Bakken formation oil reserves fall well short of hopes, reviving “peak oil” concerns

April 16, 2008

In North Dakota, estimates from the US Geological Survey on the size of the Bakken Formation oil field fell well short of expectations. The USGS projected recoverable reserves of 3 billion to 4.3 billion barrels of oil using “current technology”. Some observers has projected recoverable reserves of up to 200 billion barrels, or 10 times the current US proven reserves.

Iowa State researchers predict cellulosic ethanol production will fall 80 percent short of Energy Act target

Researchers at Iowa State University have forecast that cellulosic ethanol production in the US will peak at 4.5 billion gallons by 2022, and only if US government incentives are increased to $1.55 pe...

US Markets closed for Labor Day but FTSE 100 up 11.90 to 6315.90

US markets were closed today for the Labor Day holiday but FTSE 100 stocks in London were up 11.90 to 6315.90 on comments by major banking concerns that financial prospects were better than expected. ...

Today in Biofuels Opinion: McCain, Pelosi views

US House Speaker Nancy Pelosi of California: "The fact is there are 68 million acres onshore and offshore in the U.S. that are leased by oil companies - open to drilling and actually under lease - but...

Bali emission targets softened to 50 percent cut by 2050, from 40 percent by 2030, as US, EU seek compromise

In Bali, the EU eased up on criticism of the United States at the UN Conference on Climate Change. EU officials had threatened a boycott of next month's Washington conference on climate change over 20...

Energy Information Administration says US will fall 10 percent short of 2022 biofuels goal; greenhouse gases to increase 16 percent by 2030

In Washington, the Energy Information Administration projected that the US will blend only 32.5 billion gallons of ethanol by 2022, well short of the Renewable Fuel Standard target of 36 billion gallo...

Today in Biofuels: President Bush to announce revised energy strategy, expected to call for emission caps for first time; Aussie consumers reject carbon offsets, ethanol; US corn for export, livestock to increase up to 60 percent by 2022

Top Story: US President George W. Bush is expected today to call for a change in the US climate change strategy, calling for "realistic" emission reduction targets. The administration is concerned ...

Written by Jim Lane · Filed Under Research, The Daily Biofuel Summary