POINT OF VIEW: Unexploited oil resources continue to attract technology innovations

Over the years the oil industry has developed many technologies for improving oil recovery, yet much unexploited oil still remains in the ground. For instance, a US Department of Energy estimate made in the early 2000s says that the US has 407 billion bbl of remaining discovered resource that lie dormant (Fig. 1).The US government has stopped most funding for research or demonstration projects for developing new ways for recovering these resources. Click here to enlarge imageThe government funding that remains is mainly through the Energy Policy Act of 2005. The act set up the public-private Research Partnership to Secure Energy for America (RPSEA) that has $50 million of funding provide...

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