4.3 billion barrels of oil in South Dakota

Someone on here mentioned some time ago that there was oil in S. Dakota and Montana but I was thinking that it was shale oil, apparently it isnt all shale
The now claim that there is around 4 and a half
billion barrels of oil in this area and they have already started pumping some of it out.

BISMARCK, N.D. — The government estimates up to 4.3 billion barrels of oil can be recovered from the Bakken shale formation in North Dakota and Montana, using current technology.

The U.S. Geological Survey calls it the largest continuous oil accumulation it has ever ass

Source

"That's a lot of zeros," Kessel said Thursday.

Kessel said his company was the first to get a producing well in the Bakken in North Dakota three years ago. The company now has about 20 producing wells.

The report released Thursday by USGS was done at the request of Sen. Byron Dorgan, D-N.D., over the past 18 months.

A study by the USGS in 1995 found 151 million barrels of oil could be recovered from the Bakken using technology at that time.

"This is great news," Dorgan said of the new report. "This is 25 times the amount of the previous assessment."

[edit on 4/11/2008 by Kr0n0s]

This should be bigger news, IMO. Sadly, keeping it hush hush will allow big oil to keep killing us slowly with these gas prices.

How the hell haven't we dug into our own soil yet? It could help us deflect the coming economic catastrophe. But I guess the people in charge won't see a difference in lifestyle either way.

well i live in So. Dak so hopefully my house and land has this so called oil beneath it. I think its kind of smart in the end tho that we dont drill our own oil and use others.

From what I've read The Bakken has a lot more oil than 4.3 billion barrels. It could be anything from 200 Billion barrels to 900 Billion barrels! People are waiting on the final surveys to know exactly how much there is.

LINK

It has become more significant as the USA has only recently developed the technology for horizontal drilling (which apparently what is needed to get the oil out from The Bakken).

I'm just curious about how domestic oil prices are adjusted by comparison to imported. Seems as if the refineries aren't passing on the savings so much. But without all of these figures, who can tell except our wonderful lobbied members of government with oil shares?

tonto.eia.doe.gov...

tonto.eia.doe.gov...

South Dakota is already on the list. There's monthly and anual. No matter how we look at it, we're getting robbed anyway. If middle east countries are sharing the oil profits with their people, than where's ours? Oh boy, stock market shares for a few. This oil belongs to the people in this country. It should be nationalised and than phased out. There's always plenty of greed to go around.

[edit on 11-4-2008 by aleon1018]

Word out of Washington is the Bush Administration is currently drafting plans to "liberate" South Dakota.

Sorry, cheap shot. It should be noted I'm a registered Republican and voted for Bush in the past two elections.

Lol What about the Lakota Indians. How much of that oil belongs to them?

All ,half or none?

Does anyone know if the horizontal drilling couuld negatively impact the surface? Oh, you know, sinkholes and such???

I'd check myself, but honestly, I am being lazy and about to head to bed.

I agree that it is a good Idea to have our own stock in our own land, as a savings account. I believe that the focus should not be on drilling for more, but on alternative fuels. BUT, we need to remember that oil is not used for fuel alone.

Then, there is the potential for jobs out there (I was listening to The Ed Schultz Show today about this).

(4/11/2008)
Friday on The Ed Schultz Show!

David Shuster, of MSNBC, joined the 2nd hour of Friday's show.

Sen. Byron Dorgan, D-ND, joined the 2nd hour of Friday's show to discuss the a new and major oil find in North Dakota.

Ron Ness of the North Dakota Petroleum Council joined the 3rd hour of Friday's show to discuss a major oil find in North Dakota.

Dave Cermak with CA40 joined the 3rd hour of Friday's show to discuss the fuel additive that works.

----------------------------------

I even contemplated the idea of relocating (I am sure they'll need more mechanics (hubby) and people in the Nat. Resource Cons. field (me) out there too. The economy is getting REALLy hard here in MI.

Originally posted by DalairTheGreat
All ,half or none?

Probably none... I doubt they were given mineral rights. And same goes to the one hoping there is oil under his house... check to see if mineral rights are included on your deed...

But than slant drilling could fix that too.... they just slant drill under your house from next door...



[edit on 12-4-2008 by zorgon]

Originally posted by enigma77BUT, we need to remember that oil is not used for fuel alone.

