Quote:
Originally Posted by VTXrider
There are many issues with the Bakken reserve.
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Yea I know. I was tired and ready for bed so I didn't feel like going to much in depth. Anybody who wanted to know more about the Bakken formation or the Green River Formation could google it and find out the real truth about it instead of just reading some chain mail filled with half truths and even more misinformation.
For example that chain mail states that Bakken Formations official estimations are over 500 billion barrels. This is 100% false. The USGS officially has it estimated at 3-4 billion barrels. The US currently imports 10 million a day or over 3.65 billion a year so if the whole formation was extracted at one time that would only last one year, much less then the 41 years that claims. Oh, and for anyone who cares, the Bakken Formation is currently being extracted and as of one month ago (February 2011) it's maximum daily yield is less then half a million barrels a day.
As for the Green River Formation, while the reports do say that it is estimated at having about 1.5 trillion barrels, the report continues to say that only about 800 billion barrels are retrievable however at our current technology they estimated that it would take us 20 years just to get production up to 1 million barrels a day.