Political Risk / United States
Bush Proposes Low Royalties For Developing Oil Shale
July 2008 | Industry NewsThe Bush administration has proposed new rules for commercial oil shale development that it says could yield up to 800bn barrels (bbl) of oil. The executive arm plans to offer lower royalties for energy companies that want to produce oil from shale deposits in the western US. Although it is technically possible to extract oil from oil shale, development has so far been economically unfeasible and has encountered strong environmental opposition.
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