There have been two major discoveries of oil fields in the past ten years.....one is in the mid Gulf of Mexico, and the other is the Bakkon field in ND. With the mid Gulf find, peak production is expected to be about 1.5 million barrels per day. With the Bakkon find, I've read anywhere from 1-3 million barrels per day. To put this all in the proper perspective, we import 10 million barrels per day. And when these wells come on line in the the next ten years, there will offsets to their production as current producing wells 'dry' up.
In other words, we are not about to drill our way out of this crisis no matter how much your little mind hopes we will.
"Cambridge Energy forecasts that the deep-water area of the Gulf of Mexico will produce 800,000 barrels of oil a day within seven years and account for 11 percent of U.S. oil production. That would not solve the world's energy problem or eliminate U.S. reliance on oil imports, but it would help stabilize U.S. oil production, which has been declining, and cover some of the world's rising demand for petroleum. Prudhoe Bay, in northern Alaska, produced about 1.5 million barrels a day at its peak."
washingtonpost.com
"It was not until 2007, when EOG Resources of Texas started a frenzy when they drilled a single well in Parshal N.D. that is expected to yield 700,000 barrels of oil that real excitement and money started to flow in North Dakota. Marathon Oil is investing $1.5 billion and drilling 300 new wells in what is expected to be one of the greatest booms in Oil discovery since Oil was discovered in Saudi Arabia in 1938."
nextenergynews.com |
