The U.S. Geological Survey is nearing completion of a research project that will attempt to quantify how much oil is contained in the Bakken shales formation and how much of it is recoverable.
The study is expected to be completed by late April, according to Sen. Byron Dorgan, D-N.D., who, along with other state officials, pushed the federal agency to finish the research started by scientist Leigh Price.
Billion barrels
Price estimated the Bakken formation may hold as many as 900 billion barrels of oil. But Price died in 2000 before the study could be published or peer reviewed.
Other estimates of the Bakken formation's oil reserves have pegged the number at closer to 200 billion or 300 billion barrels.
What does that mean? It means, that the Bakken formation's reserves might, just MIGHT be as big or bigger then Saudi Arabia:
Rank
Country
Proved reserves
(billion barrels)
1.
Saudi Arabia
264.3
2.
Canada
178.8
3.
Iran
132.5
4.
Iraq
115.0
5.
Kuwait
101.5
6.
United Arab Emirates
97.8
Couple that with the oil shale in the Rockies, and we may be sitting on more oil then the entire Middle East combined. The only question is how we get it out and whether or not we start getting electric cars up and going.
Get the answer to those two questions, and you'll see the Middle East dry up in a matter of a few short years. Islamic militants can't carry out attacks without money to buy weapons and train people.
Travis
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