I found this on the Econbrowser, apparently oil was on $66. a barrel then…. something for the politicos to ponder.
“September 27, 2005
Oil shale report
A number of observers have been pointing to oil shale as the solution to all our energy problems. If oil shale does turn out to be the resource of the future, then our problems are only beginning.
Instapundit sees a ‘plan to put Middle East oil producers out of business’ in this story from the Rocky Mountain News:
[W]ith crude oil above $66 a barrel at the close of trading [on Sept. 20], oil shale is a promising alternative to crude. The Green River shale deposits in Colorado, Utah and Wyoming are estimated to contain 1.5 trillion to 1.8 trillion barrels of oil, and while not all of it can be recovered, half that amount is nearly triple the proven oil reserves of Saudi Arabia.”
