New Oil Sands Production Technology May Reduce Costs per Barrel
A recent report from Advanced Clean Technologies may actually alter the overall economics of tar sands oil production, in particular throughout Canada and Utah.
"For many years the principals of Winning Strategies have invested in Canadian oil sand trusts such as Suncor, Harvest Energy Trust, which was recently sold to Korea National Oil Corporation, Pengrowth Energy Trust and San Juan Basin Royalty Trust, among others. It is our experience that one of the largest obstacles to industry economics is the high cost of tar sands production and the low percentage rates of extraction. IF ACTH can actually produce 99% oil extraction rates as reported last week, while lowering the energy consumption needed for production and minimizing environmental damage, this is a game changer for the industry."
Russell Kidder, President of Advanced Clean Technologies, Inc., stated last week, "Our tests, which utilized our patented, non-hazardous chemical reagents in an ambient temperature environment, were remarkable in that they showed our ability to successfully extract and separate over 99% of the oil residue present in both the Alberta and Utah oil sands samples. We believe that our unique technology provides an extraction rate that is significantly higher than the traditional methods, while at the same time being much more energy efficient and environmentally friendly."
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