Comments on: Everyone’s Excited About The Bakken Formation http://bismarckndblog.com/2008/04/06/everyones-excited-about-the-bakken-formation/ Life in the Bismarck area, as well as the North Dakota lifestyle, upcoming news, agriculture and the ever-popular renewable energy industry. Wed, 20 Aug 2008 12:10:59 +0000 http://wordpress.org/?v=2.6 By: Clint http://bismarckndblog.com/2008/04/06/everyones-excited-about-the-bakken-formation/#comment-2711 Clint Fri, 11 Apr 2008 21:59:08 +0000 http://bismarckndblog.com/2008/04/06/everyones-excited-about-the-bakken-formation/#comment-2711 At this point it's still a matter of profitability. In many places, drilling the Bakken can be profitable given today's crude prices. In other areas of the Bakken, it may not still be cost effective. At least people are eager to find out. One factor which seems to be absent in this round of Bakken Fever™ is manipulation by OPEC. It used to be that oil supplying nations would flood the market, dropping the price, as soon as they'd see their prime customer, the good ol' US of A, starting up domestic exploration. With the developing world's appetite for fossil fuels now, however, there will still be plenty of money in the Chinas and Indias of the world. For that reason I don't expect OPEC will be too concerned with discouraging our domestic exploration (what little bit the eco-alarmists will allow). Clint F BismarckMandanBlog.com At this point it’s still a matter of profitability. In many places, drilling the Bakken can be profitable given today’s crude prices. In other areas of the Bakken, it may not still be cost effective. At least people are eager to find out.

One factor which seems to be absent in this round of Bakken Fever™ is manipulation by OPEC. It used to be that oil supplying nations would flood the market, dropping the price, as soon as they’d see their prime customer, the good ol’ US of A, starting up domestic exploration. With the developing world’s appetite for fossil fuels now, however, there will still be plenty of money in the Chinas and Indias of the world. For that reason I don’t expect OPEC will be too concerned with discouraging our domestic exploration (what little bit the eco-alarmists will allow).

Clint F
BismarckMandanBlog.com

]]>