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Shell Abandons 800 Billion Barrel Deposit, Beaten by the Regions Geology

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Shell Abandons 800 Billion Barrel Deposit, Beaten by the Regions Geology

By Kurt Cobb: Wed, 02 October 2013

EXTRACTS

The belief that technology can always overcome natural limits just took a big hit this week when Royal Dutch Shell PLC decided to shut down its pilot oil shale project in western Colorado after 31 years of experimentation. The ostensible reason is that the company has opportunities elsewhere. Shell says it wants to shift resources away from the intransigent rock and move it to profitable opportunities.

The prize for anyone who profitably unlocks these deposits is huge, an estimated 800 billion barrels of recoverable resources. So why isn’t oil shale yielding to the mighty combination of deep pockets, sophisticated technology and high prices?A clue comes from one sentence in coverage in The Denver Post…

FULL ARTICLE

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