www.cnbc.com/id/15840232?video=1818634083&play=1 . " BAKKEN THAT TANG UP " is continuation of the topic .
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BAKKEN oil field
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They've apparently struck oil near here again in the shale district.
There's been a block of oil shale with more than 50nyears worth of oil changes stored in it sitting on a wooden floor at a museum near here, and it's not even left so much as a stain over a decade.
Science based on share spruikers ?
Yeah right.
There's been a block of oil shale with more than 50nyears worth of oil changes stored in it sitting on a wooden floor at a museum near here, and it's not even left so much as a stain over a decade.
Science based on share spruikers ?
Yeah right.
I am referring to Jim Cramer.... the individual in the video.
He says he just learned about it in the oil and gas journal last week.
Would you give credence to an astronomer that just learned there was a planet named "jupiter" last week?
He is even two years behind a certain famous know-it-all radio host (initials R.L.) that claimed the price of oil would soon drop to $16 a barrel, due to the Bakken.
The good news: If we can double the production in the Bakken oil formation, then it would be supplying 1% of the worlds oil.
He says he just learned about it in the oil and gas journal last week.
Would you give credence to an astronomer that just learned there was a planet named "jupiter" last week?
He is even two years behind a certain famous know-it-all radio host (initials R.L.) that claimed the price of oil would soon drop to $16 a barrel, due to the Bakken.
The good news: If we can double the production in the Bakken oil formation, then it would be supplying 1% of the worlds oil.
I didn't read the linked article, but much of the natural gas around here is locked up in shale formations. The Gas producers have gotten so good at directional drilling and so efficient at extracting gas from shale, that the supply of gas has now become so abundant that they have little interest in producing it at current prices.
Many producers are selling their gas stakes ( I think an Australian firm has bought in and a China firm, and some others ) and are packing up their rigs and moving them to the oil shale formations where they think the big money is. They think they can be as successful in getting oil from shale as they have been with gas. And maybe they can.
So I wouldn't just dismiss oil shale out of hand - this oil may prove to be recoverable without a lot of hassle. If that becomes true, look for the administration to come up with a way to shut the producers down.
This area around here has so much gas I am amazed that the place does not explode when somebody tosses out a cigarette. We have lots of fossil energy on this continent - we just don't utilize it for some crazy reason(s).
Many producers are selling their gas stakes ( I think an Australian firm has bought in and a China firm, and some others ) and are packing up their rigs and moving them to the oil shale formations where they think the big money is. They think they can be as successful in getting oil from shale as they have been with gas. And maybe they can.
So I wouldn't just dismiss oil shale out of hand - this oil may prove to be recoverable without a lot of hassle. If that becomes true, look for the administration to come up with a way to shut the producers down.
This area around here has so much gas I am amazed that the place does not explode when somebody tosses out a cigarette. We have lots of fossil energy on this continent - we just don't utilize it for some crazy reason(s).
Jim Kramer is quite the clown. He says all kinds of weird things. I wouldn't put any stock in the vast majority of what he says.
The Baaken Field is absolutely HUGE which is why North Dakota has been booming for a few years now. Then there are the huge reserves up in Alaska they tell us doesn't exist.
They are using a new process called "fracing" to extract the oil and gas in addition to the directional drilling.
We are no where near out of oil and there's so much natural gas I doubt we could use it up in the next 200 years.
Then there are the almost limitless reserves of coal and then nuclear.
Energy crisis? What energy crisis? There never has been a real one. Just those that are artificially created.
The Baaken Field is absolutely HUGE which is why North Dakota has been booming for a few years now. Then there are the huge reserves up in Alaska they tell us doesn't exist.
They are using a new process called "fracing" to extract the oil and gas in addition to the directional drilling.
We are no where near out of oil and there's so much natural gas I doubt we could use it up in the next 200 years.
Then there are the almost limitless reserves of coal and then nuclear.
Energy crisis? What energy crisis? There never has been a real one. Just those that are artificially created.
Originally Posted By: Trvlr500
Jim Kramer is quite the clown. He says all kinds of weird things. I wouldn't put any stock in the vast majority of what he says.
The Baaken Field is absolutely HUGE which is why North Dakota has been booming for a few years now. Then there are the huge reserves up in Alaska they tell us doesn't exist.
They are using a new process called "fracing" to extract the oil and gas in addition to the directional drilling.
We are no where near out of oil and there's so much natural gas I doubt we could use it up in the next 200 years.
Then there are the almost limitless reserves of coal and then nuclear.
Energy crisis? What energy crisis? There never has been a real one. Just those that are artificially created.
BINGO John--Las Vegas
Jim Kramer is quite the clown. He says all kinds of weird things. I wouldn't put any stock in the vast majority of what he says.
The Baaken Field is absolutely HUGE which is why North Dakota has been booming for a few years now. Then there are the huge reserves up in Alaska they tell us doesn't exist.
They are using a new process called "fracing" to extract the oil and gas in addition to the directional drilling.
We are no where near out of oil and there's so much natural gas I doubt we could use it up in the next 200 years.
Then there are the almost limitless reserves of coal and then nuclear.
Energy crisis? What energy crisis? There never has been a real one. Just those that are artificially created.
BINGO John--Las Vegas
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