Early Retirement & Financial Independence Community - View Single Post

packrat44 · 06-08-2008, 05:22 PM

In 1975 - 1976 I worked as a mining engineer on a joint project between Standard and Gulf Oil on extracting kerogen from oil shale in Wyoming. The project was halted when OPEC opened the oil supply and prices dropped.

This is definitely a viable way for the US to reduce their dependency on foreign oil over the long term. It is capital intensive and there is a long time until producing. As in the mid '70s, there is the fear that after large expenditures that the OPEC nations could simply crank up production and lower the cost of crude thereby putting the hurt to the oil shale project. There is also the politics. Can you imagine Al Gore or any politician from an oil producing state voting for such a project?

06-08-2008, 05:22 PM	#8
packrat44 Full time employment: Posting here. Join Date: Jun 2007 Posts: 542	In 1975 - 1976 I worked as a mining engineer on a joint project between Standard and Gulf Oil on extracting kerogen from oil shale in Wyoming. The project was halted when OPEC opened the oil supply and prices dropped. This is definitely a viable way for the US to reduce their dependency on foreign oil over the long term. It is capital intensive and there is a long time until producing. As in the mid '70s, there is the fear that after large expenditures that the OPEC nations could simply crank up production and lower the cost of crude thereby putting the hurt to the oil shale project. There is also the politics. Can you imagine Al Gore or any politician from an oil producing state voting for such a project? __________________ Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.