Alternative Fuels: Parachute Creek Shale Oil Project's Economic and Operational Outlook
RCED-87-126
Published: Jun 18, 1987. Publicly Released: Jun 18, 1987.
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Highlights
In response to a congressional request, GAO assessed the economic and technical viability of the Parachute Creek shale oil project.
Recommendations
Recommendations for Executive Action
| Agency Affected | Recommendation | Status |
|---|---|---|
| Department of the Treasury | In view of the economic and technical issues facing the combustor's installation, the Secretary of the Treasury should rescind the additional $500 million in assistance if the terms of the agreement are not met. If the terms are met and the contractor elects to proceed with the combustor, the Secretary should use the analysis in this report to critically evaluate the contractor's proposal and explore the government's options for minimizing additional outlays on this project. |
Closed – Implemented
Treasury deobligated $500 million due to project cancellation by the project sponsor.
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Topics
Domestic crude oilEconomic analysisFuel pricesGovernment guaranteed loansProjectionsShale oil resourcesSubsidiesSynthetic fuelsTax creditAlternative fuels