North Dakota is the Bakken Shale formation. It’s not oil shale however it is oil deposits in rock. Kind of a pain to get out. Anyway recoverable reserves are from 500 million to 2.1 billion. That’s about 4-12 days for the world. About 16-48 days for the US. Considering it will take 15-20 years to remove. Well, you can see it really won’t help price.
The other oil shale mentioned, well that is a net energy loser. It takes more to get it out. It will never become economical.
The world uses 3 for every 1 it finds. Not the best system. There is gonna be problems.
We’ll probably be down to one national airline within 24 months.
