Crude Oil Coming Down

[thrunner]

Quote from moneymonger:Just wait till news of this fully hits the news wires:http://www.mwilliams.info/archive/2008/04/bakken-formation-oil-field.phpThere is enough oil here to fully pay off the national debt of the USA!

This is the same old story with difficult shale oil recovery :

A conservative estimate of Bakken's technically recoverable oil would be 1% to 3%, or between 4.1 and 12.4 billion barrels (0.6–2 km³) of oil, due to the fact that Bakken's shale is so tight.... The key phrase is "technically recoverable". As technology improves (and oil prices rise) the amount of "technically recoverable" also increases.

 

[Tecno]

I'm still glad so much (8x more than Alaska) is down there in Dakota that we can get if recovery for oil goes is efficient.

 

[spersky]

Be careful, I thik oil will make a new all time high this week.


Look at the price action. It has been very bullish.