Diary

oil available in U.S. for $16 / barrel?

As I may have mentioned, my husband works for an oil refinery.  He received an e-mail yesterday from a friend .  Some of you may already know

about this, but it’s the first I’ve heard about it.  The U.S. Geological Service

issued a report in April, ’08 about the Bakken oil deposits in N.& S. Dakota,

& eastern Montana.  This oil is in shale & hard to get out, so only a small

% is currently recoverable, but you know if there is money to be made,

the technology will be improved or reinvented.  The Energy Information

Administration (EIA) estimates it at 503 billion barrels.  Even if just 10% of

the oil is recoverable, we’re looking at a resource base worth more than

$5.3 trillion. For more information go to

www.usgs.gov/newsroom/article.asp?ID=1911, or you

can google the Stansberry Report.

asp?ID=1911.