The View From 1776

High Oil Prices

Thomas Segel answers critics of his recent essay.

Posted by .(JavaScript must be enabled to view this email address) on 04/30 at 10:56 AM
  1. The Bakken Field in North Dakota extends into Montana and Canada and South Dakota. I contains 400 billion barrels of oil. While with current technology, the government says only 3-4 billion barrels is recoverable, it is being recovered. Just a few years ago, the government said only 1/25 of that amount (3-4 billion) would be recoverable. New technology is helping expand that early estimate by the 25 times the current report states.

    This is an oil shale fields but, instead of tapping the layer of shale, they are drilling through it and then using "horizontal drilling" travel under the layer for a mile or so. Then using a "treatment" prepare the porous layer they are in, they allow the oil to flow to the pipe and it is a "light sweet crude" that is very desirable by refineries.

    Hopefully, new technology will help recover the 1.5 to 3 trillion (not billion) barrels in the Western states shale fields.
    Posted by JanPBurr  on  05/02  at  11:28 AM
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