Eyes on Enefit: Oil shale CEO says investments in oil shale aren’t profitable

2013-02-21

This blog is part of a series about Enefit, and Eesti Energia, covering the company’s financial outlook, background and status of its Utah project. History has shown that for more for more than a century, oil shale is not a commercially viable energy source in the U.S. Oil shale is actually a rock that doesn’t… Read more »

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Eyes on Enefit: Untested technology, unproven results

2013-02-20

This blog is part of a series about Enefit, and Eesti Energia, covering the company’s financial outlook, background and status of its Utah project. Despite posturing by Enefit’s corporate officers, internal documents and tests show that the company’s attempts to extract and process oil shale in Utah have run into trouble. Enefit Chairman Harri Mikk… Read more »

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Eyes on Enefit: Moody’s downgrades oil shale “leader” debt rating to negative

2013-02-19

This blog is the first in a series about Enefit, and Eesti Energia, covering the company’s financial outlook, background and status of its Utah project. Last month, the benchmark credit agency Moody’s downgraded the bond rating of the world’s largest oil shale company Eesti Energia, to negative. The downgrade is the second in just over… Read more »

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House Energy and Power Subcommittee promotes failed oil shale speculation, despite century of failure and new reports that world’s leading firm could lose big on Utah oil shale project

2013-02-5

“It’s disappointing to see Rep. Whitfield and House Republicans recycling the same old failed energy ideas. Despite being awarded billions in taxpayer funds, all these oil shale speculators have to show is failure. We need real energy solutions, not more speculation and failed investments,” said Ellynne Bannon, western lands program manager for the Checks and… Read more »

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Industry-funded oil shale expert conceded higher water use estimates for commercial oil shale production are credible

2013-01-28

Over the past year, Dr. Jeremy Boak, Director of the industry-funded Center for Oil Shale Technology and Research at the Colorado School of Mines, has stated that commercial oil shale extraction would use one to three barrels of water per barrel of oil shale produced. However, the independent, non-partisan Government Accountability Office (GAO) estimated that… Read more »

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Natural Resources Committee can’t continue 112th’s land use approach in the 113th

2013-01-4

“Those who cannot remember the past, are condemned to repeat it.” — George Santayana, Life of Reason, Reason in Common Sense Over the course of the 112th Congress, we stood witness to an approach to public land use that has swung spectacularly out of balance. Nowhere is this more evident than in the actions of… Read more »

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ICYMI: Denver City Council supports BLM’s smart approach to protect water from oil shale speculation

2012-12-21

On Monday, the Denver City Council issued a proclamation supporting the “research first” approach to protect western water, taken by the Bureau of Land Management’s (BLM) in its recently issued Programmatic Environmental Impact Statement (PEIS). By taking this action, Denver joined the list of communities throughout Colorado’s Front Range and West Slope that have publicly… Read more »

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Oil shale: Energy’s pink unicorn

2012-12-7

Grover Norquist, founder of the right wing, anti-tax group Americans for Tax Reform, recently spoke out about the folly of spending tax dollars on pink unicorns, since they don’t exist. Following his logic, government shouldn’t create handouts for oil shale, since it doesn’t exist as an energy source. We want to see if Mr. Norquist… Read more »

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