It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by NovusOrdoMundi
reply to post by uknow_me72
The major oil nations will not be running out of oil anytime soon.
It has already been proven that demand outstrips supply. THIS IS CALLED PEAK OIL"
There may be many oil feilds that have not been tapped into but to get it you will be burning more then what will be pumped out of the ground.
What oil is left will become harder to refine so the price will increase because of running cost to get it.
[edit on 5/28/08 by NovusOrdoMundi]
Originally posted by SystemiK
Just for clarification, this oilfield was discovered back in 1951. It's only been "rediscovered' by the media since the booming oil prices have made it economically attractive to drill there. On the downside, pipelines and refineries need to be built before this area can be fully utilized. Something that will take time and plenty of money.
This resource will be a great boon to the US but you need to understand that it will be years before the bakken field can even put a dent in our oil imports.
Originally posted by Bunch
The issue with drilling in this area and the oil shale of Colorado is that is not cost effective.
Like other people have said this has only come back to life because oil prices are soaring and its only now that is becoming a viable option. Any kind of annoucement to star drilling in these two areas combined with declining demand and people changin their habits would certainly lower the prices of oil to the range in which these two projects would become once again not cost effective, and you should probably add to that that OPEC would make sure that they saturate the market with oil just to make sure this would not happen.
Oil is the past, get rid of it.
But what about the wildlife in North Dakota and the people living there? What about the air and the fifth the oil would bring to the state? What about living green and keeping our beautiful country beautiful?
What about that
I say get out the drills and start the motors and get ready! tooo RUMBLE!
But what about?
Originally posted by WhatTheory
Originally posted by centurion1211
Depends on whether the eco-nazis can come up with a reason why we can't drill in North Dakota. BTW, I've been there and it should be OK to drill there.
You are correct about the eco-nazis.
It should be ok to drill anywhere within the U.S. and it's waters.