Oil shale/ Coal bed methane plays Message Board

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Gold/Mining/Energy : Oil shale/ Coal bed methane plays

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To: Bearcatbob who wrote (3)	3/2/1997 10:13:00 AM
From: Tim Hall	of 14

Bearcatbob: I spent one year with occidental and 10 years with UNOCAL. We did have government subsidies but it was still not enough. The big problem was with the oil companies. When oil shale started they were just comming out of a period of huge profits. They were encouraged to waste money. Oil companies don't have the understanding or expertise to be involved in mining operations. They are used to drilling for oil. When profits drop, you just stop drilling and get your balance sheet back in line. Also, the management of the oil companies was of a generation that did not understand saving money, all they knew was how to spend. I could write a book on how not to develop oil shale. I don't know anything about SASol. Tim Hall

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