Link to Bakken Conference In Bismarck Going On Now

Updates

Later, 3:30 p.m.: See first comment: a reader suggests that the Bakken is (again?) being hyped. I replied, asking for "specifics."

One of the reasons I started this blog was because other sites were suggesting that the Bakken was being hyped. I agreed from the beginning that the Bakken would not solve the world's energy challenges, but it would prove to be quite a boon to local residents. Wow, was that an understatement.

These are facts:

• from almost out of nowhere, North Dakota moved from 7th in the nation to 2nd in the nation in oil production due to the Bakken (technology and reserves)
• North Dakota moved to 2nd in oil production, passing Alaska (now 3rd) almost a year earlier than originally expected
• conservative UND analysis suggests that drilling the Bakken will continue through 2030, and that the Bakken will continue to produce through 2100; that is an old report based on old estimates and does not include formations outside the Bakken Pool
• "everyone" agrees that at least 5,000 more housing units are needed right now in Williston, despite all the building that has gone on for the past two years; [for purposes of this post ignore the following: some say 7,000 more unis are needed right now; and others suggest 24,000 new units will be needed over the next two years -- proposed by developers putting private money at risk; not public officials)
• a publicly traded company, not any state official, is estimating that the Bakken Pool has original oil in place that greatly exceeds earlier estimates; their new estimates are staggering; comparable to Saudi Arabia
• Bakken light, sweet oil is the best oil in the world: light and sweet

The list goes on and on, but you get the idea. Not one item above is state-generated hype. Several of the bullets are already fact; one of the bullets is from a conservative university-related study; the second-to-last bullet is not hyped by the state, but being used by the oil industry for planning purposes.

It is understandable why the USGS is not going to re-accomplish a new study any time soon.

And, of course, a state official at the conference recognized that about the only thing that will stop the energy juggernaut (a term used by the API to describe North Dakota) is a permitorium by the EPA. That concern is also not being "hyped."

Original Post

Link to the Bakken conference going on now in Bismarck, ND.

Thank you to a reader for alerting me to the story.