Tuesday, March 10, 2009

Interior Department Shoots Down U.S. Shale

Extracting oil from shale rock is in need of further research: to better extract oil from shale, to greatly reduce the water (how much water is in Colorado?) necessary to process oil from shale, and to greatly reduce environmental damage. Still, it's worth mentioning this recent decision by the Interior Department:

Institute for Energy Research (IER) president Thomas J. Pyle issued the following statement today after the Interior Department announced its plans to withdraw from consideration acreage in Colorado, Utah and Wyoming where research and development of a small portion of our nation’s homegrown oil shale reserves had previously been scheduled to take place:

“Earlier this week, Secretary Salazar suggested America’s massive and homegrown reserves of oil shale held ‘great potential.’ Unfortunately, the Interior Department’s decision today may help ensure that potential never becomes reality – in the process, locking-away an American energy resource larger than the total reserves of the entire Middle East.

“At a time of great economic uncertainty, with millions of Americans but of work and state budgets stretched beyond their breaking point, responsible development of America’s abundant shale resources could be a way out of our current condition, and a way back to a better one. The Interior Department’s announcement today effectively forecloses that opportunity.”

- Brewskie

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