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
Amazon Watch rights guarantees, Amazon Watch is also promoting visionary alternatives that could protect the Amazonian environment and local communities. The Yasuni ITT initiative is one such initiative for which we have actively campaigned. The proposal seeks to keep some 900 million barrels of heavy crude that lies underneath Yasuni National Park permanently in the ground in exchange for half of the forgone oil revenues. If done right, the proposal is an important first step towards keeping oil reserves in fragile and culturally sensitive ecosystems in Ecuador and beyond." Amazon Watch is a plaintiff in a case against the US oil company