History of the oil shale industry in the United States Act of 1985 which among other things abolished the United States' Synthetic Liquid Fuels Program. Union finally bowed to continued low oil prices and closed the project in 1991, rather than complete the US$2 billion project. Over several decades, some of the world's largest oil companies (Amoco, Arco, Chevron, Exxon, Gulf, Phillips, Shell, Sohio, Sunoco, Texaco, Union Oil) had spent billions of dollars to start an oil shale industry in the Green River Formation, the world's largest oil shale resource. But in the end, cheap petroleum prices drove oil shale out of business. Even after the oil shale bust, some
Court of Appeal of Singapore the principles of "stare decisis" (judicial precedent) decisions of the Court of Appeal are binding on the High Court and State Courts. Even if judges in these courts disagree with the reasoning given by the Court of Appeal in particular cases, they are required to apply the legal principles laid down in those cases. The Court of Appeal became Singapore's final appellate court following the abolition of all appeals to the Privy Council with effect from 8 April 1994. On 11 July that year, the Court handed down a practice statement declaring that it would regard itself free to depart