Great news on the energy front
I had written about the Bakken oil fields before in
2008.
They have subsequently been developed and are slated to pump over one million barrels per day.
From
Next Big Future:
Energy Information Administration estimates Bakken will produce over 1 million barrels per day next month
The latest monthly update of estimated crude oil production in the Bakken region of North Dakota and Montana shows total wellhead output topping 1 million barrels of oil per day (bbl/d) in December, 2013. The update appears in the most recent issue of the U.S. Energy Information Administration's Drilling Productivity Report (DPR).
The Bakken region now accounts for a little over 10% of total U.S. oil production and is expected to be the fourth region (along with the Gulf of Mexico, Eagle Ford, and Permian basins) producing more than 1 million bbl/d in the nation in December.
North Dakota produced 932,174 barrels of oil per day in Sept, 2013.
That's about 30 years capacity at current levels of consumption. And don't forget we have a deposit just as big in
Monterey, California. Drilling would have to happen in the ocean so the current regime is not going to grant a permit anytime soon. All the discovery and production is happening on privately owned land.
Posted by DaveH at November 17, 2013 12:00 PM