Thursday, 24 November 2011 15:34

Billions of Barrels, America's High Quality Crude

When the moment will come for the Washington Warthog (read the federal government) to revert to proper rules and regulations, then the shale oil industry in the US Midwest will start producing "enormous and environmentally responsible growth" between the years 2016 and 2020, with the capability of generating billions of barrels of "very premium, high-quality" crude oil, stated Todd Dana, Utah oil shale executive. 

"The development of oil shale reserves throughout Utah, Colorado, and Wyoming has, without question, the capacity to provide millions of jobs over the next two generations, strengthen national security, reduce U.S. dependence on foreign oil, and responsibly develop our abundant energy resources," continued Dana, the Chairman and CEO of Salt Lake City-based Uintah Resources, Inc. "America has the technology now to tap into what could become the U.S.'s own 'Green Diesel' -- the best and most environmentally benign crude oil reserve in the world, the kind of fuel for which the finest automakers design cars," Dana said.

"As long as the U.S. continues to harness business acumen, leading-edge technology, and the latest environmental practices, there's no reason that our oil shale development cannot mirror the success that Canada has enjoyed in recent years," Dana said. More than half the crude oil American imports from Canada -- the U.S.'s biggest energy supplier -- comes from oil sands.

Oil investors have greater confidence in oil shale, and this happens not just in the US. Aside from fracking, an extraction method using water, the EcoShale in Capsule Process(TM) is a method needing no water to produce shale oil at low costs and high volumes. This was patented five years ago by Dana and an associate.

Source: marketwatch.com

 

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