Word: shale
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...bombs may close faster than the AEC'S experts had predicted, limiting the amount of gas that could escape. In addition, the GAO touched on a subject worrying many oil companies. The natural gas deposits lie under much of the nation's reserves of shale, from which the companies hope some day to extract large quantities of oil. But the shale could become radioactive or otherwise damaged by the blasting, making it dangerous to mine...
...alternate sources of energy, such as the U.S. Project Independence. (One proposal being circulated in Washington, and presumably noticed by the Saudis, envisages spending as much as $98 billion over the next 14 years to subsidize a synthetic-fuel industry that would tap the nation's stores of shale oil and coal.) But some OPEC members-among them Libya and Iran-favor yet another oil price boost. After hot debate at last week's OPEC meeting, the oil exporters could only paper over the division by agreeing to freeze present prices for three months as a compromise...
...charged experts to study what prices we should put on oil. Do you know that from oil you have today 70,000 derivatives? When we empty our wells, then you will be denied what I call this noble product. It will take you $8 to extract your shale or tarsands. So I said let us start with the bottom price of $7; that is the government intake. Suddenly everybody started to shout foul. Why don't you use coal and shale for electricity or to heat houses, and keep this precious petrol for the petrochemicals for another 300 years...
...Exxon's foreign oil concessions are taken over in the future, the company will still profit by shipping, refining and marketing the oil. To prepare for the day when conventional wells can no longer meet the world's needs, Exxon is already experimentally squeezing oil out of Rocky Mountain shale and the tar sands of northern Alberta...
...Interior Department ruled that the "national interest"-meaning energy-overrode ecological interests and therefore opened federal oil-shale lands to development. Unless the energy companies can find other ways to ex tract oil from the rock, they may eventually change the face of Colorado and parts of Utah by dumping millions of tons of waste shale into ravines...