Vernal Express | 1978-04-06 | Page 17 | Colony Oil Shale Project Stalled by Uncertainties

Colony oil shale project stalled by uncertainties Despite favorable economics the developers of the Colony oil shale project at Parachute Creek Colo Coto are holding up because of conflicting and changeable federal and state environmental environmental en en- laws and lack of assurance that product can be sold at world prices the Tosco Corp said in its annual report The Colony project is a joint venture of Tosco and Atlantic Richfield Co and would use the jointly developed Tosco Tasco II process to recover crude oil from oil shale TOSCO SAm SAil the venture was the most advanced oil shale project in the nation Total projected Investment for the lon day mine and barrels dally daily crude oil plant would be just over 1 billion On site refining could produce up to barrels a day of petroleum products Tosco pegged production costs Including including In in- eluding direct operating costs and recovery of investment at a barrel of oil produced Products per barrel would value at 15 it said 1