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| New Boom Reshapes Oil World, Rocks North Dakota |
| 2011-09-30 |
| h/t Instapundit ...Two years ago, America was importing about two thirds of its oil. Today, according to the Energy Information Administration, it imports less than half. And by 2017, investment bank Goldman Sachs predicts the US could be poised to pass Saudi Arabia and overtake Russia as the world's largest oil producer. The real WOT |
| Posted by:g(r)omgoru |
| #12 Look at all the years of media attention, books written, subjects taught, money spent in research and development. Taxes, elections, many many government regulations and only now the pot is boiling over. I can see how the world is flat crowd got away with that for so long. Well, better late than never. |
| Posted by: Dale 2011-09-30 23:35 |
| #11 We are projected to be VERY busy in North Dakota and the other neighboring states exploring the Bakken for at least 3-4 more years if not more. That was the figure thrown out before USGS stated the bakken was 2.5 times bigger than originally thought. What's even scarier is that the boom is JUST BEGINNING. The number of rigs this year is expected to be at least 100+ more than last year. Southern crews best listen to the Northern hands telling them about the weather, it CAN and WILL kill you fast otherwise. |
| Posted by: Silentbrick - Halliburton Lost Drill Bit Division 2011-09-30 19:36 |
| #10 I'm fairly sure that this article is in gross error. We still import about 63% of our oil. The situation in North Dakota is helping out a lot, but we also have the shortfall in the Gulf, which is bad and will be getting worse. Glenmore probably has more exact figures handy, if he ever comes along today. |
| Posted by: Thing From Snowy Mountain 2011-09-30 15:20 |
| #9 Oh dear. I wonder where those fools who believed in peak oil (amongst other stupidity) have gone to now? Climate change. |
| Posted by: Steve White 2011-09-30 14:02 |
| #8 Peak oil is not about running out of anything. It's about how hard / expensive oil is to locate, extract, and deliver. It's still a theory, but national economies can get away with ignoring the theory at their peril. That half BILLION Obama wasted on Solyndra - how much good would the same investment have done in say, researching thorium reactors that could lead to converting US coal into US diesel fuel? |
| Posted by: Anguper Hupomosing9418 2011-09-30 12:05 |
| #7 I suspect global warmening has siphoned off a lot of the fools. But the peak oil guys have a point. We rely on oil to run our machines and light our houses. Demand is steadily increasing and there are only so many whales in the world. Eventually, we *will* run out of whale oil. |
| Posted by: SteveS 2011-09-30 11:56 |
| #6 Oh dear. I wonder where those fools who believed in peak oil (amongst other stupidity) have gone to now? |
| Posted by: Bright Pebbles 2011-09-30 11:31 |
| #5 Hence the term.... "oil exploration." |
| Posted by: Besoeker 2011-09-30 11:05 |
| #4 some geologists are convinced mother earth is actually PRODUCING oil and gas I'm sure. The main questions for oil production are, how much and where is it? |
| Posted by: Anguper Hupomosing9418 2011-09-30 10:59 |
| #3 The United States has been....... "running out of oil" since the 1950's. Truth be known, some geologists are convinced mother earth is actually PRODUCING oil and gas as we speak! |
| Posted by: Besoeker 2011-09-30 10:42 |
| #2 All your oil market are belong to us! |
| Posted by: DarthVader 2011-09-30 10:28 |
| #1 I've been saying for years that there are still vast amounts of hydrocarbons underground and improving technology (and higher prices) will progressively make them available. Australia is going through a coal seam gas boom and the UK has discovered more shale gas under a single county than there is projected recoverable gas in the North Sea. |
| Posted by: phil_b 2011-09-30 09:46 |