In the early 1980s, industry and government took a hard look at the economics of extracting oil from vast deposits of shale that lie beneath the western United States. Oil prices subsided, and interest waned. With oil prices spiking and global demand showing no signs of abating, reexamining the economics of oil shale makes sense. In this report, the authors describe oil shale resources; suitability, cost, and performance of new technologies; and key policy issues that need to be addressed by government decisionmakers in the near future.

This is a print on demand edition of a hard to find publication. Rising oil prices and concerns over declining petroleum production worldwide revived U.S. interest in oil shale after a two-decade hiatus. In addition to technological challenges left unsolved from previous development efforts, environmental issues remained and new issues have emerged. Challenges to development also include competition with conventional petroleum production in the mid-continent region, and increasing petroleum imports from Canada. Contents of this report: Background; Oil Shale Resource Potential; Challenges to Development; Commercial Leasing Program; R&D Program; Programmatic Environ. Impact Statement; Mineral Leasing Act Amendments; Commercial Lease Sale and Royalty Rates. Illus.

This book looks at developments in oil shale which is the largest untapped domestic resource with the greatest potential to decrease our dependence on foreign oil. Over 70% of the world's oil shale resources occur in the United States. These deposits contain over 1.5 trillion barrels of shale oil. If only 800 billion of this can be recovered, that alone would supply all of our current domestic petroleum needs for the next 100 years or more. The 2005 Energy Security Act demonstrated that the US government might finally encourage the development of these valuable oil shale resources. The nation's production of crude oil has been declining since the 1970s while its demand has continued to increase, making the country increasingly dependent on imported oil. However, there are lingering questions about our ability to produce shale oil in this country. Most of these questions discussed in this book, centre on key issues such as: (1) is the technology available and will it work on a large scale?; (2) can shale oil be produced profitably?; (3) can shale oil be produced in an environmentally responsible manner?; and (4) what are the socio-economic impacts going to be on the local regions where these developments occur? Oil shale requires an expensive, high-risk, long-lead time development program and the federal government controls most of the resource. They will therefore ultimately determine whether or not shale oil is ever produced at a level sufficient to improve our economic and national security.

Discusses possibility of large oil company monopolization of oil shale development in the Rocky Mountains.

Oil Shale

Annotation The report describes the oil shale resources in the western United States; the suitability, cost, and performance of available technologies for developing the richest of those resources; and the key energy, environmental, land-use, and socioeconomic policy issues that need to be addressed by government decision makers in the near future.

Federal interest in oil shale dates back to the early 20th century, when the Naval Petroleum and Oil Shale Reserves were set aside. Commercial interest followed during the 1960s. After a second oil embargo in the 1970s, Congress created a synthetic fuels program to stimulate large-scale commercial development of oil shale. Commercially backed oil shale projects ended in the early 1980s when oil prices began declining. High oil prices have revived the interest in oil shale. Contents of this report: Intro.; Geology and Production Technology of Oil Shale; History of Oil Shale Development; Incentives and Disincentives to Development; Policy Perspectives; Legislative History to 2006. Charts and tables. This is a print on demand report.

Discusses possibility of large oil company monopolization of oil shale development in the Rocky Mountains.