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New survey doubles amount of recoverable oil in N.D.

Discussion in 'Current Events' started by BIV, May 1, 2013.

  1. BIV

    BIV I'm Biv Dick Black, the Over Poster.

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    http://www.minotdailynews.com/page/...ount-of-recoverable-oil-in-N-D-.html?nav=5010
     
  2. Mags

    Mags Edgelord
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    Environmentalists in 3...2...1...
     
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  3. ruckstande

    ruckstande Posts mostly from the shitter.

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    Think of the squirrels! Won't somebody think of the squirrels!
     
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  4. MayrMeninoCrash

    MayrMeninoCrash Liberal Psycopath

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    The caveat naturally is that this is "recoverable at a market price of about $100/barrel". This won't lower prices at all.
     
  5. whiskeyguy

    whiskeyguy PR representative for Drunk Whiskeyguy.

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    But increased technology and better recovery processes will. The most important thing is that it's there.
     
  6. MayrMeninoCrash

    MayrMeninoCrash Liberal Psycopath

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    It's like the West Texas wells. Most of them were capped in the '80's when the $10/bbl oil was siphoned off and they because cost prohibitive compared to Saudi Arabia's $3/bbl oil. Doesn't mean they "dried up" per se other than the easy oil was acquired and it would cost more to recover the rest than it would sell for (at the time). Now with current oil prices, and technology, we have vast resources available. Doesn't mean they were just discovered, it just means that the pricepoint and technology is now available to milk additional crude out of those holes.

    There's a graph floating around (Google sux) which shows the total amount of resources versus cost per bbl. If we are willing to spend $250/bbl, there are nearly limitless supplies of crude available. At $50/bbl, we'd better fire up those Priuses.
     
  7. Norm Stansfield

    Norm Stansfield 私は亀が好きだ。

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    How much of that is actual cost, and how much is taxation and regulatory costs?
     
  8. ruckstande

    ruckstande Posts mostly from the shitter.

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    So I guess putting Americans to work isn't a big bonus huh?
     
  9. Creasy Bear

    Creasy Bear gorgeousness and gorgeousity made flesh
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    The increase was probably due to OWB's roustaclowning productivity being factored into the equation.
     
  10. lajikal

    lajikal Registered User

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    Another 6 months of juice.
     

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