is there anything to this??
http://www.snopes.com/politics/gasoline/bakken.asp
This is not new about the "Bakken". Been talked about for years but it wasn't econimacally feasable at the price oil was bringing. At the current price, $46, spot price yesterday, nothing is going to happen in the Bakken now either. Alternate energy and high cost oil extraction is basically dead in the water for the time being.
The report about oil only 1000' below the surface of the Rocky Mountains is really hard to believe. 1000' oil is rare and given the geological makeup of the Rockies it seems a poor candidate for this to occur. As much geological expoloration as has been done over the years it is hard to see how it could have been overlooked.
No new oil finds. A tremendous amount of drilling and oil and gas production has been done in the last 10 years in my area. This has taken place where it was considered not worthwhile to explore until a few years ago. It is all deep and expensive to drill for. Price drives oil and gas exploration just like any other resource. Can't make a profit, it won't happen.
It still bothers me that gasoline is selling for $2.30 right here where we we produce the stuff while areas that haven't a clue what an oil well looks like are enjoying prices well under $2.00 a gallon. It is nothing new. It's always been that way.