mlhm5 Posted March 30, 2008 Share Posted March 30, 2008 "A survey from AAA, released this week, suggests that gas mileage has become the number one consideration for American consumers in choosing a new vehicle—even more important than which automaker produces the car or truck." Link So how high does the price of gas have to go before people walk away from their Hummers as they are their homes? Just kidding. BTW, I just paid $3.88 for heating oil which has no taxes. Quote Link to comment Share on other sites More sharing options...
Michael Reynolds Posted March 30, 2008 Share Posted March 30, 2008 I think this is rather obvious information. Quote Link to comment Share on other sites More sharing options...
P71_CrownVic Posted March 30, 2008 Share Posted March 30, 2008 In a related story, 200 BILLION barrels of oil is under North Dakota, South Dakota, and Montana. Massive Oil Deposit Could Increase US reserves by 10x America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant. In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation that covers North Dakota and portions of South Dakota and Montana. With new horizontal drilling technology it is believed that from 175 to 500 billion barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951. The USGS did an initial study back in 1999 that estimated 400 billion recoverable barrels were present but with prices bottoming out at $10 a barrel back then the report was dismissed because of the higher cost of horizontal drilling techniques that would be needed, estimated at $20-$40 a barrel. It was not until 2007, when EOG Resources of Texas started a frenzy when they drilled a single well in Parshal N.D. that is expected to yield 700,000 barrels of oil that real excitement and money started to flow in North Dakota. Marathon Oil is investing $1.5 billion and drilling 300 new wells in what is expected to be one of the greatest booms in Oil discovery since Oil was discovered in Saudi Arabia in 1938. The US imported about 14 million barrels of Oil per day in 2007 , which means US consumers sent about $340 Billion Dollars over seas building palaces in Dubai and propping up unfriendly regimes around the World, if 200 billion barrels of oil at $90 a barrel are recovered in the high plains the added wealth to the US economy would be $18 Trillion Dollars which would go a long way in stabilizing the US trade deficit and could cut the cost of oil in half in the long run. Link Link 2 Quote Link to comment Share on other sites More sharing options...
mettech Posted March 30, 2008 Share Posted March 30, 2008 Don't drill. Quote Link to comment Share on other sites More sharing options...
silvrsvt Posted March 30, 2008 Share Posted March 30, 2008 Don't drill. Why not??? Quote Link to comment Share on other sites More sharing options...
FoMoCobra Posted March 30, 2008 Share Posted March 30, 2008 Don't drill. I would have to agree. I think any such deposits should be "reserve" only... Just my opinion. Quote Link to comment Share on other sites More sharing options...
mlhm5 Posted March 30, 2008 Author Share Posted March 30, 2008 I think this is rather obvious information. Now confirmed by AAA. Quote Link to comment Share on other sites More sharing options...
mlhm5 Posted March 30, 2008 Author Share Posted March 30, 2008 Quote Link to comment Share on other sites More sharing options...
P71_CrownVic Posted March 31, 2008 Share Posted March 31, 2008 Why not??? Apparently they like paying $3.00+ a gallon. Quote Link to comment Share on other sites More sharing options...
armadamaster Posted March 31, 2008 Share Posted March 31, 2008 (edited) The New #1 Reason For Buying A Ford Or Any Car Huh....well how about that....because for the last 15 years or so the #1 reason has been "because the neighbors have one". Edited March 31, 2008 by Armada Master Quote Link to comment Share on other sites More sharing options...
Michael Reynolds Posted March 31, 2008 Share Posted March 31, 2008 Now confirmed by AAA. OK, but hasn't fuel economy been hashed, re-hashed and warmed up in 300 other threads? Quote Link to comment Share on other sites More sharing options...
bri719 Posted March 31, 2008 Share Posted March 31, 2008 Apparently they like paying $3.00+ a gallon. translation: $3.50+ if you're one out of every eight in U.S. that live in California. just had to do the usual conversion for us folk Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted March 31, 2008 Share Posted March 31, 2008 Apparently they like paying $3.00+ a gallon. Long as there's no more capacity to refine it, what would be the point? It would still cost a fortune to us anyway. Quote Link to comment Share on other sites More sharing options...
Hemiman Posted March 31, 2008 Share Posted March 31, 2008 In a related story, 200 BILLION barrels of oil is under North Dakota, South Dakota, and Montana. Link Link 2 Here's another. http://www.willistonnd.com/usrimages/Bakken.pdf Quote Link to comment Share on other sites More sharing options...
jaydez Posted March 31, 2008 Share Posted March 31, 2008 But the Mr. Fusion will only power the Flux Capcitor. You still need gasoline to power the internal combustion engine to get the Delorian up to 88 miles per hour and there wont be a gas station around here a while. Quote Link to comment Share on other sites More sharing options...
