The Government Plays a Prominent Role in Leasing and Developing Oil Shale

Because the federal government owns and controls nearly 80% of the most valuable oil shale reserves in the West, it is inevitable that federal leasing and siting will play a prominent role in development of an oil shale industry during the 1980s. Also, because of recent enactment of the Synthetic Fuels Corp. authorizing up to $88 billion in loan and price guarantees-federal financing will provide the critical incentive to permit private investment in a still infant industry.