A more REASONABLE argument that ANWAR drilling is not needed, is this:

Massive Oil Deposit Could Increase US reserves by 10x
America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant.

In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation that covers North Dakota and portions of South Dakota and Montana. With new horizontal drilling technology it is believed that from 175 to 500 billion barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951. The USGS did an initial study back in 1999 that estimated 400 billion recoverable barrels were present but with prices bottoming out at $10 a barrel back then the report was dismissed because of the higher cost of horizontal drilling techniques that would be needed, estimated at $20-$40 a barrel.

It was not until 2007, when EOG Resources of Texas started a frenzy when they drilled a single well in Parshal N.D. that is expected to yield 700,000 barrels of oil that real excitement and money started to flow in North Dakota. Marathon Oil is investing $1.5 billion and drilling 300 new wells in what is expected to be one of the greatest booms in Oil discovery since Oil was discovered in Saudi Arabia in 1938.

The US imported about 14 million barrels of Oil per day in 2007 , which means US consumers sent about $340 Billion Dollars over seas building palaces in Dubai and propping up unfriendly regimes around the World, if 200 billion barrels of oil at $90 a barrel are recovered in the high plains the added wealth to the US economy would be $18 Trillion Dollars which would go a long way in stabilizing the US trade deficit and could cut the cost of oil in half in the long run.

Well I'm not making up anything. There are maybe at most 10.4 billion barrels of oil there. We currently use 24 million a day. Do the math. 24 million divided by 10.4 billion = 433 days worth of oil. Of course you can't get all the oil out at once and if you spread it out over 25 years that area would supply about 4% of our oil needs daily if our needs didn't increase over the next 25 year which they would. Everyone drivng a car that got 32 MPG would save more barrels of oil that that.

the reason for the switch to diesel these days would actually be mileage .. they are getting almost double the miles compared to a gasoline engine .. and ya ... time to get back into the bike lifestyle .. damn i miss it .

If 200 billion barrels of oil are really there oil BETTER be A LOT lower than $90 a barrel. Gas better be back down to $1 a gallon.

have to go to ANWAR... its our only chance...whos coming wit me

Too good to be true

"Thursday, April 10, 2008
The USGS has estimated mean recoverable reserves of 3.65 billion bbls, and the estimate does not cover the Canadian portion of the Bakken. "

So much for 200 billion. About 5 months worth of oil.

Now I understand how my dad would put 5$ of gas in the tank, and drive all week.

the purpose of the production is not to be the sole source of oil - but to further increase domestic production and create a larger buffer against OPEC and other not-so-friendly oil producers. The more sources - the more stable the price.

I was at the auto parts store a few days back, and saw a easy pump gas siphoning kit (was like 5 dollars), and my neighbor sleeps in late. 2+2 = ? I think there is alot more to this then just time and natural resource - hmmm wonder what those things could be....

Can anyone explain this to me? Spooky shit -->
http://www.lafn.org/politics/gvdc/Natl_Debt_Chart.html

anyone remember what the price of gas was from say - '94~'00?

South Florida - $3.50-$3.80 per gallon

gas is over $4 here in Manhattan : ( Diesel is approaching $5

Plus - we are not even talking about the natural gas that will be resourced there at the same time.

Appearantly you don't fucking read. I nevr said it would be sole source you " I don't read an entire post" fucktard. At most it would be about 4% of our needs. Big whoop. Now go back to grade school and learn to READ. man it pisses me off when someone post crap about one of my post and doesn't even bother to READ the god damn post they are responding too.

I keep hearing from "scientists" that we aren't running out of oil. Just cheap drillable oil. There apparently is a shit load of shale oil under the sea that is just not cost effective to drill for at this point

I want the compressed air car I just saw on CNN last night. Bad ass car at next to nothing to operate

If you read the reports.. the 3.65 billion bbl # is what is suggested is what is RECOVERABLE with current technolgy. The total oil is still estimated as high as 200bl brl.

hell ya gas is get way the fuck up ther its some bullshit "(

lol.. easy turbo. light one up and tilt your chair back. time to take a break.

