Former North Dakotan Calls North Dakota An Energy Giant
0 Comments Published by gwen June 23rd, 2008 in Energy.Columnist John Reep, formerly of North Dakota, shares his pride in the state’s energy achievements in this post. While he admits North Dakota has been ridiculed or ignored by much of the nation, he also said “Ultimately, North Dakota is having the last laugh.”
The post centers around North Dakota’s prominent and increasing role in the energy industry, mostly through its vast coal and oil reserves.
From the article:
So how much oil does North Dakota have? The oil in western North Dakota and Eastern Montana is found in a geologic layer called the Bakken Formation. A recent U.S. Geological Survey assessment estimates that there are 3 billion to 4.4 billion barrels of recoverable oil in the Bakken with technology that exists today.
This estimate is 25 times greater than their 1995 estimate, primarily because of more advanced drilling technology (horizontal drilling) and better methods of mapping. The total oil in the Bakken has been estimated to be as high as 400 billion barrels, so the estimate of recoverable oil is thought to be conservative.
These numbers are large, but our consumption is massive as well; about 20 million barrels per day. North Dakota is on pace to produce over 50 million barrels of oil in 2008 and is the 8th largest oil producing state in the U.S. And their production is increasing.
I’ve said it before: North Dakota is in a great position to help the nation become less dependent on foreign oil. It’s nice that other people around the nation are beginning to see that, too.
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