Your Pessimism May Be Unwarranted

I grew up on the Eve of Destruction.  Remember that?  We were all going to die!  If The Bomb didn’t get us, then The Population Bomb would.  We wouldn’t be able to hear the spring, and Richard Nixon was coming (Oh No!  They’re gunning us down!  PANIC!).

Ahem.

Matt Hoy links to this report, hinting that the concept of “peak oil” may be just a bit overblown, too.

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.

It boosts America’s oil reserves by a factor of 10.

Sometimes faith isn’t enough.  Sometimes the future is so bright that you just have to wear shades.

Advertisements
Explore posts in the same categories: Economics

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: