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Utah Oil Promising Alternative Oilfield Source
Years of rising energy demands have significantly depleted traditional and easily-acquired energy resources, even as large deposits of unconventional resources have remained undeveloped due to the high expense and complicated technology involved in extracting them. But with the price of crude oil and gasoline up and supply shrinking, nontraditional resources are being seriously considered as [...]
Utah, Colorado rival OPEC oil reserves, lure Chevron, Exxon, Shell
Colorado and Utah have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined.
That’s not science fiction, according to Bloomberg News. Trapped in limestone up to 200 feet (61 meters) thick in the two Rocky Mountain states is enough so-called shale oil to [...]
More power shifts to countries with oil reserves
There is more to today’s oil crunch than temporary jolts to supply and demand. What is also roiling the energy world is an enduring shift in the balance of power between the fuel-guzzling West and oil-rich developing countries.
Since World War II, the industrialized world has relied on stable and affordable supplies of crude to fuel [...]
