Word: shale
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...also has by present estimates more than 1.8 trillion bbl. of oil locked in shale in the Rocky Mountain states-about 15 times the nation's estimated potential reserves from conventional sources. Burning the oil out of the shale-the most promising method-would require a market price of perhaps as much as $25 per bbl. to make it profitable. Yet even at the present average U.S. price of $11.50 per bbl. for newly discovered domestic oil, Ashland Oil and Occidental Petroleum last month were given federal approval to begin development of a joint shale-oil project in western...
...striking success in moving much of his energy program through the House under the guidance of Tip O'Neill. But in the Senate he faces opposition from Finance Chairman Russell Long, who claims there is no energy shortage. It is all there in the ground, Long argues-oil, shale, coal and gas-ready to be extracted if private industry is given incentives like price deregulation...
...April 18). Yet neither point makes much difference for policy. World oil reserves assuredly are finite, even if they might last a bit longer than the CIA thinks. Moreover, part of Nader's argument is that vast quantities of natural gas under the ocean (now unreachable) and oil shale in Western states (now far too costly to tap) might some day become accessible with improved technology. No responsible Government could bank on that...
OTHER ENERGY SOURCES. Both businesses and homeowners would be given tax credits for investing in solar-energy equipment. More funds would be provided for research on coal liquefaction and oil shale as well as solar energy. While maintaining its opposition to development of plutonium as a nuclear-reactor fuel-a gesture aimed at quieting opposition to nuclear power-the Administration would speed up the processing of applications for licenses for conventional, uranium-fueled nuclear generating plants from the present three-to-six years to six months. Says Eizenstat: "We are just trying to ensure that nuclear power plants that should...
...green and finally blue, the rigs thin out; the most remote are exploring for gas 110 miles off the coasts of Texas and Louisiana. Some offshore rigs are pushing their steel drilling bits down through 1,800 ft. of water and then through 23,000 ft. of mud, shale and rock...