400 billion barrels of oil in Western North Dakota

[TheBisonator]

(The title should be "400 billion barrels of oil in Western North Dakota???", but there wasn't enough room in the subject line.)

Apparently a late member of the USGS thought so, and now Senator Dorgan wants further study.

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N.D. oil could top Alaska’s
Associated Press
Published Wednesday, June 21, 2006

BISMARCK – A government geologist who estimated that western North Dakota has more oil than Alaska’s Arctic National Wildlife Refuge died before other scientists could review his study.

Sen. Byron Dorgan, D-N.D., now wants Leigh Price’s work revisited.

Price, who worked for the U.S. Geological Survey, published a study in 1999 that estimates the Bakken formation may hold up to 400 billion barrels of oil.

The Arctic refuge oil reserve is estimated at 16 billion barrels.

Price died in 2000.

Dorgan is pushing the federal agency to complete scientific work on Price’s paper as part of a national inventory of the nation’s oil resources.

The Bakken formation is being developed in North Dakota and Montana. But Dorgan said the study could spur even more oil development.

More at: http://www.in-forum.com/articles/index.cfm?id=130664&section=Business

[insane_ponderer]

So what you are saying is now would be a good time to buy a bunch of land out west ?? ;)

[sambini]

OR THE MINERAL RIGHTS++++++++++

[MplsBison]

But in what form?

If it's in the rocks, it's going to be expensive to get it out.

[TheBisonator]

But in what form?

If it's in the rocks, it's going to be expensive to get it out.

That's why Dorgan wants to study it more.

[TheBisonator]

Think about this:

400 billion barrels of oil is about the equivalent of $35 TRILLION DOLLARS worth of oil.

;D ;D ;D ;D ;D ;D

(I think it's probably not that much in the formation.)

[MplsBison]

If it's in the rocks (like I think it is), it's not going to be such a big deal.


It'll be cheaper for the oil companies to buy from the middle east than to try and extract it from ND without massive government subsidies.

[TheBisonator]

If it's in the rocks (like I think it is), it's not going to be such a big deal.


It'll be cheaper for the oil companies to buy from the middle east than to try and extract it from ND without massive government subsidies.

I know, that's why I said they need to study it more. They have to know if a lot of that stuff can be extracted easily.

[TheBisonator]

Here's another thing:

30 years ago, the oilsands up in Northern Alberta were useless, because the technology did not exist to extract oil from the sand and bitumen that was just lying around.

Now 30 years later, that region is a bonanza, to put it lightly. Foet MacMurray, Alberta is the fastest-growing town in Canada, and both Calgary and Edmonton's populations have boomed. It's an oil party up there. That's because the extraction technology now exists to seperate the oil from the sand.

Even if it is in the rocks, in the future, technology could come around to make the Bakken Formation extraction efficient and profitable like they did with the Alberta Oilsands.

[MplsBison]

Sure.

Hopefully, by then, we'll be using nuclear technology to generate the electricity that powers our homes and cars.

[TheBisonator]

Sure.

Hopefully, by then, we'll be using nuclear technology to generate the electricity that powers our homes and cars.

Or better yet, wind.

[Swaghook]

Sure.

Hopefully, by then, we'll be using nuclear technology to generate the electricity that powers our homes and cars.

Or better yet, wind.

Only when it's blowing. You still need a reliable secondary source.

[RodentiaX]

Wind power is a great source of hydrogen fuel. You don't mine hydrogen, you have to get it somewhere else. Wind power can be used to split water into hydrogen and oxygen, and then the hydrogen can be used to power hydrogen-burning cars, and to supply power when the wind isn't blowing.

[roadwarrior]

Thats enough oil to get me to Bison games for the next couple of decades ;D

[MplsBison]

I don't know about burning hydrogen.


But I agree with using a hydrogen fuel cell to make electricity for an electric car.

[runtheoption]

Sure.

Hopefully, by then, we'll be using nuclear technology to generate the electricity that powers our homes and cars.

Or better yet, wind.

Only when it's blowing. You still need a reliable secondary source.


Darn. *Too bad the wind never blows in ND to make this a viable energy source.

[Swaghook]

I didn't say wind energy is not a viable energy source just pointing out that you still need a secondary source as a suplement. And we need more transmisson capacity, which is the greatest obstacle to wind energy development in ND.

[WYOBISONMAN]

If it's in the rocks (like I think it is), it's not going to be such a big deal.


It'll be cheaper for the oil companies to buy from the middle east than to try and extract it from ND without massive government subsidies.


All oil is in a rock or a sandstone type formation. It isn't like a big pool under the ground. The question is how tight is the formation...

[broke_back_mnt]

I agree Wyo. Its a question between total reserves and recoverable reserves. They are very good at recovery.

[MplsBison]

All oil is in a rock or a sandstone type formation. It isn't like a big pool under the ground. The question is how tight is the formation...

I think my point is that even if you have a billion barrels, none of them will get drilled if it's cheaper for them to buy it from the Saudis for 75 dollars.