Drill Baby Drill working Great in North Dakota

Posted by PITHOCRATES - May 19th, 2012

Week in Review

President Obama keeps saying that the United States uses the vast majority of the world’s oil while having some of the smallest proven oil reserves.  This is his justification for shutting down the oil exploration industry wherever he has the power to shut it down.  Thus restricting the amount of oil the U.S. brings to market.  And increasing the price at the pump.  And he belittles anyone who suggests we should drill for more oil.  That ‘drill baby drill’ is no solution.  Even if they put an oil rig on the east lawn of the White House.  Because we just don’t have the oil reserves to make a difference.  But he’s wrong.  Very, very wrong.  For drill baby drill DOES work.  As they’re proving it in North Dakota (see ND becomes nation’s second-leading oil producer by JAMES MacPHERSON, Associated Press, posted 5/15/2012 on Yahoo! News).

North Dakota has passed Alaska to become the second-leading oil-producing state in the nation, trailing only Texas, state officials said Tuesday…

North Dakota owes its rapid rise from No. 9 in just six years to improved horizontal drilling techniques in the rich Bakken shale and Three Forks formations in the western part of the state.

“No. 2, who would have thought?” said Ron Ness, president of the North Dakota Petroleum Council, which represents several hundred companies working in the state’s oil patch. “In 1999, we had zero rigs working and people left this industry for dead in North Dakota. Technology, geology, price and the business climate changed that.”

From zero rigs in 1999 to 6,921 working wells today.  Thank God they didn’t think like President Obama in North Dakota.  Or they wouldn’t have used new technology to find new oil reserves where they thought there were none before.  Proven reserves are oil deposits that they have already found. Which can be low if you are hindering the oil exploration industry.  But no one knows how much oil we have until we start looking for it.  And there’s probably a lot more out there.  All we have to do is look for it.  Like they have in North Dakota.

So drill baby drill.  Because it does work.  All you have to do is to visit the oil fields in North Dakota to know that it does.

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