A flag hangs in front of a gas sign in Los Angeles. (AP)
Squeezing Oil out of Sand Story aired: Friday, April 21, 2006
Oil prices set another record today when the cost per barrel topped $73 dollars. Some analysts say they haven't peaked yet and could hit $4.00 a gallon just in time for the busy summer driving season.
Unconventional oil sources, methods once rejected as too costly, are becoming more attractive since technology is improving and oil prices keep skyrocketing.
Several companies are exploring what are known as oil sands in northern Canada and looking into two trillion barrels of oil shale deep under the bedrock of some of the southwestern United States.
Environmentalists are concerned that extracting from these oil sources are too expensive and take too much energy to convert the sources into usable oil.
Guests:
Steven Paget, oil industry research analyst with FirstEnergy Capital Research
Dan Lashoff, Senior Scientist at the Natural Resources Defense Council in Washington, D.C.
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