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I've been thinking about buying a smaller car like a Honda Fit.
SOUTH BEND, Ind.— Indiana residents say record-high gasoline prices are forcing them to park their cars, stay home more often and ride their bicycles.
"They're killing us. It's too expensive," said Luis Loredo, a 31-year-old painter from South Bend. "Sometimes I can only buy $5. Five dollars is nothing now. If I don't have to go, I don't go nowhere."
Some Big New Oil Reserves Are Coming
March 21, 2011 | 2 Comments
The U.S. oil industry, the world leader in technology in extracting oil, is leading an new oil boom from the reserviours that were overlooked because the oil wouldn’t flow from tight sands and shale rocks. For now the big rush is getting underway from the U.S. example of natural gas and oil recovery using horizontal drilling and formation fracturing into the shale rocks.
So, how much oil is there in newly economic shale oil deposits around the world? It will take decades to find out. On the other hand, that’s not stopping energy companies and government agencies from offering some huge prospective resource guestimates of tens of billions of barrels of oil, all with almost no data to back it up.
There is the U.S. and Canadian Bakken field with an operating history. From that a prospective resource an estimate of the amount of oil that might be the recoverable volume of oil in a reservoir.
Bakken Formation in the Williston Basin. Click image for the largest view.
All that new Bakken wealth creation has both the industry and investors very excited about finding huge new shale oil plays around the globe. Some great prospects are beginning to show fruit...............
With the loss of revenue of fewer gasoline taxes being collected, they'll have to raise the gas taxes even higher. Just watch.
Hope to see hell break loose.
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