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(Minot Daily News)   You remember how North Dakota was supposed to have 3.6 billion barrels of recoverable oil? About that   (minotdailynews.com) divider line 159
    More: Cool, North Dakota, oil resources, U.S. Geological Survey, paid survey, Bakken formation, Interior Secretary Ken Salazar  
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26721 clicks; posted to Main » on 01 May 2013 at 2:44 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-05-01 12:03:17 AM
This state was a lot more fun before Big Oil showed up with their right-wing lobby friends and turned it into a social conservative playground. This all but guarantees more of the same.

On the bright side, they might actually get around to fixing the damn roads.
 
2013-05-01 12:12:15 AM

Charlie Freak: This state was a lot more fun before Big Oil showed up with their right-wing lobby friends and turned it into a social conservative playground. This all but guarantees more of the same.

On the bright side, they might actually get around to fixing the damn roads.


You mean I won't see gas prices of $.99/gal again?  Dammit Obama!
 
2013-05-01 12:19:20 AM
FTFA: "This is clearly great news for North Dakota and great news for the nation," Hoeven said. "It will further serve to enhance our state's role as an energy powerhouse for the nation. More than two years ago I persuaded former Interior Secretary Ken Salazar to initiate a new USGS study of the Williston Basin to stimulate more private-sector investment in infrastructure like housing, hotels, retail stores and other services to meet the needs of a rapidly growing western North Dakota. This new USGS study further confirms and reinforces the fact that the Williston Basin is a sustainable, long-term play warranting strong private-sector investment for decades into the future."

In the meantime, gasoline will go up to $7.50 per gallon, and natural gas will be so expensive that only rich people will be able to afford to heat their homes with it. The rest of the world will move away from natural gas and oil to other fuel sources. Fifty years from now, our grandchildren will be wanting to know WTF we were thinking.
 
2013-05-01 12:22:16 AM
Praise Obama! We all knew he'd come through and put more oil in the ground!!

RedPhoenix122: Charlie Freak: This state was a lot more fun before Big Oil showed up with their right-wing lobby friends and turned it into a social conservative playground. This all but guarantees more of the same.

On the bright side, they might actually get around to fixing the damn roads.

You mean I won't see gas prices of $.99/gal again?  Dammit Obama!


It will slow down the price creep and keep most of that money in America at least. The cost of recovering shale oil has a price floor. Just like how they're building a plant here to turn LNG into diesel. The cost would be about $1.30 per gallon of diesel but that's not going to be the price they sell it for.
 
2013-05-01 12:31:27 AM
The good news: we have accessible reserves
The bad news: our zeal to be "energy independent" doesn't change the price of gas

/personally I think it's a better strategy to keep burning imported oil while it's cheap and plentiful
//then if things do get tight we don't need to import as much, if any at all, to meet our national interests
///YMMV
 
2013-05-01 12:32:59 AM
It IS an estimate so don't get too excited.
 
2013-05-01 12:39:04 AM

Bucky Katt: It IS an estimate so don't get too excited.


Uh oh... are we talking potential oil-cop math here?
 
2013-05-01 12:58:24 AM
FTA: The report also estimates there to be 0.7 trillion cubic feet of natural gas.

Meanwhile, that natural gas is all being flared off because they can't earn enough selling it to justify building the infrastructure to recover it. The flares are visible from space.
 
2013-05-01 01:04:35 AM
Once again the USGS shows how government does things right.
 
2013-05-01 01:16:14 AM

Mrbogey: Praise Obama! We all knew he'd come through and put more oil in the ground!!

RedPhoenix122: Charlie Freak: This state was a lot more fun before Big Oil showed up with their right-wing lobby friends and turned it into a social conservative playground. This all but guarantees more of the same.

On the bright side, they might actually get around to fixing the damn roads.

You mean I won't see gas prices of $.99/gal again?  Dammit Obama!

It will slow down the price creep and keep most of that money in America at least. The cost of recovering shale oil has a price floor. Just like how they're building a plant here to turn LNG into diesel. The cost would be about $1.30 per gallon of diesel but that's not going to be the price they sell it for.


In all seriousness, I doubt the price at the pump will change.  They'll just make some backroom agreements on how much to put out per day to keep supply low enough to drive up prices.
 
2013-05-01 02:47:31 AM
Which is enough to get us through 1 whole year.  Whoopee.
 
