{"id":21733,"date":"2016-09-17T16:04:48","date_gmt":"2016-09-17T21:04:48","guid":{"rendered":"http:\/\/olduvai.ca\/?p=21733"},"modified":"2016-09-17T16:04:48","modified_gmt":"2016-09-17T21:04:48","slug":"the-death-of-the-bakken-field-has-begun-means-big-trouble-for-the-u-s","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=21733","title":{"rendered":"THE DEATH OF THE BAKKEN FIELD HAS BEGUN: Means Big Trouble For The U.S."},"content":{"rendered":"

THE DEATH OF THE BAKKEN FIELD HAS BEGUN: Means Big Trouble For The U.S.<\/a><\/h3>\n
The Death of the Great Bakken Oil Field has begun and very few Americans understand the significance.\u00a0 Just a few years ago, the U.S. Energy Industry and Mainstream media were gloating that the United States was on its way to \u201cEnergy Independence.\u201d<\/div>\n

Unfortunately for most Americans, they believed the hype and are now back to driving BIG SUV\u2019s and trucks that get lousy fuel mileage.\u00a0 And why not?\u00a0 Americans now think the price of gasoline will continue to decline because the U.S. oil industry is able to produce its \u201csupposed\u201d massive shale oil reserves for a fraction of the cost, due to the new wonders of technological improvement.<\/p>\n

I actually hear this all the time when I travel and talk to family, friends and strangers.\u00a0 I gather they have no clue that\u00a0the Great Bakken Oil Field is now down a stunning 25% from its peak in just a little more than a year and half ago<\/strong>:<\/p>\n

\"bakken-field-oil-production-sept-2016\"<\/p>\n

The mighty Bakken oil field located in North Dakota reached peak production in December 2014 at 1.26 million barrels per day (mbd) and is now down to 942,000 bd.\u00a0 This decline is no surprise to me or to my readers who have been following my work for the past several years.<\/p>\n

I wrote about the upcoming crash of the Bakken oil field in my article (click on image to read article)\u2013\u00a0Published<\/strong>,<\/strong>\u00a0NOV. 2013<\/strong>:<\/p>\n

\"the-coming-bust-of-the-great-bakken-oil-field\"<\/p>\n

I ended the article with these sobering words:<\/p>\n

There are only so many drilling locations available and once they run out, the Great Bakken Field will become a BUST as the high decline rates will push overall oil production down the very same way it came up.<\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n

 <\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

THE DEATH OF THE BAKKEN FIELD HAS BEGUN: Means Big Trouble For The U.S. The Death of the Great Bakken Oil Field has begun and very few Americans understand the significance.\u00a0 Just a few years ago, the U.S. Energy Industry and Mainstream media were gloating that the United States was on its way to \u201cEnergy […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[6346,1395,595,14206],"class_list":["post-21733","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-bakken-oil-production","tag-north-dakota","tag-oil-production","tag-srsrocco"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21733"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21733\/revisions"}],"predecessor-version":[{"id":21734,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21733\/revisions\/21734"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}