Posted on 15-06-2008
Filed Under (Business, Environment) by Lissie

Oil Shale reserves in Utah, Colorado and Wyoming have been known for nearly a century. Oil Shale reserves were known in the 1920’s unfortunately the technology wasn’t good enough at that time.
Oil shale is the oldest know source of hydrocarbons: long before the big rigs that could drill for oil 100’s of kilometers below the surface of the land or sea oil shale was known to the ancient world and prized for the rare dark medicinal sludge which seeped from it. As the price of oil goes up the economics of not only alternative oil substitutes but also alternative oil sources such as oil shales which have been known about for a long time but have always been intrinsically more expensive to develop. Too expensive to develop until the big oil reservoirs start to run down: this is what peak oil is all about: not the end of the world as we know - just the beginning of a far more interesting future especially for the companies and engineers developing technologies such as oil shale.

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Blinkweb Review on 15 June, 2008 at 9:37 am #

Consumer: “Yes, yes, I would like lower gasoline prices at the pump. Make it so!”

Oil Company: “OK, but we will need to build more oil refineries to change crude oil, shale and other hydrocarbons into gasoline. They’re big stinky factories and subject to a lot of regulations we would like to avoid.”

Consumer: “Not in my backyard!”

That’s why America was so vulnerable to the 2005 hurricanes. Most of our oil refineries were in the path of these hurricanes. Our gasoline prices jumped up after these refineries got flattened by the storms and they’ve never come back down.


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