Is oil shale development economically feasible now? Why has it not been developed in the past?
This question is one of the main factors driving current oil shale RD&D efforts. The OSEC research program will provide crucial data to assess the economic viability of oil shale under current conditions. As a country,we need to look at all forms of unconventional fuels. Oil shale is a domestic resource that has great potential to meet a growing demand for oil. The world production of oil is declining, while world population is growing and developing nations are demanding modern transportation and fuels to supply their new lifestyles. The United States consumes about 7 billion barrels of oil per year, and increasingly more and more of this is being imported (approximately 56%). This growing dependency on imported oil prompted the government to look for alternatives; the 2005 Energy Act was an initial step designed to foster the development of domestic unconventional fuels. World supply and demand has resulted in price increases for conventional fuels. As oil prices went past $50/barrel
