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<br />supporting industry and other improvements. An additional <br />population of about 300,000 will be needed. <br />The Chase Manhattan Bank (43) has estimated that <br />petroleum industry expenditures for exploration and <br />production in the United States for the period 1961-65 <br />will be $27,5 billion. The investment of $5 billion <br />during a 5-year period for shale oil production facilities <br />does not seem unreasonable. <br />The Parachute-Roan Creek area and the main stem of the <br />Colorado River between Rifle and Debeque will continue to <br />be the center of activities and most of the production <br />during Phase IV will be from shale outcrops along the <br />river and tributary streams; however, production of oil <br />from the deep shales in the Piceance Creek area to the <br />north and from the shales in northeastern Utah should <br />begin, Total production from these new areas may be <br />250,000 barrels per day. <br />The largest market for shale oil will continue to be <br />the Pacific Coast. Petroleum demand in the five states <br />comprising the West Coast area is growing more rapidly than <br />the country as a whole, and domestic production already is <br />in decline. By 1975 demand may reach 3 million barrels per <br />day (21). In 1958, California production, the only West <br />Coast state with significant oil reserves, was less than <br />1 million barrels per day (38), <br />The Pacific Coast oil deficit, now 375,000 barrels per <br />day (38) is supplied by overseas imports, and oil pipelined <br />from Canada and the Rocky Mountain area. By 1975 when 2 <br />million barrels per day of outside supply will be required <br />-22- <br /> <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 />