The Energy Policy Act of 2005

[Canuck_Buck]

On August 8, 2005, President Bush signed into law a new energy mandate.

This mandate is called The Energy Policy Act of 2005. It calls for the opening phases of oil extraction in the Green River Formation "“ the world"™s most concentrated energy source.

We"™re finally ready to tap the largest oil reserve on the planet...

"œThe United States Could become "˜The New Middle East"™"�

~ U.S. Energy Department Survey

http://www.stansberryonline.com/PRO/20060515-OIL-COL.asp?pcode=EOILG723&alias=200604OIL-49

What do you all think about this Oil Shale boom thing? Have any of you heard of this ?

[Tazman]

I have heard of it, and if you read far enough into the article you gave the link for you will see that it is basically a sales ad for investors into a company that may or may not get a contract/permit to pump the oil.

The last I heard of shale oil recently was that it is still expensive to get the oil from, but as the technology improves and oil prices go up it may in the future become an economic boom for the US.

I would not drop any money into this scheme/company yet.

[Tazman]

Here are a few links to oil shale.

This one was a paper done in May of 2005 that states that it is not economicly viable yet.
http://emd.aapg.org/technical_areas/oil_shale.cfm
Here is a quote from the article.

The amount of shale oil that can be recovered from a given deposit depends upon many factors. Some deposits or portions thereof, such as large areas of the Devonian black shales in eastern United States, may be too deeply buried to economically mine in the foreseeable future. Surface land uses may greatly restrict the availability of some oil shale deposits for development, especially those in the industrial western countries. The bottom line in developing a large oil shale industry will be governed by the price of petroleum-based crude oil. When the price of shale oil is comparable to that of crude oil because of diminishing resources of crude, then shale oil may find a place in the world fossil energy mix.

Here is a newspaper article on it from 2005.
http://seattletimes.nwsource.com/html/nationworld/2002463368_oilstudy01.html
One quote from it (Take note that right now oil is a lot less then $70 a barrel):

However, oil prices, which spiked above $70 a barrel this week, combined with advances in technology could soon make it possible to tap the estimated 500 billion to 1.1 trillion recoverable barrels, the report found.

One day this will be a huge benefit to the US and the world, but not yet.

[kevin1]

Yup , it's a sales pitch .
BTW , Canada has lots of oil shale and tar sands too , extracting a useable product cheaply and refining it are the stumbling blocks . Hydrocarbon gas can be extracted from our bountiful coal reserves too , it's a byproduct of coke production , but not as cheaply as simply buying oil .

[Canuck_Buck]

Yes we have the Alberta Oil Sands...interesting reading this Oil Shale, thanks for the links Tazman.