'Don't worry. Pekelo will find a way to make the Montana coal disappear.' Talk about Pekelo's 'Serial Vanishing Acts' Each one diffenrent from before ;-)
I was just on a business trip to ND, and from the talk of the locals, this is not an insignificant find - big bucks going into it, and they expect to experience a local economic boom while the rest of the nation goes into recession. Its weird that this isn't getting much news attention.
those who think 'technology' will bring massive amounts of oil out of the ground and kill the oil bull should take a look at the productivity statistics on the last years(of the economy in general), all the huge technology of these days is helping the economy so little it makes no sense to expect that oil output to increase in any meaninful way
Same with Michigan. I know farmers selling mineral leases in the lp under the radar. That's where the Dart fortune came from. You know, the styrofoam cups you drink out of... Now it's easily recoverable at these prices at 4,000 ft.
You can find all the oil you want. Problem is nobody wants to build the extra refining capacity to handle it. "Not in my backyard!" I don't think we have built a new refinery in this country since the late 70's.
LOL, I was going to say the say thing. The only problem with the articles is it doesn't fit with his world view which is fucked. John
We were hearing that there was more than enough oil in shale up in canada back when oil was seventy a barrel or so, but shale was not economic. Now that oil is over 110, is shale beginning to be economic?
I do remember the term shale being used in the discussions. They also threw out "breakeven at $50 a barrel", hence the hysteria over it.