Thanks, Misthos. I had skimmed the article at the Oil Drum at http://www.theoildrum.com/node/3868 before your post. A couple of the conclusions of the article are that it seems unlikely that production will exceed 2X to 3X the current rate and the Bakken will have only a minor effect on US production or imports. Too bad. So much for hype.
Too many Americans take Canada for granted. I do not. Iâm one American who has enjoyed their hospitality and graciousness and admire them. I go there many times during the year. Canadians have to take a lot of guff from over zealous Americans who believe we can make decisions about how the world revolves without consulting them. Yet they rarely have failed to support us (But, we continue to take them for granted). I canât thank Canada enough for the support they have shown many of our causes over the years â including our lost causes. Their fine troops have died in place of our soldiers many times. Few Americans even know they have been our biggest supplier of oil for many years. For which I am grateful. Without their oil OPEC would have had us crawling on our knees begging for oil. They have been great neighbors. In the next presidential election I am going to write in Don Cherry as my choice for presidential candidate. This will tell BO to get the puck out of their.
Umm, too many Canadians take the US for granted as well. It cuts both ways. Were it not for the US, Canadians would be speaking Russian.
Beside the cost factor, when we are talking about HUGE reserves, the most important thing is the FLOW rate, the speed of recovery. (which is usually very slow because of the compicity of the process with tarsand and oilshale) When the flow rate is slow (pretty much every new discoveries), it is not going to help much on the global level, just like you can have your lakehouse burnt down inspite of having a large body of water next to it, if you can't get the water fast enough to the fire. So sure, a large reserve could last 1000 years because the speed of recovery is so slow that humans abandone using oil long time before we would reach the reservoir's peak....