Shell shock: 
Rio Blanco oil shale project axed

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It’s the same old cycle, When the government vs. business climate becomes too unfavorable in the U.S , big energy companies focus more on overseas projects. Just wait until gasoline hits $8-10 a gallon. Then it will start up again. They have to have a large enough profit margin to fight all the lawsuits from the environmentalists.

Meanwhile, we will probably see Shell start a new shale development project in Jordan or Canada where the regulation is not as oppressive.

Sounds like a rational, market-based decision to me.  Seems like something the conservative free-marketeers would embrace.

It’s silly to blame the government. It simply costs too much to get the kerogen out and refine it, requires too much water in this arid west, and Shell made a business decision. That is capitalism.



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