Oil shale: the future?

A friend of mine passed along a news story about a new process for extracting oil from oil shale developed in Israel. The estimated cost per barrel to extract oil from shale is $17, much less than earlier methods, making shale extraction much more economically feasible.

Underneath Utah and Colorado, there may be over a trillion barrels of oil trapped in shale, just waiting to be extracted once the technology to do so becomes feasible, and if environmental concerns can be minimized. The Israeli company above may have done just that.

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