Yup quite true... all those plastics we cannot live without... from milk jugs to cell phones

They pump oil out in Long beach wells all over town... seems the oil there floats on water... city of Long beach started sinking... until they pumped sea water back in to replace the oil

I think this is way too weird, something just isn't right. Does anybody here really think that they didn't know about THAT MUCH oil. Enough to reduce our foreign energy dependency, which would be good but then think about your world changing from these new conflicts.

This must be the first step...

Foreign energy 'dependency' is good... use up theirs' save ours... and if they give us any trouble, we can bomb the crap out of them and make them pay us with oil for being nice enough to send in Haliburton to rebuild their country

Gotta put it all in perspective... and as long as people think there is a 'shortage' due to the war... they will not gripe too much about inflated prices at the pumps...

People have short term memories...

they forget that we NEVER got a drop of oil from Iraq..
they forget that OPEC LOWERED the price at the onset of the war in Iraq because they were afraid what might happen
they forget that Exxon (formerly Standard Oil) showed record EVER quarter profits just after the war broke out...
they forget that Prescott Bush and the Rockefellers with Standard Oil funded the NAZI's to power (they received sanctions... so its now history)


We cry NWO but all I see is the Old World Order doing business as usual

I have driven through many states... one thing I noticed is the large number of CAPPED wells all over the country... with only a pump or two keeping the pressure under control...

I wonder if there is a list somewhere of how much is in reserve by state? I bet its more than we realize

WOW! 4.3BILLION barrels in South Dakota! Heck, its too bad though that the big oil companies will still continue to resrict the supply just to further screw us over.

Originally posted by seeker83
WOW

! 4.3BILLION barrels in South Dakota! Heck, its too bad though that the big oil companies will still continue to resrict the supply just to further screw us over.

Its OPEC that controls the supply of oil, not the companies. Apart from that, what's so big about this news? Oil is sold on the world market where everyone has access to it, China included. They keep purchasing more and more.

We have to find a substitute for fossil fuels, and I would not be surprised if they've already found a solution, however, oil is too profitable to let go yet and it's also a political tool.

reply to post by zorgon



On another note:

Those behind the energy conspiracy in California were posers compared with what the oil industry is capable of. Yet they both shared/share the same methodology. There are many ways to make a buck, but skillful manipulation of public perception and of the energy market can turn a buck into thousands.....same story, different day.

Personally, I do not subscribe to the peak oil theory that so many seem to be fearful of. I believe oil is a byproduct of forces within the earth. The notion of scarcity suits oil industry bank accounts much better than it does reality. We most certainly have the ability to pump an oil resource dry, but it is my understanding that oil is replenished over time. Much like lava rises to the surface at times, so does oil. Just my own thoughts, though many here may disagree.

Edit: SP

[edit on 12-4-2008 by SystemiK]

reply to post by zorgon


lol explain to me how you plan on "slant drilling" rocks? ..

Shale is a brittle rock that forms in layers, usually out of sediment from lakes, rivers and so forth. It can also be produce from lakes, seas and so on with the decay of animals mixed in, making it a biological rock formation .. which is what oil shale is.

The rock has to be extracted .. there is no "well" .. and the mining of these rocks will lead to SD being a environmental wasteland.

So if we find a couple billion barrels of oil and we use 21 Million barrels a day... How is that so exciting? We found a supply that will last a few days of use at 2006's consumption rate.

4.3 billion barrels divided by a daily consumption of around 80 million barrels per day gives by my rubbish mathematical logic approx 53 days supply of oil.

The United States has a daily consumption of about 20 million barrels so make that about 200 days supply for the US.

Whoooppeee!

source

[edit on 12-4-2008 by uknumpty]

[edit on 12-4-2008 by uknumpty]

All of it belongs to the Lakota People.

In particular, all of it belongs to the Sovereign Republic of Lakota.

Any other opinion as far as I am concerned is only the product of Manifest Destiny bearing evil fruit through U.S. American racist policies against the First Nations/Amerindians and thereby polluting the thinking processes of otherwise good-hearted U.S. citizens.

I had actually heard that there were huge supplies of shale oil in this area and Colorado a few years ago.
There is also a huge amount of oil sands in parts of Canada but the extraction and especially the refining process requires a lot more work and money than ordinary sweet or even sour crude.d
I had even bought several shares of stock in some companies that extract the oil but the stocks were a bust.
Im pretty sure that the technology has improved quite a bit over the last few years though, this would increase the profits and make it more attractive for companies to jump on board.

[edit on 4/12/2008 by Kr0n0s]