SVT_MAN Posted March 31, 2008 Share Posted March 31, 2008 (edited) It probably doesn't matter if we add a ton of capacity or drill more. OPEC will find a way to eventually raise the prices higher and higher. This whole thing is a game. OPEC has been slowly increasing the prices up, and up, and up. Sure, China and India are using more oil. Big deal. There is a ton of oil in the world. Capacity could be added too. It really doesn't matter though. The OPEC members use oil to fund terrorists and fundamentalists worldwide. Saudi Arabia and Kuwait, defended and directly fought for by the United States, steer the oil racket. The only way, in my opinion, to stop high oil prices is to get rid of OPEC. Remember 7 years ago? We would have been shocked to pay $3.00 per gallon. But now we are used to it. Now prices are creeping up to the $4.00 per gallon mark - if not already there. OPEC gradually raises prices, keeps them there, and then maybe even lowers them for a time period, and then they start creeping up again. This whole thing is game being played with our psyches to condition us to pay for higher and higher gas prices. Three years from now, we'll probably be paying $5.00 per gallon or maybe even $6.00 per gallon and still nothing will be done. We are victims of our own reticence. It will be interesting to see if any of the emergent technologies will actually bring us a viable alternative to gasoline. My guess is it won't matter though. Politicians and other lobbyists, I believe, pay off people who find these emergent technologies to keep quiet about them so oil companies can tick along as they always have. How many politicians, Republican OR Democrat really care about high oil prices? They can afford them - why should they care? Politicians from both sides are part of a tight-knit group of elites that actually represent the common American very poorly. Breaking OPEC would lower the oil prices. Countries like Russia would rush to sell America oil - former OPEC members will also resume the supply, but at lower prices. Then again, a current OPEC member might ban export to our country and it could backfire. This is a very sensitive area, unfortunately. Edited March 31, 2008 by SVT_MAN Quote Link to comment Share on other sites More sharing options...
92merc Posted March 31, 2008 Share Posted March 31, 2008 In a related story, 200 BILLION barrels of oil is under North Dakota, South Dakota, and Montana. The oil boom has been a huge tax windfall for our state government. We're looking at about 600 million in surplus right now. Next legislative session, I see schools getting a lot, plus the roads since trucks are now shipping oil and tearing them up. But right now the big problem is ND has no way to get the oil down the road. Pipelines are full. They're having to ship, and that then puts about a $15-20 penalty on the current price of oil. One thing that the state is looking at is building their own state owned gas refinery. Our state already owns a flower mill and a bank. If the refinery happens, we'll be exporting a lot of gas. Even talk about the refinery and oil tax profits making not only enough for no state income tax, but even no state tax on gas. Plus they'd sell the gas at minimal profits in state. So we could be cheapest in the nation on gas prices. Coupled with some coal power plant tech that's reducing carbon, or injecting carbon back into those oil formations. Then we have a lot of wind, best in the nation. ND could become a major energy powerhouse in the next 20 years. Oh, and we still have a lot of oil left in our "regular" oil formations that hasn't been tapped. Again, pipeline issues... Quote Link to comment Share on other sites More sharing options...
Edstock Posted March 31, 2008 Share Posted March 31, 2008 (edited) That's good news. It means that if there is the political will, the US will not have to import any oil. That will go a long way to strengthening the American economy. Edited March 31, 2008 by Edstock Quote Link to comment Share on other sites More sharing options...
P71_CrownVic Posted March 31, 2008 Share Posted March 31, 2008 But the Mr. Fusion will only power the Flux Capcitor. You still need gasoline to power the internal combustion engine to get the Delorian up to 88 miles per hour and there wont be a gas station around here a while. Close...but you butchered the quote pretty badly... Quote Link to comment Share on other sites More sharing options...
jaydez Posted March 31, 2008 Share Posted March 31, 2008 Close...but you butchered the quote pretty badly... yeah, I know. Its been over 3 months since I last watched Part III Quote Link to comment Share on other sites More sharing options...
J-150 Posted April 1, 2008 Share Posted April 1, 2008 yeah, I know. Its been over 3 months since I last watched Part III I don't know if that's something I would want to admit publically Quote Link to comment Share on other sites More sharing options...
