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Oil in Balkkens?

Discussion in 'Off Topic Threads' started by michmoe, Mar 6, 2011.

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  1. michmoe

    michmoe TS Member

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    I keep getting emails concerning a large reserve of oil that is supposed to be available in the North Dakota-Montana area.That supposedly contains enough oil to support this country for many,many years.My question is if this is true then why is nothing being done about it? If its all in the form of shale even at $100.00 a barrel wouldn't it be advantages to start extracting it not only freeing us of foreign oil dependence but also providing needed jobs in this country? Anyone know the real skinny on this? I'm tired of hearing how much oil we have in this country but yet am paying $3.55 for a gallon of gas at the pump.
     
  2. sernv99

    sernv99 Active Member

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    extracting oil from shale is more expensive given that oil is not consistently stays at over $100 a barrel and rising.

    here is a good read on the whole issue of shale oil, it's method of extraction, its cost, and other tidbits of info. It's from 2005 but most of the points are applicable for today. Although oil prices they qoute in the study are from 2005, adjust those prices with inflation today and you get a sense of how much oil needs to be selling on the world market for shale extraction to be profitable in the long run. I don't know if there were any improvements to shale oil extraction from 2005 to 2011...
     
  3. crusha

    crusha TS Member

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    OMG, not this shxxt again...
     
  4. JerryP

    JerryP Active Member

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    New oil wells are drilled daily in that area. No one is holding back. The BS you read is the same as the 50mpg carburetor.
     
  5. TOOLMAKER 251

    TOOLMAKER 251 Active Member

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    Jerry, the 50mpg carburetor you mentioned is old world technology. They came out with one that got almost 100mpg. used a magnet around the fuel line going into the 50mpg carb. to realign the gasoline molecules.
     
  6. wireguy

    wireguy TS Member

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    Whoa, hold it right there! let's give a little credit where credit is due! Neither of those would have worked if they hadn't pre-heated the gasoline to break down the bonds between the larger hydrocarbon molecules. You can't realign them if they are all globbed together.

    Also the driver has to wear a copper wrist bracelet.
     
  7. kiv-c

    kiv-c Member

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    At present it takes more btu's to extract the oil from the shale than is available from the extracted oil! Something like a 3:2 ratio, as I recall.

    As big a ripoff as ethanol...
     
  8. michmoe

    michmoe TS Member

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    So I guess it doesnt really matter how much oil we have as it just isnt feasable to extract? Thanks,I feared that was the case and hope the emails I keep getting on this cease and subside.Next time a email buddy sends this info to me I'll have to set him/her straight.
     
  9. Brian in Oregon

    Brian in Oregon Well-Known Member

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    My grandfather owned property in ND outside of Bismarck. Back in the 60's, the oil companies did a lot of exploratory drilling there. They then capped the wells with many, many truckloads of concrete, which is only needed if there is a lot of pressure. These wells were capped just before the "energy crisis" hit.
     
  10. Mapper

    Mapper Member

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    I believe this discussion is about two different oil formations. The Bakken and the shale oil in Wyoming, etc. Then we have offshore oil off all our coasts and under part of the Great Lakes. However, we do not have a very oil(or coal) friendly Government. I read the other day that Obama wants an 80% renewable energy America by, I don't know, maybe 20 years. I doubt if that is possible.
     
  11. Stl Flyn

    Stl Flyn Well-Known Member

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    So the "enery Crisis" was caused by the fuel used for the mixing and transport of all that concrete?
     
  12. JerryP

    JerryP Active Member

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    Mapper ,The Bakken formation contains both pools of oil and shale .
     
  13. mrskeet410

    mrskeet410 TS Member

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    They can get oil from shale, but it's expensive to do so. At some price it will make sense. Let's say that price is $100/barrel. But for a company to invest in oil shale they would need a reasonable expectation that oil will stay greater than $100 a barrel.

    But you will still be paying $3.55 or more a gallon.

    But Congress could give them a subsidy to make sure they make money even if oil is less that $100 a barrel. Congress could get this money by raising the fuel tax.

    But you will still be paying $3.55 or more a gallon.

    Or they could remove the subsidy from ethanol and use that money to subsidized shale oil.

    But you will still be paying $3.55 or more a gallon.
     
  14. wm rike

    wm rike Member

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    Brain - its called plug and abandonment, not capping. The cement plugs are SOP for abandoning a well snd making certain that everything is buttoned up safe and that no fluids (oil, gas, formation water) contaminate shallow drinking water.

    Before the oil embargo, if that is what you are talking about, oil prices were controlled and sat at $3 and change. Same with natural gas at 15-18 cents. Domestic production of both oil and gas had been in decline since the mid-fifties because the economics just weren't there with fixed pricing.

    As for shale oil, extraction methods have only begun to approach economic viability in the past decade or so, and its still a little fragile.

    This country has not been energy independent for over 60 years, and all the flap about "drill, baby, drill" isn't going to change that.
     
  15. Catpower

    Catpower Molon Labe TS Supporters

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    There must be something up there, my nephew lives in Minot, and told me they they have built some big new motels in the area, and that Hallaburtin has rented all the rooms for like two years
     
  16. larryjk

    larryjk Member

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    I am hearing two types of oil extraction being talked up. One is shale oil. The other is the exploration of the Bakken fromation. The shale oil is a difficult situation. The Bakken is a drilling exploration based on horizontal bores in the formation and high pressure fracking that results in a hell of a bunch of oil. The pipelines can't handle all they are getting and they are trucking all they can. Don't put oil shale extraction in the same ballpark with the Bakken formation exploration. That is like mixing apples and pickles.
     
  17. PW

    PW Member

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    There hitting glory holes in North Dakota and last I seen there was 160 drilling rigs going now and will be over 200 this summer they are putting a lot of the oil on R/R to ship because all of the pipe lines are at 100% cap.
     
  18. 4andy10

    4andy10 Member

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    Dont think it matters if we have large oil deposits in the U.S., why ask? It doesn't stay in the US...it hits the global market. just look to alaska, it doesn't stay here. Speculators need to be hunted down and groomed with barb wire and sand paper. Dont forget to use turpine to get em really clean too. Maybe we just should trade the arabs 1grain of wheat for a drop of oil.
    keith
     
  19. Traders

    Traders Well-Known Member

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    Unfortunately, all the easy (cheap) oil in the US and likely the world, has probably been found and tapped. Whether it's shale oil, drilling in Alaska, or drilling in the gulf of Mexico, it's all more expensive than drilling in sand in the Middle East. That's just the way it is. That means that every new source we come up with is likely to be more expensive to produce than the old sources. That will always be reflected in the price.

    We need research on alternative fuels. If we don't find them, we, and the rest of the world are going to be paying a lot more for petroleum while it lasts. Remember, wether it's next year or the next 100 or more, oil is a nonrenewable resource and the world will run out.
     
  20. shot410ga

    shot410ga Well-Known Member

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    In the late 1970's I lived in Denver and a big effort was in effect to extract oil from shale. At the time it was said a barrel of oil had to be at least $30 to make oil shale justifiable. Now it's not even feasible. Well they were extracting then. I saw the processing plants and sold the carbide bits to process the stuff.
     
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