John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: nspolar who wrote (9004)	3/16/2008 12:52:15 PM
From: Hawkmoon	of 33421

In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation that covers North Dakota and portions of South Dakota and Montana. With new horizontal drilling technology it is believed that from 175 to 500 billion barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951. WOW!!! Could this be why T. Boone Pickens stated he was going short oil?? 500 Billion barrels would be TWICE the proven reserves of Saudi Arabia!!! The release of this report could be market signal that bursts the overt speculation in oil and reshifting the flow of capital back into the US dollar.. Might have to move back out west.. Definitely believe that N. Dakota/Montana would set up an equivalent to the Alaska Permanent Fund.. ;0) Hawk

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