05 October 2007 01:03 [Source: ICIS news]
The Task Force on Strategic Unconventional Fuels, a joint study group of federal and state agencies created by the 2005 Energy Policy Act, warned that “the domestic and global fuels supply situation and outlook is urgent”.
Citing Department of Energy (DOE) data, the task force report noted that between 1985 and 2004
Department forecasts put
As those imports increasingly come from nations unfriendly to the
That risk, said the task force, “warrants development of an aggressive integrated unconventional fuels development programme” involving both the public and private sectors.
The US, said the report, “is endowed with a wealth of resources that can be converted to fuels for transportation, home heating and other uses”, including “coal, oil shale, tar sands, heavy oil and oil producible by carbon dioxide enhanced recovery”.
However, advancing development of these energy assets is impeded by government restrictions on access to resources on public lands, uncertain regulation, permitting processes and timelines that frustrate planning and increase costs, the study said.
The report said that federal and state governments “must share in the early development risk to achieve the significantly greater public benefits of an accelerated development case”.
Among other things, it called for open access to unconventional fuels resources on public lands, government incentives that reduce investment risk and accelerate returns on investment, and government efforts at all levels to “provide a predictable schedule for permitting approvals”.
The full 450-page report is available on the task force’s Web site.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|