[AT] OT Gas prices new all time high :-(

[David Bruce]

If extraction was easy it would have already been done.  From what I've 
read there is great potential but still some challenges.  Drilling 
technology has moved forward greatly so hopefully those challenges will 
be met with some care for safety and the environment.  I'm sure these is 
quite a bit of oil in Bakken and it can be produced at a price.  As bad 
as high oil prices are they will spur more development of alternate ways 
of producing oil and alternate energy sources as well - much more 
effective than government subsidies in my opinion.

I've been watching the crude oil market for a long time.  There is 
little doubt that the market is distorted at times by big players and 
the price is very much dependent on the current psychology.  That said a 
small portion of my retirement account is invested in oil.

David
NW NC



On 3/9/2011 7:31 AM, Mike Sloane wrote:
> I don't buy into most of the various "conspiracy theories" that go
> around, but that information was released three years ago. You would
> think that the oil companies would be all over it and supplying domestic
> oil instead of bringing it half way around the world. But if you read
> the follow-on articles, it helps to explain why there are (supposedly)
> problems with extracting Bakken oil. It just seems to me that if it is
> economically feasible to extract oil from the bottom of the Gulf of
> Mexico, the smart folks at Exxon/Mobil can figure out ways to extract
> Bakken oil economically (if they really want to).
>
> <http://www.usgs.gov/faq/index.php?action=show&cat=21>
>
> Mike