Return of Gene

Hi, I am back, sort of.

I will cut and paste stuff for now, as typing is a great time waster.

Below is a piece I got from Irene part of which which I threw in. I have 200 unread letters so I probably have good info to use. If you want the whole article click HERE. The author is the same Corsi who wrote the Swift Boat book, so he had some cred as an iconoclast. My point is not that we should all burn oil, but that the reports of its death are greatly exaggerated. As pointed out by Kunstler, the local trouble-maker, it does does not matter if we are past peak oil, which he thinks, the fact that oil concern is one of popular concern, the prices will gyrate like crazy. He has been proven right.

Of course, it doesn't help that we block refineries and drilling. The KGB did well in supporting the anti nuclear movement, as well. Jim Kunstler admits the only viable technology to pursue, at this time, is nuclear. We just need to move to small, local reactors, as found in navy ships. They are safe, can't really melt-down in a China syndrome and can be underground and not a terrorist target. The waste problem is more than manageable, as fuel lasts 20-30 years and half lives are in dozens of years not millenia.

Billions of gallons of oil in North Dakota, Montana
Geological Survey calls find largest reserves outside Alaska

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Posted: April 13, 2008
10:31 pm Eastern

By Jerome R. Corsi
© 2008 WorldNetDaily

A shale formation stretching North Dakota and Montana may have an estimated 3.0 to 4.3 billion barrels of technically recoverable oil, according to a U.S. Geological Survey assessment.

Known as the Bakken Formation, this find would make the recoverable oil in North Dakota and Montana the largest United States oil reserves outside Alaska.

Map of Bakken Formation in northern United States, courtesy Grand Forks Herald

The recently released assessment shows a 2,800 percent, or 28-times increase in the amount of oil recoverable from the Bakken Formation, compared to the agency's 1995 estimate of 151 million barrels of oil.

According to the USGS, the dramatically increased estimate of recoverable oil in the Bakken Formation results from new geological models, advances in drilling and production technologies, and recent oil discoveries.

By the end of 2007, approximately 105 million barrels of oil have been produced from the Bakken Foundation.

"The Bakken Formation estimate is larger than all other current USGS oil assessments of the lower 48 states and is the largest 'continuous' oil accumulation ever assessed by the USGS," said a news release

The Bakken Formation lies in "Williston Basin," a geological making the announcement. formation in the north central United States, underlying much of North Dakota, eastern Montana, northwestern South Dakota, and southern Saskatchewan and Manitoba, Canada, according to the Energy Information Administration of the U.S. Department of Energy.

The EIA attributes the success of horizontal drilling and fracturing efforts in Montana as the reason a decision was made to re-evaluate the 1995 USGS Assessment of Resources that had estimated only 151 million barrels were technically recoverable from the Bakken Formation.

Lynn Helms, the director of the oil and gas division of North Dakota's Industrial Commission told the Grand Forks Herald the USGS announcement had prompted new interest from investment bankers and the oil industry.

(Story continues here)

G00d site: HERE