2013-05-01 02:49:45 AM
Citation for my reply:  http://www.eia.gov/tools/faqs/faq.cfm?id=33&t=6">http://www.eia.gov/t ools/faqs/faq.cfm?id=33&t=6
 
2013-05-01 02:50:41 AM

MaudlinMutantMollusk: Bucky Katt: It IS an estimate so don't get too excited.

Uh oh... are we talking potential oil-cop math here?


Please.  Cop math would be 7.4 trillion barrels.

www.netbooknews.com
 
2013-05-01 02:53:43 AM
I don't know why we don't have price controls on gas.

Fer Christ's sakes; we have controls on grains and dairy, but not on gas.

/ it just seems to me that, for now, the American public is a captive market to gas prices.

// at the very least; we shouldn't be trading gas futures. That screws with the price.
 
2013-05-01 02:56:25 AM
This is still high sulfur hard to refine and doesn't make a profit unless prices are high oil, right?

At least it's not tar sands...
 
2013-05-01 02:57:20 AM
Hopefully none of it is on any Indian reservations, or the Freedom-Loving conservatives in ND might have to displace a few people and ignore a treaty or two.
 
2013-05-01 02:57:34 AM

iheartscotch: I don't know why we don't have price controls on gas.

Fer Christ's sakes; we have controls on grains and dairy, but not on gas.

/ it just seems to me that, for now, the American public is a captive market to gas prices.

// at the very least; we shouldn't be trading gas futures. That screws with the price.


Seriously?  You honestly can't figure that out?

/Hint: Congress would have to vote that
 
2013-05-01 02:57:55 AM
Alright! I'll do my part for the oil companies! I'm off to the dealer! What gets crappier gas mileage? The Ford Explorer or the Hummer?
 
2013-05-01 03:04:03 AM

Lukeonia1: FTA: The report also estimates there to be 0.7 trillion cubic feet of natural gas.

Meanwhile, that natural gas is all being flared off because they can't earn enough selling it to justify building the infrastructure to recover it. The flares are visible from space.


That's so sad. I hope they are at least collecting the helium, if the concentrations are high enough.
 
2013-05-01 03:04:48 AM

Benevolent Misanthrope: iheartscotch: I don't know why we don't have price controls on gas.

Fer Christ's sakes; we have controls on grains and dairy, but not on gas.

/ it just seems to me that, for now, the American public is a captive market to gas prices.

// at the very least; we shouldn't be trading gas futures. That screws with the price.

Seriously?  You honestly can't figure that out?

/Hint: Congress would have to vote that


I know, I know;

it would eat into the profits of oil companies. But, the agriculture lobby is comparable in power to the oil lobby.

/ You'd think that we'd have price controls on gas, regardless.

// that's probably another reason why I don't hold a public office
 
2013-05-01 03:05:04 AM

Pointy Tail of Satan: Alright! I'll do my part for the oil companies! I'm off to the dealer! What gets crappier gas mileage? The Ford Explorer or the Hummer?


The Lambo.
 
2013-05-01 03:08:47 AM
Eh, another billion tons of CO2 up into the air, no biggie.

/Goes to cry thinking of where we'd be if we'd blown a trillion dollars on renewable energy instead of Iraq
 
2013-05-01 03:10:02 AM

erik-k: Eh, another billion tons of CO2 up into the air, no biggie.

/Goes to cry thinking of where we'd be if we'd blown a trillion dollars on renewable energy instead of Iraq


Study it out!
 
2013-05-01 03:10:34 AM
FRAKING COMING TO A HOOD NEAR YOU
 
2013-05-01 03:14:02 AM

Pointy Tail of Satan: Alright! I'll do my part for the oil companies! I'm off to the dealer! What gets crappier gas mileage? The Ford Explorer or the Hummer?


Get the Explorer because otherwise the Jeep owners will laugh at you.
 
2013-05-01 03:14:56 AM

iheartscotch: Benevolent Misanthrope: iheartscotch: I don't know why we don't have price controls on gas.

Fer Christ's sakes; we have controls on grains and dairy, but not on gas.

/ it just seems to me that, for now, the American public is a captive market to gas prices.

// at the very least; we shouldn't be trading gas futures. That screws with the price.

Seriously?  You honestly can't figure that out?

/Hint: Congress would have to vote that

I know, I know;

it would eat into the profits of oil companies. But, the agriculture lobby is comparable in power to the oil lobby.


And those caps were first voted in long ago, before they got that powerful.  If only they had done the same thing to oil in the last century.
 
