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Reply by Damian Penney

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Posted on A Must Read !!!! Oil In our country

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Damian Penney

1140 posts in 2680 days


#1 posted 04-21-2009 07:23 PM

http://en.wikipedia.org/wiki/Bakken_Formation

“While these numbers would appear to indicate a massive reserve, the percentage of this oil which might be extracted using current technology is another matter. Estimates of the Bakken’s technically recoverable oil have ranged from as low as 1% — because the Bakken shale has generally low porosity and low permeability, making the oil difficult to extract — to Leigh Price’s estimate of 50% recoverable.[11] Reports issued by both the USGS and the state of North Dakota in April 2008 seem to indicate the lower range of recoverable estimates are more realistic with current technology.

The number of barrels is also nowhere near 500billion, it’s 3.5billion per the USGS report
http://pubs.usgs.gov/fs/2008/3021/pdf/FS08-3021_508.pdf

Also nobody is blocking this at all, it’s just never been possible (until very recently) or profitable to extract (and at current prices still isn’t profitable)

-- I am always doing that which I can not do, in order that I may learn how to do it. - Pablo Picasso


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