I would not argue that point, I think it was wrapped up in there somewhere's when he was discussing how cost/price work together and what price is needed to recoup their 35Billion in the hole. I don't see them ever regaining it. It seems that fracking may be an expensive mess.

Man-O-Man!
I'm sure glad that some folks in the Gulch know what's going on.I would have taken the article at face value until I had a chance to check on it, you guys have done it for me. Three Huzzahs!

How can it really affect the US? T Boone Pickens saying that we have trillions of cubic feet of natural gas we could draw from as fuel. Why would a lose of one field could really cause a problem?
If we could get the transportation industry change fuel to natural gas instead of gasoline that would slow the depletion of US oil fields.

This guy has apparently ignored the development of battery technology over the past 10-15 years. That will only get better. As for oil I've been hearing about "Peak Oil" since the early 50's. This guy is simply an ivory tower theorist with no common sense.

I was just hoping someone would answer my question without a ? so I may decide whether one or hopefully more of you knows what you are talking about pertaining to the yes or no of drill, baby, drill..

It would be nice to have such a choice on the assets stolen from us by looters, too. A sizable portion of the production of those harmless folk ends up being spent by the fedgov in nefarious schemes to gain power and wealth for themselves and those who paid for their campaigns.

If true and accurate, which I doubt, It still projects out to 2030...did anyone really think the well would produce for ever? If Government and the non-competitive establishment got out of the way...we'd have those common sense and renewable alternatives. Solar and Wind are not the end all answer.

allosaur,
haven't you heard; believe nothing of what your read (ayn rand is the exception) and only half of what you see!

Oil production is a function of market prices, which are down. Many drilled wells have been capped awaiting a rise in market prices, and numerous fields haven't even been drilled for the same reason. This article borders on fraud.

I do not always trust what me dino reads.
Hark! To say, drill, baby, drill, or not to say, drill, baby, drill, that is my question.

I for one would much rather pay a little more at the pump if I knew the source of my fuel wasn't supporting domestic & global terrorism. Pretty sure the folks in North & South Dakota and the rest of the Bakken region are pretty harmless folks...

"Those who moved to the frigid state of North Dakota with Dollar signs in their eyes and images of sugar-plums dancing in their heads will realize firsthand the negative ramifications of all BOOM & BUST cycles."

Personal note: Those of us who have worked in the gas/oil extraction business long enough, know the boom/bust cycle exists. And how to work it. From 1981 to Feb 1983, I was a company driver outside of Lysite, Wyoming, and made (and saved) enough to pay for my Doctorate at the U of Wyoming.

When hauling tankers in the Pinedale Anticline from 2006-2010, my best year as an owner/operator was a gross of $246,000. A coworker, went to the Bakken, started a hauling business and at his peak, had 117 trucks running for his company, grossing $3,000,000+ per month. The key factor is to KNOW that the bust is coming and plan accordingly.

The profit margins are being actively driven lower by Saudi dumping on the market. They even admitted to that fact and that their goal was to bankrupt American producers so that they could once again jack the price back up to $100/barrel.

Of course. Doesnt take a rocket scientist to see that

We heard a lot about "peak oil" in the 70's that hasnt happened so far. I suspect you are right that this site's bias is showing through.

Production HAS gone down as prices are reduced and demand has fallen. The free market has taken these steps.

Regardless if the bakken oil field dries up or not the US has big trouble ir better said is in big trouble. our savior oil companies can get oil from all over the world cheaper than the bakken field could give us. Just read the news of the day; deblaiso is not alone in wanting more muslims here as does this lunatic soros. need I say more!

Hi nickursis,
I would liken this article to the stories in the 70's that said at present growth rate of consumption extrapolated forward we would run out of oil by the end of the century. The price shock of a drop from $125 to $30 now $45 is what has caused the cap ex cuts and the decline in production not the lack of oil.
With Regards,
DOB

Hi Freedomforall,
The recent decline in oil prices was caused by the Saudi's flooding the market to try to preserve their market share. This action is the result of the tremendous success of fracing. Saudi actions have slashed cap ex for exploration and production co.s in the US and giving time for the Global Warming crowd to build momentum against our countries vast resources and energy industry.

I have often wondered how so many fossils and plants could have died and been deposited 4 miles under the sea floor that is 2 -3 miles under the surface of the ocean!
Regards,
DOB

Indeed, I hope some real smart ones learn to use the global warming thing to everyones advantage. If I had a Chem Eng degree, I would be thinking hard on how to do it and find a smart Mech Eng to help.

I just thought that my comments needed further explanation ;^)
Ingenuity will win out if left unmeddled by looters.

That's fine Freedom, I am not disparaging anything you posted, it all is good debate, and also the articles are very interesting, The mention of methane reminds me that one of the "horrible consequences" of "global warming" is that the permafronst is said to have billions of cubic feet of methane locked up, it would behoove someone to come up with a way to tap it. I would assume some brilliant chem engineers could figure out an efficient way to make a fuel from it,although something else is that the byproducts of combustion probably should be considered in it as well, if feasible. But it would address 2 or 3 problems at once.

My comment regarding free market forces were based on the drop in price arguably from a decrease in demand due to the debt bubble popping. Thta has caused drilling, exploration, and production companies to cut back activities and production until demand and prices recover.
My comment on renewable energy was based on the possibility of hydrocarbon fuels comming only from decay of fossils being wrong, and the possibility of hydrocarbon fuels being created (renewed) by natural forces within the earth instead of or in addition to fossil decay.
For example:
http://principia-scientific.org/russi...
http://www.wnd.com/2008/02/45838/

I defend neither of these theories of the source of hydrocarbon fuels, but I think either or both could have validity.

You are correct in that there was no causality proven, it may be that the profit margin for cracking is so low it is not worth it to produce.

I think his hypothesis is based on the output vs the total debt carried and the fact that it was trumpeted as a huge gold rush. The overall investment in it is not matched by either it's output or longevity. I also think he was focusing solely on that one field and it's implications for what happens as demand does drop, because overall reserves should be up based on the huge claim of the West Texas oil fields announced a few weeks ago. BY the way, the Germans made oil and gas from coal, but not efficently. As far as a renewable goes, I am not sure there is a provable method today, as it is basically an energy state change, so you need to convert a set amount of energy into. I am not an oil or energy guru so I just thought the premise he proposed was interesting from the aspect of what will happen to ND in the next few years, when they thought they were on the road to riches. Also, I wonder what that means to the Canadian Tar Sands.

I agree with FFA. Hard evidence of depletion at the source has not been presented. It would appear that the author is only basing his hypothesis on symptoms rather than cause.