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OIL SHALE—3: Analytic approach estimates oil shale development economics

02/02/2009
An analytical approach estimates that the minimum economic price for developing the vast US oil shale resources to be $38-62/bbl of shale oil produced. If prices go back to $60/bbl, the model indicates good economic feasibility for an oil shale industry.Rapidly advancing conversion technologies, high oil prices, rising world demand for liquid hydrocarbons, and continued decline of US conventional oil production have all recently attracted significant attention to development of the oil shale resource. Additionally, development of this resource could benefit local, state, and national economies by means of revenues, royalties, contributions to the gross domestic product, value of avoided o...
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