Israel turning to shale for fuel as oil prices remain high

Talk about being in a tight spot.
Israel imports most of its fuel. Continued high oil prices and surrounding hostile oil-producing countries have prompted the country to look into alternatives fuel sources.

One possibility is oil shale. The dark rock is abundant in the country and already used in power plants. Previously the costs of obtaining oil from the shale had been expensive compared to oil imports. But now, with current crude oil prices hovering at $70 a barrel and a new oil shale processing technology, Israel can produce fuel oil from shale that costs less than $20 a barrel.

Full details of the technology can be found in the article. A.F.S.K. Hom Tov, the company which owns the patent to the new process, has also developed a method to use the shale byproduct as even more fuel. The company is currently seeking mining rights from the government and is in talks with the friendly country of Jordan to access its oil shale supplies.

[Source: BusinessWeek via MSNBC]

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