UPI reported The Israeli process for producing energy from oil shale will cut its oil imports by one-third, and will serve as a guide for other countries with oil shale deposits, according to one company..... Shahal estimated that the company's Negev Desert facility would begin full-scale production in three to four years, while other countries with oil shale deposits will need five to six years to reach production.
Another reason for the Arabs to hate Israel; they may have come up with something that will reduce demand for Arab oil.Oil shale is limestone rock that contains hydrocarbons, or fossil fuels -- about 20 percent of the amount of energy found in coal. Using the rock as a raw material and coating it with bitumen, a residue of the crude oil refining process, the company can produce natural gas, fuel, electricity, or a combination of the three. Older technologies squeezed the hydrocarbon material out of the rock, with extremely high pressure and at high temperatures. According to Professor Ze'ev Aizenshtat, an oil shale expert, the Hom Tov process is more environmentally friendly than other methods of converting oil shale into energy. It also allows for more flexibility in the kind of fuel produced, produces less waste and operates at lower temperatures than other methods.... Because fewer refining processes are necessary with oil shale than with crude oil, the final product is a higher quality fuel at a lower price, Aizenshtat said. The company estimates it will consume 6 million tons of oil shale and 2 million tons of refinery waste each year, for an annual production of 3 million tons of product.
It would cost about $17 to produce a barrel of synthetic oil at the Hom Tov facility, meaning giant profit margins in a world of $45 to $60 per barrel crude. Yearly earnings are forecasted to be between $159 million and $350 million, Shahal said.... The United States also has a giant reserve, mostly in Colorado, and Hom Tov sees potential for its patented process there.
Bernie blogged Israel has come up with something that will sap the economic strength from the Arab countries and others with huge oil reserves, while improving the economies of the rest of the world. Every dollar we pay for Arab oil goes into Islamic schools to teach Muslims how to destroy the West. Our own moneys are being used to destroy us. Now, a new process to squeeze oil out of shale may finally end that addiction.