2013-05-01 03:21:34 AM

Pointy Tail of Satan: Alright! I'll do my part for the oil companies! I'm off to the dealer! What gets crappier gas mileage? The Ford Explorer or the Hummer?


If you're getting a Hummer, I recommend trying to avoid having gas at all, otherwise the Hummerer may stop in the middle of your journey.
 
2013-05-01 03:26:04 AM
Cool. I own mineral rights up there.

Whoever fell for that one the first time.... 'Sure, I'll sell you this land, but if there is any oil I can do whatever I want, as long as it is at least 100ft from your buildings....'
 
2013-05-01 03:26:17 AM

Lukeonia1: FTA: The report also estimates there to be 0.7 trillion cubic feet of natural gas.

Meanwhile, that natural gas is all being flared off because they can't earn enough selling it to justify building the infrastructure to recover it. The flares are visible from space.


you are visible from space...
 
2013-05-01 03:27:25 AM
Fark Me To Tears:

Fifty years from now, our grandchildren will be wanting to know WTF we were thinking when the hell you thought built your family home within 30 miles of the inundating coast was a good idea
 
2013-05-01 03:30:41 AM

Pointy Tail of Satan: Alright! I'll do my part for the oil companies! I'm off to the dealer! What gets crappier gas mileage? The Ford Explorer or the Hummer?


I'd recommend getting an old Land Rover Discovery.  They leaked oil and gas about as fast as they burned through them on the road.  Single digits on the interstate with premium gas for sure.
 
2013-05-01 03:33:24 AM

Pointy Tail of Satan: Alright! I'll do my part for the oil companies! I'm off to the dealer! What gets crappier gas mileage? The Ford Explorer or the Hummer?


If GM still puts that 8.1L engine in anything, I'd put my money on that.
 
2013-05-01 03:34:57 AM

filter: Cool. I own mineral rights up there.

Whoever fell for that one the first time.... 'Sure, I'll sell you this land, but if there is any oil I can do whatever I want, as long as it is at least 100ft from your buildings....'


LOL.

They've figured that out. You get nothing. Zilch. Nada.


scm-l3.technorati.com

 
2013-05-01 03:38:12 AM
Didn't half of Springfield want to shoot Mr. Burns over this kind of thing?
 
2013-05-01 03:38:44 AM
his new USGS study further confirms and reinforces the fact that the Williston Basin is a sustainable, long-term play warranting strong private-sector investment for decades into the future.

The fark?
Hooray. Let's destroy more of our land. We can't let China beat us to oblivion.
 
2013-05-01 03:43:12 AM
Every time you call for price controls, God kills an economist.
 
2013-05-01 03:47:24 AM

jtown: Pointy Tail of Satan: Alright! I'll do my part for the oil companies! I'm off to the dealer! What gets crappier gas mileage? The Ford Explorer or the Hummer?

If GM still puts that 8.1L engine in anything, I'd put my money on that.


Nuh-uh - Ford F-250 Super Duty Triton V-10.  The older the better.
 
2013-05-01 03:48:55 AM
So that's what? A week's worth of oil consumption?
 
2013-05-01 03:55:39 AM

tuna fingers: filter: Cool. I own mineral rights up there.

Whoever fell for that one the first time.... 'Sure, I'll sell you this land, but if there is any oil I can do whatever I want, as long as it is at least 100ft from your buildings....'

LOL.They've figured that out. You get nothing. Zilch. Nada.
[scm-l3.technorati.com image 400x265]


What?

i.imgur.com
 
2013-05-01 03:57:55 AM
Bullshiat. More conservative lies. Farking freaks should be rounded up.
 
2013-05-01 04:09:05 AM
FTFA: approximately 7.4 billion barrels of technically recoverable oil....

and it's sold on the global market. We are another country whose natura; resource wealth is not shared among its people.
 
2013-05-01 04:36:22 AM

UsikFark: Lukeonia1: FTA: The report also estimates there to be 0.7 trillion cubic feet of natural gas.

Meanwhile, that natural gas is all being flared off because they can't earn enough selling it to justify building the infrastructure to recover it. The flares are visible from space.

That's so sad. I hope they are at least collecting the helium, if the concentrations are high enough.


Gas goes to flare all the time.  When wells or gas plants are serviced, the output is frequently sent to flare.  That happens far less frequently than it used to.  These days, it's common for gas-fired electrical cogen stations to be built near gas plants to benefit from production or fuel gas that would have previously gone up the stack.  But flaring will never be zero- it's how lines are purged prior to servicing.