matthewq4b Posted April 1, 2008 Share Posted April 1, 2008 As it stands now the feild is massive and the oil is not densly concentrated and the sub strata is not very permeable. It is not that horizontal drilling has come down in price (it has not) but the cost of conventional drilling has gone up drastically in comparision. A well that used cost a Mill to punch now is costing 10 times that. And most all the drill rigs in Canada are Horzontal capable now where as 10-15 years ago very few were. Most all new oil wells drilled here are of the Horizontal type. The big question remains where is the the most dense concentration of the oil ? Does it lay in Canada or the U.S. Since Sask is already pulling Light sweet crude from above the formation there is a better than average chance that it migrated there from this deeper formation. As I said before there is no shortage of Oil in NA never has been. There has been a shortage of tech to get at the stuff. And oil sand investment has been critical to help delvelope the tech needed to get at the other stuff. As we have een saying for decades up here. The Oil Sands are a gaurenteed return on investment because of this it breeds R&D to lower costs and boost yeilds. The tech that will be needed to get at this Oil will require the use of tech developed for the Oil Sands. The big question is are the concentrations great enough and the substrata permeable enough to make it economically viable to recover the bulk of the crude. If we had, had massive U.S investment in the oil sands 30 or even 20 years ago this would be a non issue as we would have the tech avalible to get at the stuff. But the U.S chose to concentrate on middle east supplies instead. I notice some of the numbers given on reserves on the second link are pretty bang on. The Background reserch and sources quoted seem to be pretty reputable and reliable nice to see for a change. The microwave tech is a dead end as far as i'm concerned as it still requires large amounts of super heated solvents to be injected in to the formations. An ecological land mine if you ask me. THAI is a much more beneign method of extraction. All NA should be thankfull that Canada and especially Alberta forged ahead with Oil Sand developemnt in the face of ridcule and and lack of interest and investment from U.S big oil. There is a reason the Yanks call it Tar Sand and not Oil Sand as that is what they thought of it as.... TAR and was about as usefull as that for making motor fuel. The tech developed here may very be responsible for pulling the U.S's ass from the fire in regards to crude supplies. All because of a crude source the Americans felt was worthless and not worth the investment. Maybe next time the powers that be will listen to the little nation in the north. Matthew Quote Link to comment Share on other sites More sharing options...
Noah Harbinger Posted April 1, 2008 Share Posted April 1, 2008 It probably doesn't matter if we add a ton of capacity or drill more. OPEC will find a way to eventually raise the prices higher and higher. This whole thing is a game. OPEC has been slowly increasing the prices up, and up, and up. Sure, China and India are using more oil. Big deal. There is a ton of oil in the world. Capacity could be added too. It really doesn't matter though. The OPEC members use oil to fund terrorists and fundamentalists worldwide. Saudi Arabia and Kuwait, defended and directly fought for by the United States, steer the oil racket. The only way, in my opinion, to stop high oil prices is to get rid of OPEC. Remember 7 years ago? We would have been shocked to pay $3.00 per gallon. But now we are used to it. Now prices are creeping up to the $4.00 per gallon mark - if not already there. OPEC gradually raises prices, keeps them there, and then maybe even lowers them for a time period, and then they start creeping up again. This whole thing is game being played with our psyches to condition us to pay for higher and higher gas prices. Three years from now, we'll probably be paying $5.00 per gallon or maybe even $6.00 per gallon and still nothing will be done. We are victims of our own reticence. It will be interesting to see if any of the emergent technologies will actually bring us a viable alternative to gasoline. My guess is it won't matter though. Politicians and other lobbyists, I believe, pay off people who find these emergent technologies to keep quiet about them so oil companies can tick along as they always have. How many politicians, Republican OR Democrat really care about high oil prices? They can afford them - why should they care? Politicians from both sides are part of a tight-knit group of elites that actually represent the common American very poorly. Breaking OPEC would lower the oil prices. Countries like Russia would rush to sell America oil - former OPEC members will also resume the supply, but at lower prices. Then again, a current OPEC member might ban export to our country and it could backfire. This is a very sensitive area, unfortunately. Remember that half of the increase in the price of oil is because Americans were stupid enough to elect a president and congress who would allow years of previously unimaginable deficit spending, which absolutely pummeled the value of the dollar and sold our future to the Chinese. Russia doesn't particularly like us right now. The government is pushing an anti-American propaganda campaign. Have you tried reading any web sites with a high native Russian population? Have you read their posts? They giggle in glee at the thought of a new oil embargo against the US. It's only capitalistic greed which has prevented them from doing so already. Quote Link to comment Share on other sites More sharing options...
matthewq4b Posted April 1, 2008 Share Posted April 1, 2008 Remember that half of the increase in the price of oil is because Americans were stupid enough to elect a president and congress who would allow years of previously unimaginable deficit spending, which absolutely pummeled the value of the dollar and sold our future to the Chinese. Russia doesn't particularly like us right now. The government is pushing an anti-American propaganda campaign. Have you tried reading any web sites with a high native Russian population? Have you read their posts? They giggle in glee at the thought of a new oil embargo against the US. It's only capitalistic greed which has prevented them from doing so already. The arabs jacking the price are only hastening their demise. As the price goes up nonconventional crude sources become more economically viable (which NA has in abundance). Canada did not become the U.S's single largest crude supplier because of low oil prices. Let them keep it jacked it is just going to end thier hold on NA Crude supplies that much faster. Then we can all breath a sigh of relife once they are gone and NA is once again crude self sufficiant. Matthew Quote Link to comment Share on other sites More sharing options...
92merc Posted April 10, 2008 Share Posted April 10, 2008 In a related story, 200 BILLION barrels of oil is under North Dakota, South Dakota, and Montana. Link Link 2 Since this is from my state and discussed here, I thought I would give an update on the Bakken oil formation. The updated prediction isn't 200 billion barrels. Only 4.3. http://www.bismarcktribune.com/articles/20...79995290929.txt Quote Link to comment Share on other sites More sharing options...
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