Energy companies are lining up for their shot to drill in the Dakotas and Montana after a new government report revealed that a massive geological formation stretching across the states contains twice the oil and three times the amount of natural gas than was originally believed.
While the new estimate is drawing smaller companies to the game, the larger players like Schlumberger, Halliburton and Continental Resources are pushing forward with ambitious multi-year plans to stake their claim in the industry.
Continental recently announced a five-year plan to triple its production by 2017. The company’s growth is based on success in North Dakota and Montana as well as in parts of Oklahoma.
In 1977, crack president Jimmy Carter warned that we were about to run out of oil.
Unless profound changes are made to lower oil consumption, we now believe that early in the 1980s the world will be demanding more oil that it can produce … Each new inventory of world oil reserves has been more disturbing than the last. World oil production can probably keep going up for another six or eight years. But some time in the 1980s it can’t go up much more. Demand will overtake production. We have no choice about that.
Proposed Energy Policy . Jimmy Carter . WGBH American Experience | PBS
Two years later, President Carter was attacked by a killer bunny while fishing.
While home fishing in Georgia during a summer when his popularity was at low tide, President Jimmy Carter’s small boat was “attacked” by a mysterious swimming rabbit, which the president warded off with a paddle.











