The file footage of Williston is very, very old. I find it incredible how poor the coverage can be.
Video here.
Again, the stock question was asked: "are you worried about the boom/bust cycle." If folks actually looked at the four previous booms in the Williston Basin and compared that history with what is going on now, and if these folks would actually look at the building that's going on now, the question about the boom/bust cycle would go away.
Somehow we need to move from "are you worried about a bust?" Why would there be a bust?
The Bakken is the biggest continuous oil field in the continental United States. There are least two more formations in addition to the Bakken, and one of them may be bigger than the Bakken. Nothing suggests to me that the price of oil is headed down. Nothing suggests to me that the US will use less oil going forward. Nuclear power is dead in Japan, Germany, and now Mexico. Solar and wind are nothing more than niche energy plays.
The big question is when will "boom" become "ka-boom" or have we already seen it? I don't think so. I think 2012 will be bigger than 2011 in terms of news events in the Bakken: production, number of active rigs, fracking, mergers, buyouts.
Except for building permits, I think all other metrics in the Williston Basin in 2012 will surpass those of this year.
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