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Clean Oil That Only Costs $20

Clean Oil That Only Costs $20

If there’s one big reason for the U.S. energy revolution, it’s that new technology has allowed American companies to beat the competition

Thanks to such innovation, a barrel of oil produced in the U.S. can cost as little as $20 to produce.

Advances in oil sands technology, and efforts to make the process cleaner and cheaper, means that the sector could be poised for a turnaround.

 

Petroteq Energy is pioneering safe and clean methods for unlocking oil sands assets. The company has two patents on technical methods for extracting oil sands in a way that avoids producing waste materials.

The company produced 10,000 barrels from its production facility in Utah in 2015 using its brand-new technology, and now it’s upgrading a second facility in Utah to increase its production capacity.

The company’s goal, according to CEO Alex Blyumkin, is developing “sustainability.” Proprietary methods allows Petroteq to extract oil sands without producing excess waste. By utilizing blockchain technology, the company cuts down on production costs and allows oil sands production to be more streamlined.

Continued: https://oilprice.com/Energy/Oil-Prices/Clean-Oil-That-Only-Costs-20.html

 

Black Blade: Scam? New Tech? Who knows. Time will tell. I have looked at the bitumen sands project in Utah. Not sure if this isn't some "pie in the sky" sales pitch but will watch.