/worked in a number of gas plants
 
2013-05-01 04:49:01 AM
Yay! More oil for China! They're going to be so happy with us.
 
2013-05-01 04:50:36 AM

Lukeonia1: FTA: The report also estimates there to be 0.7 trillion cubic feet of natural gas.

Meanwhile, that natural gas is all being flared off because they can't earn enough selling it to justify building the infrastructure to recover it. The flares are visible from space.


No citation... told by customers in the industry that the main problem until recently was technology--they were unable to contain it, package it, and make it into something they could sell.  Now, the main problem is catching up.  They have the problem of storage--to keep up production of liquid petroleum they have to let the gas blow by, because you can't exactly let it puddle on the ground or flow it into an above-ground pool. It is either burn it or vent it (venting not allowed for obvious reasons) for want of storage or transport, and they are busting ass to get the gas into production everywhere.  Liquid is easy to store and transport, compared to vapor.

Not that they haven't had this problem from the very start and should have foreseen the polite request that they knock it off with all the burning.  Surely it is a contributor to global [INSERT CAUSE].  They are stupid for not being on the ball.  The development of recovery technology has been too slow.  They missed out, we missed out--but it *is* happening.

My company sells starters, alternators and automotive electronics to industrial and municipal fleets as well as to the general public and businesses.  We have seen a large increase in customers running vapor fuel, especially on the last 2-5 years.  One of our oldest customers now specializes in conversions.  My unscientific appraisal of fleets and equipment that have converted to natural gas is that their under-hood components have longer service lives.  The only factor that has changed is the removal of gasoline or diesel from the system--run it on literal gas and the fiddly bits last significantly longer.  Starter and alternator cores from vapor based systems tend to be less greasy and longer lived then their liquid fuel cousins.  Components like relays, sensors and lowly harnesses have longer service lives as a result of reduced under-hood grime--an effect which must be cutting into our consumption of steel, copper and brass.  This effect is hard to measure, but it definitely exists.

When you talk to fleet supervisors about reduced maintenance costs, you have to duck to avoid being concussed by the resultant erections.  These are the people that will demand nation wide vapor fuel stations and elicit an actual result, something that electric vehicle proponents can only wish for.  Change will come incrementally as over-the-road fleets create demand for vapor fuel at truck stops.

Any exhaust guys out there?  Any reduction in corrosion on your vapor fuel equipment?  I know the mechanics like it.  Of course, the lubricant has to be liquid, but who knows if that will be the case in the long run?

The amusing thing is that the *GREEN* transition to vapor fuel is relatively spontaneous.  No celebrities flailing their egos in distress, no silly hippie histrionics, no coalition against this or that; Companies are choosing to use vapor fuel because it is better, not because it is popular. Z O M G
 
2013-05-01 05:07:34 AM
Resource curse! Resource curse! Resource curse!
 
2013-05-01 05:14:06 AM

MaudlinMutantMollusk: Bucky Katt: It IS an estimate so don't get too excited.

Uh oh... are we talking potential oil-cop math here?


Yep.  Oil execs have been caught overstating their reserves in the past...oddly, tying stock prices to executive compensation made some of them greedy...who could have expected THAT?

Here, it's a Republican senator...while they're generally a stalwart, trustworthy bunch...

has anyone seen the actual USGS report?

/loss of credibility is a hard thing to overcome
 
2013-05-01 05:15:13 AM

meat0918: This is still high sulfur hard to refine and doesn't make a profit unless prices are high oil, right?

At least it's not tar sands...


The report is quoted as saying "technically recoverable", so that would be my guess.
 
2013-05-01 05:16:01 AM

Pointy Tail of Satan: Alright! I'll do my part for the oil companies! I'm off to the dealer! What gets crappier gas mileage? The Ford Explorer or the Hummer?


A REAL American would buy both, and use one to tow the other around.
 
2013-05-01 05:17:47 AM

Captain Dan: Every time you call for price controls, God kills an economist.


Well, now I'm all conflicted...I mean, price controls are generally bad, but now that there's a huge upside...
 
2013-05-01 05:20:05 AM

erik-k: Eh, another billion tons of CO2 up into the air, no biggie.

/Goes to cry thinking of where we'd be if we'd blown a trillion dollars on renewable energy instead of Iraq


We can only afford so many Solyndras and A123's.
 
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