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Shale Oil Development #244370

CBS Evening News for Tuesday, Feb 17, 1976
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(Studio) Estimated 2 trillion barrels of shale oil in Rocky Mts.
REPORTER: Walter Cronkite

(Rifle, Colorado) As much oil in rock formations of Colorado, Wyoming and Utah as there is in Mid- east underground. August `75 film shows President Ford in area. Oil companies invested $1/2 billion in shale development. Inflation and construction costs are reasons the oil companies have stopped work. 2 years ago, millions bid for right to extract shale. Environmental factors involved. Lots of water needed for shale development. Adequate amts. of water and disposal of refuse are problems. [Shell Oil Robert MEEKER - says there is general hostility to oil companies No one can invest under these conditions.] One company experiments with underground shale development.
REPORTER: Terry Drinkwater

Cronkite, Walter;
Drinkwater, Terry

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