Peak Oil is BS

Just in one US oil formation alone, we have:

North Dakota and Montana have an estimated 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in an area known as the Bakken Formation.

A U.S. Geological Survey assessment, released April 10, shows a 25-fold increase in the amount of oil that can be recovered compared to the agency’s 1995 estimate of 151 million barrels of oil.

Technically recoverable oil resources are those producible using currently available technology and industry practices. USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources.

New geologic models applied to the Bakken Formation, advances in drilling and production technologies, and recent oil discoveries have resulted in these substantially larger technically recoverable oil volumes. About 105 million barrels of oil were produced from the Bakken Formation by the end of 2007.

And we have all that oil in Alaska they won’t let us tap, and off the coasts of America. Energy independence requires the will and non-ideological cranks in government.

Loading Facebook Comments ...

2 Comments

  1. The whole “peak oil” thing makes my head hurt every time I see it. It’s simply another of those retarded media talking points that will never go away, it seems. I worked in the oil patch in Alberta until I left for the US, so I know something about the oil business.
    The main point to realize is this: at some point, the oil companies quit looking for oil. I mean, if they kept exploring and buying leases and running shotlines forever, eventually that would eat up all their profits. They like to keep a nice lead on things, but there are fantastically large areas under lease (not to mentioned the unleased land) that have never even been explored.
    When they feel they need to nail down some more reserves, they go looking for it, and unsurprisingly, find it. This is why you’ve been hearing that stupid “oil companies only have 20 years of reserves left” line every year for 45 years. There will always only be about 20 years KNOWN (a word that is inevitably left out by the media) reserves left, because no one is bothering to look for more beyond that. It doesn’t make financial sense.

  2. Apparently they started making the “we’re running out of oil” story in the 1930s! We have all this oil off the coasts of California the idiots in the State and Federal govt won’t touch. In fact, your imbecilic egotist of a mayor is bragging how he is replacing oil derricks that already exist with tide farms. http://tinyurl.com/dagjxr

    You want to talk about environmental impact? Tide farms are like wind farms. They kill a lot of wildlife.

Leave a Reply

Your email address will not be published. Required fields are marked *