Word: shale
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...long term, it is vital to move forward rapidly to develop every alternative energy source, from coal and shale to wind, waves and the sun. Meanwhile, conservation of existing supplies is indispensable, and politicians would do well to face the issue. Concludes Milton Lipton, president of the leading petroleum advisory firm of Walter J. Levy Consultants: "Despite the inevitable inequities of either steep taxes or rationing, there comes a time when you have to say, 'Damn the torpedoes and full speed ahead.' I cannot think of a better time to ask the American people to accept either...
Bradshaw said ARCO is actively investing in alternative energy sources--mainly in shale and solar power--and denied that ARCO is active in South Africa...
...other hand, Congress has decided to go more slowly than the President wanted in developing synthetic gas or oil from coal, shale and tar sands. In July Carter suggested spending $88 billion over the next decade to build some 40 synthetic fuel plants. But three Senate consultants concluded that such a program would be too much, too fast, and waste billions of dollars. As a result, the Senate this month passed a more modest $20 billion bill that will offer loans and price guarantees over the next five years to private companies to open perhaps a dozen commercial synthetic fuel...
They claim that their water requirements would be reasonable. Company officials also say that the underground cooking process seals the chambers, actually fuses the rock, and prevents salts from leaching into ground water. Firms plan to contour the piles of leftover shale rubble and to plant them with local wild flowers and grasses; tests have shown good results...
Although the first shale patent was granted in England in 1694 and called for distilling "oyle from a kind of stone," oil from the dark, veined rock so far has not been developed primarily because conventional petroleum has always been cheaper. Now, at last, economic necessity and innovative technology may lead to tapping the vast potential of shale...