It seems that Shell has developed an economical means for extracting oil from the world's largest deposits, i.e. the oil shale fields in Colorodo.
Up to now, it has taken more energy to extract the oil from the rock than the process produced. But with oil at $70 a barrel and with Shell's new procedure, it looks like we're sitting on about a trillion barrels of economical fuel. That's four times the estimated reserve of Saudi Arabia.
Sweet.
Posted by ryan at September 4, 2005 07:28 AM | TrackBack