This publication was supported by The Rand Corporation as part of its program of public service.
Library of Congress Cataloging in Publication DataRubenson, David, 1954-"R-3040-RC." Bibliography: p. (Preparation of the report was supported by The Rand Corporation from its own funds.) The common purpose of the studies was to contribute to a framework for establishing policies that would promote efficient use of the nation's oil shale resource. .-Rand has developed an analytical methodology that explains the effects of federal leasing policies on the resource recovery, extraction costs, and development times associated with oil shale surface mines. The methodology was applied to the types of deposits found in Colorado's Piceance Basin, which contains the most concentrated oil shale deposits in the world. This report explores the effects of lease size, industry development patterns, waste disposal policy, and lease boundaries on the potential of the Piceance Basin oil shale resource.
Oil and gas leases--Colorado--Piceance CreekThe approach described here should aid in understanding the relationship between federal leasing policies and the requirements for developing Piceance Basin oil shale. The results are expected to be useful to researchers interested in policy and program issues concerning the development of the U.S. oil shale resource.
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SUMMARY THE POLICY PROBLEMThe United States, Western Europe, and Japan depend on foreign oil supplies. The price of foreign oil has fluctuated, but until recent months, the upward trend has motivated interest in alternative sources of liquid fuels. In addition to financial concerns, apprehension over the stability of the Persian Gulf oil region has raised the possibility of sudden reductions or interruptions in oil supplies. Alleviating the adverse effects of dependence on foreign oil will require contributions from many different areas. One of the most important potential sources is the oil shale located in Colorado's Piceance Basin. Oil shale is a solid organic material that can be converted to a liquid by heating. The 1200 square mile Piceance Basin contains enough oil shale to support a multi-million barrel-per-day (bpd) industry for centuries.The Piceance Basin consists of both federal and private holdings. Private holdings are in the southernmost portion of the basin, containing thin deposits of rich shale, averaging more than 30 gallons per ton. The use of underground mining to extract these rich seams appears to be feasible. The cost of developing shale oil from this region may be among the lowest in the basin. However, the bulk of the resource is on federal land in the central and northern portions of the basin. Here moderate grades of shale, averaging between 20-25 galIons per ton, occur in contiguous deposits up to 2000 ft thick. Surface mining is the only technique that can lead to extraction of a large . fraction of these thick deposits.Because most of the oil shale resource is federally owned, the rules A governing the use of federal lands are particula...
Phase II of the Economic Stabilization Program lasted from November 1971, when it replaced the initial freeze, until January 1973, when the less stringent controls of Phase III were initiated. It is widely thought that controls during Phase II succeeded in holding down wages and prices. The alleged success of Phase II controls and the rapid price rises during Phase III led to frequent demands for a return to the “good old days” of Phase II. The apparent success of Phase II controls contrasted with the failure of most past price control programs.
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