• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s ...

B

BDBoop

Banned
DP Veteran
Joined
Jun 17, 2010
Messages
9,800
Reaction score
2,719
Gender
Undisclosed
Political Leaning
Other
Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s Biggest - Christopher Helman - Fuel - Forbes

Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s Biggest

Thatʼs nothing, says Hamm. He’s convinced that the recoverable bounty is more like 24 billion barrels (20 billion of crude, plus the equivalent of 4 billion barrels in natural gas and other liquids). If true, this is oil on an outlandish scale–enough to double America’s proven reserves; nearly as much as ExxonMobil’s 28 billion in reserves; enough oil to supply the entirety of U.S. demand (roughly 20 million barrels per day) for three years. It would rank high up on the world’s biggest oilfields.
Click to expand...
 
Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

Eh, hopefully for us.

It's been good to us lately. :)
 
Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

At this stage I think the more important point is at what rate can we extract the oil.
 
Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

That just can't be. We're almost out of oil and have to depend on foreign oil, because of it.
 
Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

apdst said:
That just can't be. We're almost out of oil and have to depend on foreign oil, because of it.
Click to expand...

Uhh no, where did you get that idea?
 
Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

Deuce said:
Uhh no, where did you get that idea?
Click to expand...

That's what the Libbos have been telling us for years.
 
Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

According to Nation Master dot Com the Us consumed 18,690,000 bbl/day, in 2009


According to the same source the US is number 14 in reserves with 22,450,000,000 barrels.
This was before this find, so this more than doubles what we have if I counted the zeros right.

Now all we have to do is drill baby drill, if the environmentally ill, the EPA and Obama, will allow it.

If someone wants to make the lame asses claim that if we start drilling today it will take two years for it to help.

You ask them how long it will take if we never start?

The threat that we will be self sufficient should drive down the OPEC prices down in the hope we will put off the drilling if it's cheap enough.

Yes China will step in but they are already in the game at number 2 using 8,200,000 bbl/day which means they can't come close to filling any gap we could create.

Announce massive drilling coming because of current prices and watch the prices drop.

Hate to use a cliché, but this would be a win, win situation.


Oil consumption statistics - countries compared - Nationmaster
 
Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

This is great news! It will also dovetail with the environmentalists. There's no beautiful scenery to spoil in ND.
 
Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

Councilman said:
According to Nation Master dot Com the Us consumed 18,690,000 bbl/day, in 2009


According to the same source the US is number 14 in reserves with 22,450,000,000 barrels.
This was before this find, so this more than doubles what we have if I counted the zeros right.

Now all we have to do is drill baby drill, if the environmentally ill, the EPA and Obama, will allow it.

If someone wants to make the lame asses claim that if we start drilling today it will take two years for it to help.

You ask them how long it will take if we never start?

The threat that we will be self sufficient should drive down the OPEC prices down in the hope we will put off the drilling if it's cheap enough.

Yes China will step in but they are already in the game at number 2 using 8,200,000 bbl/day which means they can't come close to filling any gap we could create.

Announce massive drilling coming because of current prices and watch the prices drop.

Hate to use a cliché, but this would be a win, win situation.


Oil consumption statistics - countries compared - Nationmaster
Click to expand...

If only they can drill in North Dakota

Oh wait they already are, and to my knowledge, (fiddytree will have more first hand knowledge) drilling nearly as fast as they can with the resources in the area (people, pipelines etc)
 
Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

Mickey Shane said:
This is great news! It will also dovetail with the environmentalists. There's no beautiful scenery to spoil in ND.
Click to expand...

Badlands, the prairies, etc. There is enough controversy coming up about the technique of fraking, actually. There is a lot of worry about spills and other foul-ups.
We are mostly enjoying the comforts it brings and the jobs that are flocking in, increasing our economy dramatically. It's just our flood that is keeping us occupied at the moment.

http://seekingalpha.com/article/276955-brigham-exploration-fear-not-the-flood

1. Monthly oil production dipped slightly in April, but is above its year-ago level 23% and above the April level two years ago by 78.5% (see chart above). Oil production this year has averaged more than 10.5 million barrels per month, which is double the monthly production levels in 2008, and triple the levels from five years ago.

2. Oil-related employment in North Dakota has more than doubled in just two years, from 6,800 jobs in May 2009 to 15,200 jobs in May of 2011. While the national economy struggles with another “jobless recovery,” North Dakota has continued to add jobs, and not just oil-related jobs. The overall state employment level reached an all-time high in May and is 2.5% above the June 2009 level when the recession ended.

3. In the first quarter of 2011, North Dakota led the country with a 6.9% increase in personal income. Second place Wyoming at 2.6% wasn’t even close, and North Dakota’s increase was almost four times the national average of 1.8%.

4. In 2010, North Dakota led the country with a 7.1% increase in real state GDP, almost three times the national average of 2.6%, and two full percentage points above the 5.1% growth for second-place New York.

5. North Dakota continues to lead the country with the nation’s lowest jobless rate. In May, North Dakota’s unemployment rate of 3.2% was lower than second-place Nebraska’s rate of 4.1% by almost a full percentage point, and was almost six percentage points below the national rate of 9.1%.

6. As a result of North Dakota’s booming oil-based economy, tax collections from 2009-2011 have exceeded projections by $237.5 million. Through May, sales tax collections exceeded projections by 13% and income tax revenues by 10.6%.

Bottom Line: North Dakota’s impressive economic success clearly illustrates some of the benefits of domestic energy production: more jobs, record economic growth, huge gains in personal income, and even more tax revenues. There’s no reason that the economic success of North Dakota can’t be duplicated elsewhere, if we would only open up more U.S. land and off-shore areas to domestic energy exploration and drilling.
Click to expand...

http://www.dailymarkets.com/economy/2011/06/30/north-dakotas-booming-oil-economy/
 
Last edited:
Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

In essence, the people of North Dakota are just as conscious as anyone else about the desire to keep its community safe from environmental dangers and still have that never-ending debate about what is too much pollution, what is too dangerous, what is too little use of our natural resources, our local economy, and so forth.
 
Last edited:
Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

Drill!!!!!!!!!!!!!!!!!!!


Tim-
 
Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

apdst said:
That's what the Libbos have been telling us for years.
Click to expand...

Your inability to discuss oil as a reasonable adult much less represent positions of your opponents to a status even remotely similar to their original statements is a sign of severe immaturity.
 
You must log in or register to reply here.
Back
Top Bottom