Can it go on the highway? Sheeeit. 125?@!~%

If it works good on the highway, that shit sounds amazing right about now.

There is also - 1.5 trillion barrels of Oil in the shale in Colorado. Shale oil production, is not cost effective if Oil prices are less than $100 a bbl. So now that oil is $120 - we shall see what new production begins in that region.

However, that does not mean vastly cheaper oil prices. Because the cost to extract the shale oil is so much higher. But it does mean, that if the OPEC sources and Chavez want to keep pushing up the prices - we really can tell them to piss off - and keep the money here in the US!

Well played, fine sir!

Does anyone here know enough about the stock market and oil companies to know which companies are going to benefit in 5+ years time with their shale oil land ownership?

I don't see gas prices stabilizing, I don't think anyone does.. Could be a great time to get into whatever the next oil thing that becomes profitable is.

Oil sands in Alberta weren't profitable, it was too expensive, yadda yadda.. Now it's like the wild west out there, industry is booming.

Oil Sands price profitability point was $50. That reserve is upwards of like 2 trillion bbl.

Tax in the UK on petrol ( gas ) is very high, over 50% and the cost is around $10.00 per gallon, but our gallons are slightly bigger that the US gallon so say around $9.00 a gallon equivalent . But remember salaries are way higher in the UK than the US

Sounds to me like everyone is fucked! If I was a gas company, I'd take advantage.

Not everyone, my friend, not everyone...

http://img170.imageshack.us/img170/3...dullah2vy7.jpg

ya, $4/gallon sucks. I blame Bush.

The only thing that is fucked in this thread is your dumb ass imageshack hosted photo that nobody can see.

yeah RECOVERABLE is kind of the keyword though isn't it?

That's like saying I have 3 billion vaginas to choose from to fuck because that's the number of females on the planet when in reality the actual amount of vaginas out there for me to fuck is quite a bit smaller.

the price jump is due to the cleaner diesel being forced upon us... the old dirty diesel sure is being missed :( I'd love to have cheap diesel but I'm thinking about just picking up an old diesel truck and a newer diesel car and making the stuff in my garage using grease and some chemicals you can get under $1/gallon with some work and a little cash up front for equipment.

Is that you in your banner? Sweeet!

If the government had stopped funding solar 25 years ago we'd have solar power cars by now. Not only is it FREE and doesn't emit pollution we have 4.5 billion YEARS worth of it left.

From what I read the problem is the dollar is weak,thats whats driving up oil prices. Not use.

You are so right but the oil lobbys wont let that happen. To me what Bush should of said after 911. We are pulling totally out of the middle east and all the resources and power of the federal government will be focused on getting us off oil by 2006. We are funding terrorists thru our consumption this has to stop immediately.
It would of created a economy like never seen before.

Why would he do that? In 9 months he and Cheney are instant BILLIONAIRES from all that oil money.

R-E-T-A-R-D-E-D.

Even *if* abiogenic oil is partially true... it's not significant enough to even partially help us. It's sure as fuck not replenishing itself at the rate of 80 million barrels a day. I don't see how you can talk about the decline rates of Anwar in one post - the factual observable phenomenon that occurs to every well ever drilled - and then have the balls to talk about abiogenic oil which only a few whackjobs and some russians give the time of day.
As if drilling it all and waiting 1000 years for the fields to replenish themselves is even applicable to the argument if it were even true. Oil running out is NOT debateable. There is a reason the US is only pumping half of what it did in 1970. This is a fact.
Otherwise Anwar wouldn't be 10B recoverable it would be infinite recoverable.. and every oil company on the planet would be valued at infinite dollars.

NYC gas prices make me want to cry.. especially if your car takes premium only :Oh crap

When the dollar started to drop I predicted Americans would be hit with higher import prices. The raise in the cost of oil is partly due to the drop in value of the dollar, those sheiks have bills to pay LOL. So welcome to the world of consequences.

Yeah the price of gas is about $3.61 in NY now, Damn greedy oil companies !!! How much profit do they need!

I pay UK £1.07 per liter here.

you american people lol

i cant believe you honestly think $1/liter is a lot :) we're already at $2.5/liter

Yes, it's sucks. I need to by moped