Bakken & other Formations: 2 Trillion barrels oil

 How do you like the idea of paying $4/gal of gasoline?  How do you like the idea of importing $700 billion of oil from unfriendly governments?    The question is this considered public domain oil or is it being saved for national defense purposes?

James Bartis,  lead researcher with the study says we’ve got more oil in this very compact  area than the entire Middle East -more than 2 TRILLION barrels untapped.

North Dakota and Montana have an estimated 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in an area known as the Bakken Formation. A U.S. Geological Survey assessment, released April 10, shows a 25-fold increase in the amount of oil that can be recovered compared to the agency’s 1995 estimate of 151 million barrels of oil.

Technically recoverable oil resources are those producible using currently available technology and industry practices. USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources.

The full article is at this url http://www.usgs.gov/newsroom/article.asp?ID=1911