Oil Shale in Utah

#1
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WA_Vol

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#1
Deseret Morning News | Oil shale — Colorado, Utah deposits rival OPEC reserve

Something positive about this countries energy resources. Too bad were spending trillions in Iraq instead of developing our own resources.

Colorado and Utah have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined.

Shell, based in the Hague, estimates it can extract oil from Colorado shale for $30 a barrel, less than half the recent price of about $66 for benchmark New York futures.
Shell's process includes surrounding each shale field with an underground wall of ice. The so-called freeze walls are to prevent groundwater from swamping the heating rods and to protect the local water supply from contamination as the organic material in the rocks turns to oil, according to Terry O'Connor, the Shell vice president in charge of the company's Colorado shale project. 500,000 barrels
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#2
#2
That is interesting news. When the CEO of
Shell was on campus, he said they were shooting for $40, but thought they could do $40-$60 per barrel. I'm suprised their down to $30.

A group in my department has been looking at this freeze wall technology for them some. It sounded like a crazy idea when he was pitching it to us...but it sounds like it works.
 
#3
#3
I find it hard to believe that we can take the oil out of this shale with no ill affect...of course, there really is no way of knowing what those effects might be. I think this algae stuff is pretty interesting, the pentagon is spending a fortune on it.
 
#4
#4
Once they start doing this, OPEC will lower prices to $25 per barrell until it drives the competition out of the marketplace.
 
#9
#9
I think I'd pitch my tent with the Mormons. Better hygiene and you get to keep your head if you make a cartoon about Brigham Young.
 
#11
#11
That is going to be a huge economic boom to that portion of the U.S. It's rural and sparsely populated now.
 
#12
#12
MG1968 said:
I think I'd pitch my tent with the Mormons. Better hygiene and you get to keep your head if you make a cartoon about Brigham Young.
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True, but I wouldn't put it past them to manipulate the price of oil by lowering supply, either. Most of the Mormon's I've encountered and know about are pretty shrewd businessmen.
 
#13
#13
What are they waiting for? Get 'er done!!!

Also, what about the tar sands in Canada?
 
#14
#14
Rasputin_Vol said:
True, but I wouldn't put it past them to manipulate the price of oil by lowering supply, either. Most of the Mormon's I've encountered and know about are pretty shrewd businessmen.
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uhhh....they get a majority of the men to believe in plates buried under the cathedral and most go on a two year mission to the hinterlands riding a bike. Shrewdness is surely made of sterner stuff.
 
#15
#15
Rasputin_Vol said:
True, but I wouldn't put it past them to manipulate the price of oil by lowering supply, either. Most of the Mormon's I've encountered and know about are pretty shrewd businessmen.
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Shrewd is having 4-5 wives that do all the work
 
#17
#17
KentheOrange said:
You don't know any do you?
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I'm a partner with several of them. The president of Mormons in the area I live in works for me as do a couple of the Bishops. I have little choice in that, but I have quite a bit of experience there.
 
#18
#18
Then the ones in your area must be different than in North Texas. I have worked with several in accounting and finance (my area also) and the ones I know have risen to the top of their field. I kdon't agree with their beliefs, but then they don't believe in mine either.
 
#20
#20
Watch for the NIMBY types who want cheaper gas but don't want someone digging up their serene areas.
 
#21
#21
CSpindizzy said:
Watch for the NIMBY types who want cheaper gas but don't want someone digging up their serene areas.
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It won't be Nimby's you have to worry about when it comes to oil. People (mostly) love having oil on their land and profiting from it. It's when you start building wind farms (Ted Kennedy and Martha's Vineyard protests), nuke plants, and oil refineries where people get upset.

No, the one group that could put a monkey wrench in this moving forward would be overzealous environmentalists that use the argument abour serene areas. They may find a wetland somewhere in Utah or some rare species of insect/bird that they feel needs to be protected and they will pretty much kill this idea.
 
#22
#22
Rasputin_Vol said:
It won't be Nimby's you have to worry about when it comes to oil. People (mostly) love having oil on their land and profiting from it. It's when you start building wind farms (Ted Kennedy and Martha's Vineyard protests), nuke plants, and oil refineries where people get upset.

No, the one group that could put a monkey wrench in this moving forward would be overzealous environmentalists that use the argument abour serene areas. They may find a wetland somewhere in Utah or some rare species of insect/bird that they feel needs to be protected and they will pretty much kill this idea.
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I guess that's why people in FL don't want exploration off their coasts and why many areas around proposed refineries in the past have stopped attempts to build those refineries. It's not all environmentalists stopping this sort of thing. You have communities all over not wanting heavy vehicles, derricks, smoke, etc. all in their areas.
 
#23
#23
Rasputin_Vol said:
True, but I wouldn't put it past them to manipulate the price of oil by lowering supply, either. Most of the Mormon's I've encountered and know about are pretty shrewd businessmen.
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They have to be. To support their 2934293847 kids
 
#24
#24
CSpindizzy said:
I guess that's why people in FL don't want exploration off their coasts and why many areas around proposed refineries in the past have stopped attempts to build those refineries. It's not all environmentalists stopping this sort of thing. You have communities all over not wanting heavy vehicles, derricks, smoke, etc. all in their areas.
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The people complaining about the oil exploration are not directly making any money off of the oil being drilled for. I bet you $1 million that if somebody told them that there was a significant amount of oil sitting under their beachfront homes, they would have a change of heart. I guarantee you that.

The things that you and I named that they are guaranteed to protest (wind farms, power plants, heavy vehicles, smoke, etc...) are things that involve activities that these "protesters" are not directly profitting from... and that is where the difference is. They are considered eye sores or quality of life nusances.

But if a group of Mormons with a wonderful view suddenly find out that there is oil under land they own and somebody is interested in getting to it, they will be more than willing to have the derricks there if they can get a cut on the action. Now if the oil is on government land, you will have a different story.
 
#25
#25
That's the thing. It doesn't matter if a landowner has oil in their yard and wants to explore. His neighbors will have more control on what goes on there with oil exploration than he does. Zoning restrictions, ordinances, environmental regs, and permit approvals all come into play. So again the NIMBY types will play their cards and you'll see that property rights are not as free as you think.
 
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