Colorado University to open new oil shale research center
The Colorado School of Mines is creating a new oil shale research center on campus that will include a global database of information accessible over the Internet, according to the Associated Press. The announcement was made during the school''s 28th Oil Shale Symposium. The center will be funded at $900,000 per year by oil companies-Total Exploration and Production, Shell Exploration and Production, and ExxonMobil Upstream Research Co. The oil shale deposits underneath Colorado, Wyoming and Utah are believed to contain about 1 trillion to 1.8 trillion barrels, or three times the proven reserves of Saudi Arabia. Of that, roughly 800 billion barrels are considered recoverable. The companies are experimenting with technologies to squeeze the oil from the rock.