This from the article:

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“Another obstacle for this region is that more than 80% of all the land these resources are located on is federally owned. To date, the Bureau of Land Management has offered exploration contracts to four companies: Shell, Chevron (NYSE: CVX ) , IDT (NYSE: IDT ) , and Oil Shale Exploration.”

“Any way you try to do it, kerogen extraction is extremely energy intensive and therefore expensive. To extract 1 million barrels per day -- about 5% of U.S. daily consumption -- it would require 12 gigawatts of dedicated electricity generation, 46 billion gallons of water per year, and mining and remediation of 500 million tons of rock per year. Just to give those numbers a little perspective, that's enough power for 9 million homes, a 45-day water supply for all metropolitan New York City, and 50% of all coal produced in the U.S. last year.”

“Based on a report in 2005, today's oil prices would need to be in the $110-per-barrel range before it's considered economically feasible. This number could be much higher, though, because much of the data it's based on is from the 1980s and environmental regulations are much tighter than what they were back then. Also keep in mind that kerogen extraction technology is not yet complete. Shell has garnered some token levels of production, but the most recent EIA Energy Outlook Report doesn't see significant production from kerogen extraction until 2035.”

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http://www.fool.com/investing/general/2013/03/30/we-have-the-worlds-largest-oil-resourceand-we-may.aspx

Comments

ahope's picture
ahope 6 years 39 weeks ago
#1

first off, it doesn't matter who you are you; nobody in this entire world has the power right now to let go of fossil fuels. News flash the U.S. is completely and utterly dependent on petroleum for transportation; what are you gonna do stop driving your car to work? let's see it then; oh and let's see you tell everybody to stop driving their cars and see how that works as well.

We can't let go of fossil fuels because it's not possible right now; what we can do is find more efficient ways to use it. But I don't care who you are if you were elected president you wouldn't be able to tell the U.S. to let go of fossil fuels; you really think that everybody is just gonna be able to wake up one day turn off the switch and stop using fossil fuels which is how you heat and cool your home, how you get from place to place, it's in the clothes you wear, in the water bottle you drink, and plastic bags you get from the grocery store every day. that's right every plastic thing you see comes from petroleum so stop using that too. Listen none of us our happy about the position we put ourselves into becoming so dependent on fossil fuels, but it's no one persons fault it's a long history of stupidity to depend on something that is not infinite; but as of right now fossil fuels equal power in this world and if you don't got none well then you probably are a third world country, and I don't know about you but I'm ok with the U.S. continuing to extract petroleum and burn coal for the time being so that I can have air conditioning and cook over a stove instead of a damn fire; and not heating my bath water with pots of water I had to burn over the fire.

Yes, yes there are these random countries that have this miracously great hydropower and wind power but you have to have the right conditions for that and the U.S. doesn't have the greatest conditions for that; and then you will be ranting on and on about how the damns from all the hydroelectric plants are destroying the ecosystem and that's probably all Obama's fault too.

Let's think efficiency, how bout we start back up those coal gasification plants that turns coal into petroleum and doesn't release that much CO2; people could live with that, they still get petroleum yeah it's a little more expensive but it's cleaner and well hell the U.S. has the largest amount of coal reserves in the world. We got fossil fuels, fossil fuels equals energy, energy equals not living in the dark ages. Let's use them to give the scientific researchers more time to figure out more energy sources but be efficient about it. or you can blame Obama for all this mess, expect him to fix it because it's somehow his fault, and keep using the fossil fuels anyway

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