Free Ethical Oil!

Before the Russians free theirs...

It’s called The Bazhenov. It’s in Western Siberia, in Russia. And while the Bakken is big, the Bazhenov — according to a report last week by Sanford Bernstein’s lead international oil analyst Oswald Clint — “covers 2.3 million square kilometers or 570 million acres, which is the size of Texas and the Gulf of Mexico combined.” This is 80 times bigger than the Bakken.
This formation has 126 trillion barrels of oil equivalent biomass If the Bazhenov is similar to Bakken, then a year 2000 estimate of 140 to 210 billion barrels of recoverable oil could be 15 to 100 times too low. The increase would be because of the improved horizontal drilling technology enabling a higher recover rate.

There you go, Suzuki & Co. - knock yourselves out.

Posted by Kate at 6:48 AM| Comments (14)