Chevron gives up their experimental lease on the ‘Next Big Thing’ in energy — oil shale

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Oil shale has been the “Next Big Thing” in energy in Colorado for over a hundred years now. Chevron is the latest victim of the non-economic energy source. Here’s a report from the Associated Press via The Denver Post. From the article:

Chevron Corp. is giving up its experimental oil shale lease in northwest Colorado, saying it wants to free up its resources for other priorities. The company is working with the Bureau of Land Management to figure out what to do with the lease, including possibly transferring it to another company, The Grand Junction Sentinel reported Tuesday…

Chevron had been studying using carbon dioxide to draw out kerogen, a petroleum-like substance, from rock. The company said in a statement that the research was “productive.”

More oil shale coverage here.

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