This new technology is big because the U.S. has three times Saudi petroleum reserves in oil shale. If we can economically tap this resource we become energy independent for the foreseeable future.
My original post from EnerMax:
Oil companies have a new tool for extracting oil-shale reserves that significantly lowers production costs. An advanced heater cable limits the need for expensive mining techniques, which excavate and heat formations to extract the oil.
The new technology is based around a ceramic-composite material that withstands both high temperatures and constant exposure to moisture. The material is used in extracting crude oil from shale by drilling deep boreholes, feeding cables of the material into the holes and heating the oil shale deep below the surface. This forces the oil into an extraction well where it is easily pumped to the surface.
A Colorado company, Composite Technology Development Inc. (CTD), has proven the material works for oil shale extraction. The Department of Energy supports the new technology and verified the positive test results of CTD’s cable.
Victor K. Der, the acting assistant U.S. energy secretary for fossil energy, says, “With DOE’s support over two phases of this project, CTD has demonstrated a way to tap into the western oil shale resources. With two-thirds of the world’s supply of oil shale in the United States, technologies such as this can go a long way toward bolstering the development of our domestic energy resources, creating jobs and supporting energy security.”
This technology is important to domestic energy production because oil shale deposits exceed Saudi Arabia’s oil reserves three times over and are comparable to Alberta’s oil sands. According to a 2008 report by the Utah Mining Association, the ability to efficiently extract crude from oil shale gives the U.S. the “potential to be completely energy self-sufficient, with no demands on external energy sources.”
Sources used in this post include Oil & Gas Journal, Technology Review and News Blaze.
Are all of you insane? The key to energy independence is not unleashing the dirtiest fuel on the planet. It is investing in clean energy, wind, solar and biofuels. There is no such thing as an economically feasible way to destroy the planet. Don’t let these self proclaimed, self serving “scientists” fool you. Oil Shale is just another name for destruction.
Comment by Sherry — May 19, 2009 @ 11:16 am