darn good.

 

[I think not]

Could, COULD? Don't come here with could. :lol:

Said1, wow, where the HECK have you been darling? :smile:

 

[MHz]

My point was that much more money can be made in alternate energy resources than oil. Example of this would be GM's billion dollar investment on hydrogen fuel.

Here are two articles, a recent one and one about 6 years old.
The older one says, basically, that oil companies weren't interested in supplying hydrogen, they had other directions they wanted to take. It's fine to have the ability to make a car that uses hydrogen but if the fuel isn't there, what's the use? What progress was made in the next 6 years, none.
The later article is looking 40 years in the future.

http://money.cnn.com/magazines/business2/business2_archive/2003/10/01/349458/index.htm
http://money.cnn.com/2008/03/05/news/companies/bigoil_hydrogen/index.htm?section=money_latest
How much of the investments are used to buy up the rights to 'new technologies' that are just being developed. Could they then put them on the back shelves until the oil companies were ready to supply large quantities of suitable fuel?

Hydrogen production isn't all that difficult, you can do it at home, the problem comes from storing it in a safe and usable manner. (small size being one factor). You only have to produce the same amount you would burn up on a day-to-day basis.

One of the drawbacks of the oil-sands is that for every 3 barrels extracted you need to input 2 of those barrels (from previous refining) to do the processing. If you have a field of 3 billion barrels your salable product is still only 1 billion barrels.

 

[EagleSmack]

I found this image Karrie.

Great Map Ton.

We are SO going to be horizontal drilling into Canada. ;-)

 

[MHz]

Great Map Ton.

We are SO going to be horizontal drilling into Canada. ;-)

Just as long as you realize it is going to be a bit more complicated than slant drilling into Iraq from Kuwait.

 

[karrie]

Great Map Ton.

We are SO going to be horizontal drilling into Canada. ;-)

Giddee up Eagle! You'll slant drill, fracture the zone, and we'll have rigs in position waiting to suck it up at your expense. lol.

 

[lone wolf]

Don't let the colours fool you. The oil fields are defined by the dotted line. On that anticline is where it's pooled.

Woof!