Big Oil Helping Develop Next Energy Market

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Photo courtesy of usa.streetsblog.org

I saw this post on Twitter yesterday…

Checked out the article and was completely fascinated

with the potential of how fast our energy sources could change within the next 15-20 years. This idea caught Shell Oil’s attention and they gave $1 Million to Mark Russell for further research.

Here is the whole article from NextBigFuture.com, but will post some highlights:

Russell is drilling deeper than ever before in pursuit of fossil fuels. That’s because his company, HyperSciences, is funded through Shell’s GameChanger program. HyperSciences’ product is a high-velocity projectile that Russell hopes will one day help access geothermal energy, a clean, renewable energy source that eventually could replace the oil and gas he’s currently seeking.

Hypersciences is focused on developing the drilling technology, which could be licensed to key suppliers or used directly by HyperSciences to produce geothermal energy. Russell said you must dig 5 kilometers (roughly 3 miles) into the earth to do so. At that depth, rocks are hot enough without being radioactive. To transfer the energy, you use water to bring steam to the earth’s surface. From there, a turbine captures the steam and turns it into energy.

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One Comment

  1. This was a brilliant article regarding oil and the energy markets; I really enjoyed it. I especially loved the concise way in which you conveyed all the information that was needed. Allow me a brief introduction: I’m a 15 year old with an interest in finance and economics, who shares his views at shreysfinanceblog.com If you could read and reblog one of my articles, it would be very much appreciated! Thanks again for this lovely article.

    Like

    Reply

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