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SALT LAKE CITY (KSL News Services) -- There's oil underneath the hills of eastern Utah and Colorado. Now, several companies have come forward asking for a chance to pull it out.
B-L-M Spokesperson Laura Williams says a lot of companies want to pursue the huge supply of shale oil found in Utah but the technology hasn’t been developed to make it cost productive project. “All these companies sent in proposals saying that yes they think they can come up with a way to get the oil out of the oil shale.”
Each company will submit a proposal on how they would advance the technology and one will be selected to get the job done. “We’re going to look at those proposals, the ones that are selected to be able to go out and do the research on the ground, pull the oil shale up out of the ground or do the project underground as however their research is going to do it,” she says.
Major oil companies such as Shell and Chevron are vying for the project in Colorado whereas smaller companies will make the attempt in Utah. The project will take years to complete.
(Copyright KSL NewsRadio 1160)