“The primary cost of synthetic oil at our plant is around $US16 per barrel while the world price of oil now exceeds $US 100.”
In this Powerpoint presentation, Professor Volkov details how the Russians are producing high quality liquid fuels from oil shale at $14-$17 per barrel. The Soviets first pulled this off in the 1970s. The plant currently produces 1.5 million barrels per year.
If you read the presentation you will find that our Rock River deposits are richer than the Russian shale, and contain less sulfur, meaning that it is cleaner.