The United States’ 2005 Energy Act was the first step to promote the
development of unconventional fuels.

Oil shale has recently received a great deal of interest from government leaders at the local, state and federal levels. In June of 2006, U.S. Senator Pete Domenici held a hearing on oil shale development. He personally visited the White River Mine site and met with OSEC principals to discuss their plans and to further discuss how the federal government can assist the industry.

OSEC plans to work with government and private industry to develop a domestic oil shale industry to help America become energy independent.

Senator Peter Domenici:

OSEC realizes that the energy problem won’t be resolved in the near future. However, oil shale has the potential to help solve United States’ dependency on foreign oil, and we must begin developing the industry. With significant resources, mining experience, vision and determination, OSEC is making its contribution to develop this much needed alternative energy source. By developing America’s vast supply of oil shale reserves, Oil Shale Exploration Company plans to be part of the energy solution.

Some have questioned whether oil shale can be a profitable industry in the United States. Many government officials and leaders point to Canada’s oil sands as a model of success.

With solid state and federal government support, advancements in extractive processes, and the current economic climate, OSEC believes now is the time to develop oil shale in America.

Senator Hatch:

“This is something that just has to be done and I’m really pleased that these companies are willing to invest the amount of money that it takes to develop these kinds of resources.”

Finding a Domestic Solution

Soaring prices, increased worldwide demand, declining production and America’s dependency on foreign oil have been catalysts in the search for long-term, dependable energy solutions. For decades there has been talk about finding and developing alternative energy sources to solve the problems created by the consumption of oil. Today, economic factors are making it feasible to pursue domestic solutions to the energy dilemma.

The dramatic increase in the worldwide demand for energy and the realization that current supplies cannot be sustained are prompting the U.S. government and American companies to look at new and innovative ways to develop energy sources in America.

Developing technologies to process coal to liquids, coal to gas, ethanol, biomass and oil shale are alternatives that are moving forward in an effort to meet new energy needs.