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Saudi America

BakkenOilProduction
Slate, that’s the Washington post or a MSM. And the article linked to is remarkable, since most MSM share the feeling of excitement in the light of the prospect of a new oilboom in America. Slate is not convinced and attacks a report by Leonardo Maugeri, the most optimistic of all cornucopians. Sure there could be up to 2.7 trillion barrels worth of oil underneath the Bakken, Eagle Ford and Green River shales, but only a tiny fraction of that can be recovered. Think 1-2% for the first two regions (2 years worth of US consumption) and an unknown quality for Green River.

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Price average well in the Bakken: ca. $10 million. Slate does not believe in the myth of abundance and cautions to use the extra fuel to setup a new renewable energy base.

[slate.com]

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