So what is going to be the energy solution for the future? Is it going to be offshore drilling? How about oil shale? Shell Petroleum company runs a test plant for in-situ recovery for oil shale in western Colorado; there has been some success but the costs are extreme. What will it take for oil shale to fall into production and politics help push the idea forward? Check out this video by Fox News below...
The idea of 100 million bbl of oil from one acre is pretty good (At what thickness and quality of shale though?). But, they really don't talk about the environment impacts, and the amount of water needed for the recovery process. What is going to be worth more - a bbl of water or a bbl of oil?
I find it amusing how the news caster tries to show an example of oil shale burning with a torch and does not even where a glove. Shale oil can definitely help our dependence on foreign oil; but, it is going to take all variances of production to support our growing demand for oil.
Does anyone know if the moratorium is still active on production of shale oil? I know that drilling for shale gas has slowed down a lot in western Colorado due to low prices and also more companies are directing their focus to the DJ Basin.
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I think that the only way this will become a feasible option is if the price foreign oil continues to increase. Once it gets high enough, then we will be looking for alternatives and the cost of getting the shale oil will not seem so bad. On the other hand, this will also bring into play other forms of energy that are considered more expensive.
ReplyDeleteA good post, with good video and commentary. I'm with Aaron--oil shale is just not cost competitive yet, and, as you note, there are significant environmental problems with it (which these newscasters seem to scoff at as "liberal" nitpicking). In particular, oil shale extraction tends to be incredibly water-intensive, I believe, so that could pose problems for development in the American west in the decades to come (and explains why companies like Shell are grabbing up water rights as much as mineral rights).
ReplyDeleteI agree with both of you...I think technology is going to have to play a major role in making oil shale cost effective. As the price goes up, more alternative energy sources hopefully are being used and developed as well, but there is a lot of things made from oil that we don't think about.
ReplyDeleteExtraction of oil shale does take a lot of water; the estimate is about 3 bbl of water to 1 bbl of oil. This is huge, and it will affect the water supply for farming and agriculture in the areas of oil shale.
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