There is more oil there than in the entire middle east combined. It is between 1.2 and 1.5 Trillion barrels. And the reason it has gone undeveloped is because in the past oil was much cheaper. It was around $22 per barrel in 2003, yet mass production of oil shale would cost over $30 per barrel to produce compared to $1.50 in the middle east, so it was impossible to make a profit. now that oil is so expensive, it is profitable. Shell oil company wants to start extracting oil from there.
So gasoline has to remain expensive in order for this technology to remain profitable?
smythdav 3 years ago
Crap,,, crap and nothing but crap,,,,
the city of RIFLE does not want development HUH,,,, how about UTAH and WYOMING?
Why do you leave the impression that people there don't want the development when THEY DO!
Crap video,,,,
Tell your "lets go slow on shale oil develpment" lie to the rest of the nation paying $4.00 gas,,,
Why don't you tell us how much gas is down there? Is it to much for you to want to talk about?
Retards like you need to be voted OUT of the way. NOW
sadskippy 3 years ago
There is more oil there than in the entire middle east combined. It is between 1.2 and 1.5 Trillion barrels. And the reason it has gone undeveloped is because in the past oil was much cheaper. It was around $22 per barrel in 2003, yet mass production of oil shale would cost over $30 per barrel to produce compared to $1.50 in the middle east, so it was impossible to make a profit. now that oil is so expensive, it is profitable. Shell oil company wants to start extracting oil from there.
EricTokar 3 years ago
So gasoline has to remain expensive in order for this technology to remain profitable?
smythdav 3 years ago