Not very accurate at all.Excellent question. How accurate is the $45 per barrel price of synthetic oil?
Ever heard of hemp oil.One of the best.Green and easy to cultavat.
Oil shale is basically a type of sedimentary rock (not actually shale) that contains hydrocarbons and can be converted into a usable petroleum product. The process for doing this is rather expensive but would probably be viable in current market conditions. It's hard to say what the real price for doing this on an industrial scale would be, because we're not doing a lot of it. Maybe it would get cheaper if we did more of it.toreskha, you sound very knowledgeable on this subject. What I'd like to know, is it true that it would be almost as expensive to start drilling for our shale oil as what oil is that we get from overseas? Everyone says start drilling in this country but our oil comes from shale not sand and it's harder to drill, so I've heard it would be just as expensive.
Does china have no oil under it?
It can and is being refined into gasoline right now. Maybe it will become more affordable as refining techniques advance.can this synthetic be refined into gasoline? at an affordable cost?
As their supply increases, the demand will quickly increase to compensate, because they have so much pent-up demand. It's almost certain that they have far more people than oil.Actually about two weeks ago when the oil prices took a slight drip China had just announced that they were going to increase the cost of fuel and drill for oil, can you imagine what would happen to the oil futures market if they were to hit a big oil deposit and become independent of outside sources?