Ravi
Diamond Member
Either you aren't reading or your just flat out lying, which is it?
American Solutions - RAND: U.S. Oil Shale Resources Are Three Times Larger Than the Current Oil Reserves in Saudi Arabia
The same RAND study indicated that technology exists today that would allow oil shale extraction and that the process would be cost effective once the price of a barrel of oil was $95 (p. x). The price of a barrel of oil today is around $130.
However, Shell Oil has been investing in technology that would make extraction much cheaper than standard pit mining:
Shell Oil Company has successfully conducted small-scale field tests of an insitu process based on slow underground heating via thermal conduction. Larger scale operations are required to establish technical viability, especially with regard to avoiding adverse impacts on groundwater quality. Shell anticipates that, in contrast to the cost estimates for mining and surface retorting, the petroleum products produced by their thermally conductive in-situ method will be competitive at crude oil prices in the mid-$20s per barrel.
I meant your previous one, the one from NPR the other day. If that wasn't you, I apologize.