This is a VERY important point. It isn't demand pressure (China) that is pushing oilprices up, it is OPEC and aholes like Sorros dicking around with futures. The Soddies got the ball going, and seem to have lost control of it, Sorros is cheerleading it for political power. I just hope the bubble pops before sorros gets out, and when the Soddies have the spiggets wide open.
It costs 35 dollars now...but given increased volumes of production, the fine tuning and perfecting of the technology, and increased economies of scale the prices will drop substantially. Plus, look at the energy ratio...1 unit of energy in verses 3.5 units of energy out.
Think 1 barrel of oil energy in verses 3.5 barrels of oil energy out. If one barrel of oil=70 dollars and you get the equivalent of 245 dollars back subtracting 70 dollars for a net of 175 dollars...I think it looks very attractive!
Then there is the concept of energy indepedence...even if this is currently a more expensive option domestically...the amount of shale available alone can make our country completely independent and free of Muslim and other foreign manipulation, allow a stability of pricing and supply for the long term. Plus factoring in the costs of transhipping oil via tankers and maintaining security of same...this new process may not be as unprofitable to domestic oil companies as you might think. Plus it restores Shell as an actual OIL PRODUCER and not just a price gouginging middle man!