Oil Deposit Could Increase US Reserves 10x

HighWizard notes the upcoming release, on Thursday, of a report by the US Geological Survey on the Bakken Formation. This is an oil field covering 200,000 square miles and underlying parts of North and South Dakota, Montana, and Saskatchewan. A geologist who began surveying the field, before dying in 2000, believed it may hold as much as 1 billion barrels of recoverable oil. Later estimates have ranged to the hundreds of billions of barrels. Such a reserve would go a long way toward securing US energy independence.

Comments

Re:We have more oil?

[Anonymous Coward]

"Big Oil has has the same business infrastructure, organizational structure, and sales methods as they've had for 50 fucking years"

and for some reason the cost of pumping a barrel of oil from the ground has increased to $80 in the last 2 years.

Not really its roughly the same however the selling price is now much higher ie.. larger profit margin.

Since you probably wont get this i will say it in words you may understand.

(all dollar cost are made up since i dont know the cost to pump oil)

If it cost 18 fucking dollars to get a fucking barrel of oil in 2002 do you think it now cost
80 fucking dollars. NO It still cost the same to pump a fucking barrel of oil as it did when gas was 1.25 a fucking gallon.

Hers a link to the fucking tax rates http://en.wikipedia.org/wiki/Gas_tax#United_States_of_America

You fucking asshat