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Old 04-17-2013, 11:33 AM
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Oil Boom or Bust?

http://articles.mercola.com/sites/ar...paign=20130417

Is North Dakota experiencing profit or loss? You decide. Are we being fleeced once again?
 
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Old 04-17-2013, 05:58 PM
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Quote:
Originally Posted by Weebitty View Post
http://articles.mercola.com/sites/ar...paign=20130417

Is North Dakota experiencing profit or loss? You decide. Are we being fleeced once again?
From your article:

"Two US energy consultants reportedly sounded the alarm at the beginning of 2012 with an article in the British energy industry journal Petroleum Review. They wrote that there’s a “basis for reasonable doubts about the reliability and durability of US shale gas reserves.” They claim the reserves have been “inflated” under new Security and Exchange Commission (SEC) rules that allow gas companies to make claims about the size of the reserve without an independent third party audit. This overestimation of reserves can hide lack of profitability."

and from here in Nevada with Houston-based Noble Energy Inc

Quote:
The international energy giant hopes to secure the necessary permits and start drilling by the end of the year.

In a conference call with investment analysts last month, company officials said they have secured leases in Elko County totaling 350,000 acres. They plan to spend $130 million over the next four years to develop the project, which could produce as much as 50,000 barrels of oil per day by late 2014. That's enough petroleum to match Nevada's entire 2012 oil output in about one week.
http://www.reviewjournal.com/busines...g-comes-nevada

I am not sure how the Nevadians could benefit from this, perhaps they have to explain and it seems to be a big test.
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