Spock: USGS- Only 4.3 B recoverable from the Bakken
Posted: Thu Apr 10, 2008 9:06 pm
http://www.msnbc.msn.com/id/24057222/
That's disappointing. The article spins this as a high number, and it is indeed a large find as far as current discoveries have been going, but let's put it in perspective.
The world consumes ~31 billion barrels of oil a YEAR (America consumes 8 billion of those).
So a field of only 4.3 billion barrels will do little to ease pain at the pump.
Don't know whether there's still money to be made, though for you, Spock- the link here said the oil can be drilled profitably when oil is $50/barrel, so maybe your investment would still yield something.
That's disappointing. The article spins this as a high number, and it is indeed a large find as far as current discoveries have been going, but let's put it in perspective.
The world consumes ~31 billion barrels of oil a YEAR (America consumes 8 billion of those).
So a field of only 4.3 billion barrels will do little to ease pain at the pump.
Don't know whether there's still money to be made, though for you, Spock- the link here said the oil can be drilled profitably when oil is $50/barrel, so maybe your investment would still yield something.