North Dakota, #4

[hillclimber]

Article on the Bakken:

http://online.wsj.com/article/SB10001424...hp_editorsPicks

They're using the same techniques here as in many gas shale plays, horizontal drilling + fracing. Or is it 'fracking'?

 

[Panzerman]

The cure for a bad economy is right in front of us. If we spent as much time getting the oil as we spend worrying about using it all. We would have more than we could ever use. We could fix our economy overnight if we would just exploit our resources. Even if there was a limited amount of oil in the Earth(and I havent seen enough proof of that)Use it. When its gone, then switch to a alternate source, that Iam sure will be avaiable, probably from the same people that brought you the gas and oil. You really think they dont already have the competetion for thier own industry bought up and locked up in a nice safe place to use when they need it.

 

[lewdwig]

Originally Posted By: Panzerman
You really think they dont already have the competetion for thier own industry bought up and locked up in a nice safe place to use when they need it.


That's what I used to think about GM.

A lot of guys from where I grew up went to the Rifle, CO area in the late 1970s to work in the oil shale business (they were miners). After about three years that went bust and they came home.

 

[Samilcar]

"...new production from the Bakken Shale, combined with other big oil discoveries in California and the Gulf of Mexico, helped U.S. oil production rise last year for the first time since 1991, according to U.S. government figures."

That's an interesting little tidbit of information. Production rising while at the same time demand is dropping. If it wasn't for China's insatiable appetite for oil, we'd have one heck of an oil glut (and price collapse) on our hands.