When we think of fuel reserves in the US, we think about coal. But it turns out that America may be sitting on a huge, 200 billion barrel oil field that has gone unnoticed and could make us energy independent.
New drilling technology could make it possible to pump the oil from the Bakken Formation, which covers North Dakota and parts of South Dakota and Montana. According to Next Energy News, “The US imported about 14 million barrels of Oil per day in 2007 , which means US consumers sent about $340 Billion Dollars over seas building palaces in Dubai and propping up unfriendly regimes around the World, if 200 billion barrels of oil at $90 a barrel are recovered in the high plains the added wealth to the US economy would be $18 Trillion Dollars which would go a long way in stabilizing the US trade deficit and could cut the cost of oil in half in the long run.”
Maybe this is why the Middle East is investing in solar energy!
Art credit: freeimages.co.uk
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