Why aren't we drilling for oil?

[scottw]

Originally Posted by zimmy

Come on RIRockhound, ScottW didn't say it so it can't be true. Please stop responding to his Republican projections w/ reality.

Here is an excerpt from the email, which conveniently exaggerates the amount of oil estimated by USGS by 100 times. You never know where people get their information, do you ScottW?

Chain e-mail:
" If you start reading and "don't believe" go to the bottom of the page and click on the US Government link. You'll get the same information.

The U. S. Geological Service issued a report in April ('08) that only scientists and oil men knew was coming, but man was it big. It was a revised report (hadn't been updated since '95) on how much oil was in this area of the western 2/3 of North Dakota ; western South Dakota ; and extreme eastern Montana ..... check THIS out:

The Bakken is the largest domestic oil discovery since Alaska 's Prudhoe Bay , and has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels.. Even if just 10% of the oil is recoverable... at $107 a barrel, we're looking at a resource base worth more than $5.3 trillion...."

I'm sure you get plenty of those emails targeting fruitcakes..... probably originated by JWB...you and Bryan mentioned the Dakotas...did anyone else? maybe you are both getting ridiculous emails from the same source

[RIROCKHOUND]

Originally Posted by scottw

maybe you are both getting ridiculous emails from the same source

My source was the original press release by the USGS. coincidentally, I'm on their mailing list...

Originally Posted by scottw

...you and Bryan mentioned the Dakotas...did anyone else?

Scott, Scott, Scott...
it was in the very first post. Jim specifically named Dakotas.
try and keep up with the rest of the class

Also, Norway uses 240,000 barrels of oil/day. http://www.indexmundi.com/energy.asp...ph=consumption
we use ~ ten millions.

Kind of like comparing a grape and a watermelon, no?

[scottw]

Originally Posted by RIROCKHOUND

My source was the original press release by the USGS. coincidentally, I'm on their mailing list...

Scott, Scott, Scott...
it was in the very first post. Jim specifically named Dakotas.
try and keep up with the rest of the class
?

ya got me...Jim said Dakota

AHHHHH....USGS

Previous predictions on the longevity of oil have been consistently premature. In 1909, the United States Geological Survey (USGS) estimated that oil in the US would be exhausted by 1935. In 1916, they reported that the earlier assessment had been too optimistic, and that oil would run out in 1921. In 1919, the USGS revised their estimate, and predicted that the US would run out of oil in 1928
In 1922 the U.S. Geological Survey (USGS) warned that America was going to run out of oil within 20 years. In 1956, M. King Hubbert(I don't know who Hubbard is but this guy wrote a book too), at the time a geophysicist with Shell Oil, predicted that U.S. oil production would peak by 1970.
Despite the critics, the USGS’s numbers from the 2000 study still retain their status as the official US government view. The USGS’s position back in 1962 denied a 1956 warning by M. King Hubbert that U.S. oil production would peak between 1965 and 1970. The USGS told then-Interior-Secretary Stewart Udall that the USA probably wouldn’t hit peak production until near the turn of the century.
Back in 2000, the US Energy Information Administration (EIA), USGS data, plotted their first “reference case” that showed peak production in 2016; since then they’ve replotted the curve to show a peak delayed until 2043....

and so on...and so on...

ARE YOU NOTICING A TREND????

as time goes on we seem to advance technologically and find new and more advanced ways to locate and extract these resources as well as optimize our use of them.....even after they were supposed to be depleted