Study reveals huge U.S. oil-shale field(new technology may end foreign oil dependence)

[ARCHIVED THREAD] - Study reveals huge U.S. oil-shale field(new technology may end foreign oil dependence)

Posted: 9/1/2005 1:16:44 AM EDT

Study reveals huge U.S. oil-shale field
Jennifer Talhelm
The Associated Press
September 1, 2005
seattletimes.nwsource.com/html/nationworld/2002463368_oilstudy01.html
WASHINGTON — The United States has an oil reserve at least three times that of Saudi Arabia locked in oil-shale deposits beneath federal land in Colorado, Utah and Wyoming, according to a study released yesterday.

But the researchers at the RAND think tank caution the federal government to go carefully, balancing the environmental and economic impacts with development pressure to prevent an oil-shale bust later.

"We've got more oil in this very compact area than the entire Middle East," said James Bartis, RAND senior policy researcher and the report's lead author. He added, "If we go faster, there's a good chance we're going to end up at a dead end."

For years, the industry and the government considered oil shale — a rock that produces petroleum when heated — too expensive to be a feasible source of oil.

However, oil prices, which spiked above $70 a barrel this week, combined with advances in technology could soon make it possible to tap the estimated 500 billion to 1.1 trillion recoverable barrels, the report found.

The study, sponsored in part by the U.S. Department of Energy, comes about a month after the president signed a new energy policy dramatically reversing the nation's approach to oil shale and opening the door within a few years to companies that want to tap deposits on public lands.

The report also says oil-shale mining, above-ground processing and disposing of spent shale cause significant adverse environmental impacts. Shell Oil is working on a process that would heat the oil shale in place, which could have less effect on the environment.

Posted: 9/1/2005 1:26:24 AM EDT

[#1]

That's been going on for several decades now.

Nothing much has really come of it.
Of course with the current price of oil it might become feasible.

Posted: 9/1/2005 1:27:34 AM EDT

[#2]

Quoted:
That's been going on for several decades now.

Nothing much has really come of it.
Of course with the current price of oil it might become feasible.

fix your damn avatar

Posted: 9/1/2005 1:29:15 AM EDT

[#3]

Quoted:
Quoted:
That's been going on for several decades now.

Nothing much has really come of it.
Of course with the current price of oil it might become feasible.

fix your damn avatar

Yeah, isn't that specop007's avatar?

with new tech and $100 barrel oil..........

Posted: 9/1/2005 2:09:58 AM EDT

[#4]

We have plenty of oil. We have limited production of it, limited capacity to increase production, and limited ability to refine that production.

Where/when I grew up, we have had wells but out 1,000's of barrels a day (for about 100 days). But it cost 1.5 million at the time to drill them. At $20/barrel it was not feasable. Is feasable at $50 - but now the drilling capacity we had in the 70's, so we will have to wait.

Posted: 9/1/2005 2:15:51 AM EDT

[#5]

This article contradicts the feasibility of extracting oil from shale. Not saying either one is right... just a conflicting point of view.

www.ar15.com/forums/topic.html?b=1&f=5&t=383895

Posted: 9/1/2005 2:30:23 AM EDT

[#6]

When I was in college my geology professor talked about extracting oil from shale . . . he worked on the project that piloted this in the LATE 70's. Once the price of oil dropped back down . . . so did the oil companies interest in getting it done.

Economic viability is lacking. If the price of oil is high enough you can pay for it, but it is so much like mining coal . . . go ahead and mine coal.

Posted: 9/1/2005 2:30:37 AM EDT

[#7]

I grew up in the heart of that country. Right now people are talking about "the new technology" but this has gone on for ever. My great Grandfather tried getting oil from shale over 100 years ago.

Posted: 9/1/2005 4:26:42 AM EDT

[#8]

We need more refineries !!!!

[ARCHIVED THREAD] - Study reveals huge U.S. oil-shale field(new technology may end foreign oil dependence)

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