[copious.abundance]

@TheDude,

Let's go here and do a little exercize:
http://tonto.eia.doe.gov/dnav/pet/pet_c ... blpd_m.htm

In November, the US produced a little more than 4.9 million bpd. Since it was still being affected by hurricane aftermaths, let's be nice and round it up to 5 million bpd.

That same month, North Dakota produced 216K bpd. That's 4.32% of US production.

According to this, Burgan, the world's second-largest oil field, is producing about 1.2 million bpd. World crude oil production is about 73-74 million bpd. In other words, the world's second-largest oil field is producing about 1.6% of the world's production.

Ghawar is currently producing about 6.8% of the world's crude oil production.

Lesson being, North Dakota is almost the Ghawar of US oil production. And it's better than a Burgan of US crude oil production.

[bencole]

$this->bbcode_second_pass_quote('OilFinder2', '
')You remind me of a guy I used to debate on another forum. He would make a claim, then I would reply with something which proved him wrong, or brought into question his conclusion. He would then reply with something to the effect, "Well, but you see, the point is . . ." and then he would subtly shift the topic ever so slightly by making another new claim or statement about something tangentially related,

$this->bbcode_second_pass_quote('bencole', 'T')he only thing subtle going on here is your subtle attempt to lump the 1.53 trillion barrels
in with conventional reserves.

[TonyPrep]

$this->bbcode_second_pass_quote('OilFinder2', '@')TheDude,

Let's go here and do a little exercize:
http://tonto.eia.doe.gov/dnav/pet/pet_c ... blpd_m.htm

In November, the US produced a little more than 4.9 million bpd. Since it was still being affected by hurricane aftermaths, let's be nice and round it up to 5 million bpd.

That same month, North Dakota produced 216K bpd. That's 4.32% of US production.

According to this, Burgan, the world's second-largest oil field, is producing about 1.2 million bpd. World crude oil production is about 73-74 million bpd. In other words, the world's second-largest oil field is producing about 1.6% of the world's production.

Ghawar is currently producing about 6.8% of the world's crude oil production.

Lesson being, North Dakota is almost the Ghawar of US oil production. And it's better than a Burgan of US crude oil production.

[mididoctors]

$this->bbcode_second_pass_quote('OilFinder2', 'A')h yes, the law of receding horizons, which, among other things, assumes that the price of oil will always rise, and thus, more-expensive oil sources will forever be out of reach.

The problem with this theory is, the price of oil does not always rise. But I guess some people haven't learned that yet.

@TheDude,

Let me highlight something reeeally important in my quote:
$this->bbcode_second_pass_quote('OilFinder2', 'L')esson being, North Dakota is almost the Ghawar of US oil production. And it's better than a Burgan of US crude oil production.

$this->bbcode_second_pass_quote('mididoctors', '')$this->bbcode_second_pass_quote('OilFinder2', 'A')h yes, the law of receding horizons, which, among other things, assumes that the price of oil will always rise, and thus, more-expensive oil sources will forever be out of reach.

The problem with this theory is, the price of oil does not always rise. But I guess some people haven't learned that yet.

[copious.abundance]

Another one:
http://www.energybulletin.net/node/33895
$this->bbcode_second_pass_quote('', 'H')e was also the one who coined "The Law of Receding Horizons." For those who missed my previous articles on receding horizons, it is a simple concept: as the cost of energy rises, the cost of everything else made with energy (like building materials) also rises. So an energy project which was expected to be profitable when energy costs were x amount higher than today, turns out to still be uneconomical when you get there.

[Cog]

@pstarr

Thanks for setting the record straight on OF2. He has never been interested in really talking about oil resources in any sort of legitimate or scientific way.

$this->bbcode_second_pass_quote('pstarr', 'T')o the folks who have joined this thread and may feel confused:

1.53 billion barrels of petroleum do not exist under the Colorado. The material referenced in the Bloomberg article is 'shale oil' a degraded (through contact with the surface) form of fossil fuels and is actually kerogen, asphalt. It has little caloric content on its own and to be used must by hydrogenated at great expense. For this reason it has never been and most likely never will be produced. (See my quote from geologist Professor Kenneth S. Deffeyes.)

The thread title chosen by Oilfinder2 ('1.53 Trillion Barrels of Oil') and the linked article headline ("Colorado Shale May Hold 1.53 Trillion Barrels of Oil ") are both intentionally wrong, misleading and intended to overstate petroleum reserves. Furthermore OF used logical fallacies (red herrring, diversions, distractions, etc. ) to distance himself from his errors.

Oilfinder created several diversion and distractions when I pointed out that Green River kerogen has not, and can not, be produced.

[TheDude]

$this->bbcode_second_pass_quote('OilFinder2', '@')TheDude,

Let me highlight something reeeally important in my quote:
$this->bbcode_second_pass_quote('OilFinder2', 'L')esson being, North Dakota is almost the Ghawar of US oil production. And it's better than a Burgan of US crude oil production.

$this->bbcode_second_pass_quote('TheDude', '')$this->bbcode_second_pass_quote('OilFinder2', '@')TheDude,

Let me highlight something reeeally important in my quote:
$this->bbcode_second_pass_quote('OilFinder2', 'L')esson being, North Dakota is almost the Ghawar of US oil production. And it's better than a Burgan of US crude oil production.

[TheAntiDoomer]

The fact is that sooner or later the technology will be there to produce the oil from this formation at some rate. Even without this tech this oil shale could be mined and burned directly for power to run electric vehicles Estonia has been doing it for years:

http://www.kirj.ee/public/oilshale/Est-OS.htm

$this->bbcode_second_pass_quote('pstarr', 'O')nce again Oily you are a lying sack of sh*t. You started this thread to pump Green River Asphalt and you know it has nothing to do with Bakken shale.

[TonyPrep]

$this->bbcode_second_pass_quote('OilFinder2', 'A')h yes, look at the number for Thunder Horse. And look at this number for North Dakota. They're almost the same!

[TonyPrep]

$this->bbcode_second_pass_quote('OilFinder2', 'N')otice I did not not say the Bakken is the world-equivalent to (in-between) Ghawar and Burgan, it is merely the US-equivalent to (in-between) Ghawar and Burgan.