Peak Oil is You
Donate Bitcoins ;-) or Paypal :-)
Page added on May 2, 2013
Feds triple estimates for recoverable natural gas in plains states
A new US Geological Survey study found that not only is the amount of the natural gas in the upper plains states of North and South Dakota and Montana three time larger than previously reported but that there was twice as much oil in there too.
Here’s the study. It summarizes its findings as:
Using a geology-based assessment methodology, the U.S. Geological Survey estimated mean undiscovered volumes of 7.4 billion barrels of oil, 6.7 trillion cubic feet of associated/dissolved natural gas, and 0.53 billion barrels of natural gas liquids in the Bakken and Three Forks Formations in the Williston Basin Province of Montana, North Dakota, and South Dakota.
The Interior Department explained the significance of this in a press release:
This assessment of both formations represents a significant increase over the estimated mean resource of 3.65 billion barrels of undiscovered oil in the Bakken Formation that was estimated in the 2008 assessment.
“These world-class formations contain even more energy resource potential than previously understood, which is important information as we continue to reduce our nation’s dependence on foreign sources of oil,” said Secretary of the Interior Sally Jewell. “We must develop our domestic energy resources armed with the best available science, and this unbiased, objective information will help private, nonprofit and government decision makers at all levels make informed decisions about the responsible development of these resources.”
Of course, this boost the argument for hydraulic fracturing, or “fracking” the process used to extract the natural. Environmental groups have been on the warpath against it because the growing abundance of natural gas – which is cleaner-burning than other fossil fuels — threatens to undermine the case for renewable energy resources.
The administration is weighing new rules for fracking. It has given indications that it supports it in the past. Jewell’s comments about reducing dependence on foreign oil seem to be a another indication that they intend to push forward with allowing development of the resources.
13 Comments on "Feds triple estimates for recoverable natural gas in plains states"
BillT on Thu, 2nd May 2013 1:51 am
Fraking is a death sentence for the population. Make every fraker live in the area of the fraking wells, drink the water and breathe the air. Put one in each of their front yards.
This article is more hype and propaganda from a failing government trying to restore growth when it is no longer possible.
Plantagenet on Thu, 2nd May 2013 2:20 am
Don’t let BillT scare you. Fracking is the most exciting development in the oil biz since horizontal drilling.
rollin on Thu, 2nd May 2013 3:06 am
Here we go again, didn’t the USGS originally overestimate the Bakken and had to back off?
dave thompson on Thu, 2nd May 2013 3:07 am
“Triple estimates”. Sounds great. Reality,this is still an unconventional more expensive in all respects resource. 2x?3x?4x? the cost,what is the ERoEI?
GregT on Thu, 2nd May 2013 4:34 am
13 months of oil for the US and 3 1/2 months of nat gas. Big deal.
Water resources have already been identified as a critical issue for the US in the near future. What’s more important for life, water or oil?
BillT on Thu, 2nd May 2013 4:46 am
Only a greedy petroholics could want the destruction of the ecosystem in return for temporary profits. The hydrocarbon bubble is already bursting. Intelligent countries are banning fraking of any kind. Investors are getting burned. And the lies coming out of government supported ‘research’ are getting more and more difficult to believe. Fantasy and hopium on steroids.
Norm on Thu, 2nd May 2013 7:31 am
fantastic. they tripled the undiscovered discoveries. kinda like my future billion dollars of earnings, to be placed into a future bankvault at my future mansion.
Arthur on Thu, 2nd May 2013 9:07 am
I am with Bill about the absolute insanity of fracking on a continental scale, but I have little doubt the Plants of this world are going to prevail. It looks like it is going to be a race against time which is going to buckle first: geology or atmosphere.
SOS on Thu, 2nd May 2013 1:51 pm
Some experts, such as petroleum geologist John Harju, associate director for research with the Energy and Environmental Research Center at the University of North Dakota, say the USGS’ estimates, which increased thanks to technology improvements, may be conservative. This is the first USGS survey to include both the Bakken and Three Forks Formations.
“Like any of these USGS estimates, think of them as a milemarker that’s well behind you in the rearview mirror,” Harju told the Grand Forks Herald.
SOS on Thu, 2nd May 2013 1:58 pm
These is so much oil out there you peak oil folks are going to have to resort to more political science to keep your dream of world wide suffering alive.
Peak oil is either going to have to go to court, get congress to act, employ the EPA or redefine what peak oil is and means for the 100th time if they hope to reatin any type of relevance.
Greedy people? What about people that
have absorbed so much propaganda that they advocate policies that have caused unmeasurable human suffering by restricting access to abundent energy reserves. Stop fracking? That will increase human suffering even more, create more mayhem in the Middle East, further impoverish and anger people like Billt and starve children world wild.
BillT on Thu, 2nd May 2013 3:01 pm
Human suffering is being caused by Frakers, who don’t give a damn about what they destroy in the name of profit. I personally hope the whole financial system collapses and takes the fraking and off shore greed down with it. It’s time to contract the energy waste to zero. On;y high prices will do that.
econ101 on Fri, 3rd May 2013 2:54 am
Human suffering is being caused by folks that advocate policies that keep energy scarce and expensive. Its a real cause and affect.
GregT on Sat, 4th May 2013 6:37 pm
“It looks like it is going to be a race against time which is going to buckle first: geology or atmosphere.”
Human ‘suffering’ will occur either way, but it will be far worse if we destroy the atmosphere. Global mass extinction is as bad as it gets for the Human race. It’s too bad we won’t be able to hold the Econ/Sos’s of this world accountable. Maybe someone else will.