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2008-11-09 Home Front Economy
Oil Shale Pushed as Domestic Oil Source, but Many Doubts Remain
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Posted by ed 2008-11-09 09:01|| || Front Page|| [1 views ]  Top

#1 IIRC, Shell has a new extraction process for oil shale that produces at $30/barrel.
Posted by SteveS 2008-11-09 10:57||   2008-11-09 10:57|| Front Page Top

#2 Lots of luck getting investment $ for anything in the next 5-10 years. Putting what investment $ there is into nuclear power would pay off much better IMO.
Posted by Anguper Hupomosing9418 2008-11-09 14:51||   2008-11-09 14:51|| Front Page Top

#3 The US has enough electricity capacity, unless battery powered cars really take off. It's liquid fuels we are not producing enough of. The problem with oil shale and coal2liquids is that they require very large upfront capital investments. That is not possible in a capitalistic economy when the controlling supplier of oil can lower the price until market alternatives are bankrupt.

So don't expect a market solution to alternative fuels as long as oil is controlled by monopolistic international oil cartels. It will require gov action to set an oil price floor or subsidy when oil prices crash (conversely a windfall tax to fill a subsidy fund when oil prices are high).
Posted by ed 2008-11-09 17:53||   2008-11-09 17:53|| Front Page Top

#4 Oil shale development is currently stymied by the need for large quantities of water in an area where water is consistently in short supply. At the same time, it's possible to start small and grow, IF alternative methods can be developed that use less water. The best choices right now are domestic oil production, expanded coal production for power generation, and a government program for developing both nuclear power generation and an expanded transmission capability. Oil shale, like solar, wind, geothermal, and virtually every other possible alternative energy supply will require several technological breakthroughs before they can be considered profitable. We can't wait until that happens - we need to establish short-term solutions using existing technologies, and investment in potential long-term replacement processes. Drill here, drill now, build nuke power stations, increase the use of coal, and invest in the continued development of alternative energy capabilities. That's the only way we can get from "here" to "there" without bankrupting the nation and causing far more destruction than progress.
Posted by Old Patriot">Old Patriot  2008-11-09 19:12|| http://oldpatriot.blogspot.com/]">[http://oldpatriot.blogspot.com/]  2008-11-09 19:12|| Front Page Top

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