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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />a <br />. ",:' <br />l:o.J <br />c::, <br /> <br />Shale oil refining research has been aidedqreatly by <br />new processes developed to refine high-sulfur crude oils. <br />Refining methods are commercially available to convert <br />crude shale oil to gasoline, jet fuel, diesel and' other <br />fuels equivalent to the highest quality products manu- <br />factured from petroleum. <br />Economics <br />Many statements have been made regarding the competi- <br />tive position of shale oil products when produced commercial- <br />ly. All are based on estimates of cost, usually derived <br />from pilot plant data. . Since shale oil is not produced <br />commercially in this country there is a certain degree of <br />uncertainty in appraising its economic attractiveness. <br />Careful engineering studies of the large scale appli- <br />cation of the new methods developed for oil shale utiliza- <br />tion indicate that shale oil may cost no more and perhaps <br />less than new domestic petroleum. It is estimated that <br />crude shale oil could be produced and sold profitably for <br />a "well-head" price of no more than' $2.50 per barrel. By <br />comparison the posted prices of Rocky Mountain area crude <br />oils range from $l.Bl - $3.10 per barrel, Quality and <br />location determines the price level for a specific crude oil. <br />The investment for shale oil production facilities of <br />significant output is sizeable. A 25,000 barrel per day <br />plant may cost from $30,000,000 to $50,000,000 depending <br />on location, retorting process selected, and the degree of <br />refining conducted at the production site. In addition, <br />pipelines must be provided to move the oil either to <br />existing trunk pipelines or to a market area. <br />-13- <br />