What Will Pelosi, Boxer, Obama, and Salazar do to Shut Down North Dakota Oil?
North Dakota as an oil patch state? Yes, probably in a decade or less. The state’s Three Forks-Sanish formation could rival nearby Bakken Play, a vast oil shale field. Together they could hold 200 billion barrels of oil, about four times Alaska’s entire oil cache. That’s enough black gold to provide the equivalent of 30 years’ worth of U.S. oil needs at current usage levels, without having to import one barrel from abroad. _Kiplinger_via_NewsAlertWe have heard a lot about North Dakota's Bakken Play -- particularly from Brian Wang's NextBigFuture. But larger oil fields wait to be tapped as the technology of oil discovery, exploration, and extraction is improved. Peak oil catastrophe dogma relies upon ignorance of remaining oil reserves, for credibility. As long as the profit motive is allowed to function in free societies, however, energy technologies will improve to exploit the abundant reserves of energy that wait unseen in the world around us.
Universities, the media, and the green political-industrial complex are united in the goal of energy starvation and industrial choke-off, along with population die-off. All of the policies of the Obama / Pelosi reich revolve around that underlying theme. Under the policies of the ruling reich, businesses will die, employment will plummet, home ownership will continue melting away, and power will continue to consolidate to the politically connected.
Peak oil catastrophe and climate catastrophe are two useful facades to facilitate the agenda. North Dakota is an awkward counterpoint to the talking points. There will be more -- many more. This is a time for those persons who have escaped the academic and media camps with their intellectual curiosity intact, to start paying attention. Things are soon to become interesting.
Cross-posted at Al Fin
Labels: peak oil