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 Amazon Watch Amazon Watch is a nonprofit organization Founded in 1996, and based in Oakland, California, it works to protect the rainforest and advance the rights of indigenous peoples in the Amazon Basin. It partners with indigenous and environmental organizations in Ecuador, Peru, Colombia and Brazil in campaigns for human rights, corporate accountability and the preservation of the Amazon's ecological systems. In 1964, the Texaco Petroleum Company, in partnership with Gulf Oil, started exploring for oil in Northeast Ecuador. In 1974, the Government of the Republic of Ecuador, acting through the state-owned oil agency Petroecuador, obtained a 25% interest. Two