Shell shelves oil-shale application to refine its research

[jpak]

http://test.denverpost.com/extremes/ci_6155257

The front-runner energy company in the effort to unlock oil shale in northwest Colorado has slowed down its research by withdrawing an application for a state mining permit.

Shell spokeswoman Jill Davis said the withdrawal of a permit on one of its three oil-shale research and demonstration leases was done for economic reasons: Costs for building an underground wall of frozen water to contain melted shale have "significantly escalated."

"We are being more cautious and more prudent," Davis said. "Because of the nature of research you have challenges. With that in mind, it is taking a little longer to build a freeze wall than we planned."

Davis stressed that the withdrawal of the mining permit does not lessen Shell's commitment to continuing research at its Mahogany Research Project between Rangely and Meeker and eventually building demonstration projects on its federal leases.

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[hatrack]

1. Well, that didn't take long . . .

Looks like they didn't have that extra $300 billion sitting in the bank after all.

[eppur_se_muova]

2. Shell shelves shale sales?

Well, I never claimed to be a poet. :)