Massive New World-Class Oil Deposit Discovered Inside the U.S.

Posted: July 8, 2009 in Your Supplies
Tags: , , , , , , ,

Some may view major new oil discoveries (especially ones within the North American continent) to be inconvenient for and inconsistent with certain global warming dogmas. Nonetheless this discovery is a whopper: larger than the Texas gulf basin. Since regular news channels don’t deem this discovery newsworthy, it’s up to the blogosphere to yet again fill the gap.

 

Latest U.S. Geological Survey Assessment reveals:

  • Recoverable Oil is 25 times larger than determined in an earlier 1995 assessment.
  • 3-4.5 billion barrels is now classed as technically recoverable. [in addition to a mean estimate of 1.8 billion cubic feet of  gas]
  • The formation estimate is larger than all other USGS oil assessments of the lower 48 states and is the largest “continuous” oil accumulation ever assessed by the USGS.

So if the U.S. has a massive new oil field right in its own backyard why is this not generating more press? Interestingly this is item #1 in a recently-added FAQ’s about the Bakken Formation. The USGS Response to this question? “The individual media organizations make the decision about what stories to publish.” Apparently editors think celebrity fluff is more important to viewers/readers than any news on the horizon that may significantly reduce dependence on foreign oil (and presumably fewer foreign ‘entanglements’).

I find it curious that the USGS did not give an immediate “no” when asked if the Bakken formation is larger than remaining reserves in Saudi Arabia. Here is their response: “There is no certain method to determine the exact volume in the Bakken formation or any formation. The Bakken formation is much different than the oil resources of Saudi Arabia. … requires more technical drilling and recovery methods that are much more costly.” I suspect similar criticism was given to oil sands extraction in  the 1960s when oil was $2 a barrel — funny how a 25-fold increase in the price managed to overcome technical difficulties.

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