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
Indigenous peoples in Ecuador and Tribal Peoples Convention, 1989. It was adopted in 1989 as the International Labour Organization Convention 169. The year 1978 marked the beginning of petroleum production in Ecuador. Texaco is documented to be the primary international oil company that was given permission to export oil from the coast of Ecuador. This company managed the oil operation from 1971 to 1992. The Ecuadorian government along with Texaco began to scout the Oriente in a joint business known as a consortium. Major shipments of oil were put into action in 1972 after the Trans-Ecuadorian Pipeline was finished. In the years of production