History
OSEC was formed as a limited liability company by following companies:
- L&R Energy, Inc.
- Twin Pines Coal Company
- Shale Investments, LLC
In 2008, OSEC concluded a contract with Brazilian oil company Petrobras and Japanese investment and trading company Mitsui according to which Petrobras and Misui had a right to acquire 10%-20% interests each in an oil shale joint venture with OSEC.
In March 2011, Estonian energy company Eesti Energia acquired 100% of OSEC's shares. This transaction was criticized by some Estonian oil shale scientists who expressed doubts if the Eesti Energia's Enefit extraction technology is suitable Utah oil shale due to the high percentage of nitrous compounds in it.
Read more about this topic: Enefit American Oil
Famous quotes containing the word history:
“If man is reduced to being nothing but a character in history, he has no other choice but to subside into the sound and fury of a completely irrational history or to endow history with the form of human reason.”
—Albert Camus (1913–1960)
“English history is all about men liking their fathers, and American history is all about men hating their fathers and trying to burn down everything they ever did.”
—Malcolm Bradbury (b. 1932)
“Modern Western thought will pass into history and be incorporated in it, will have its influence and its place, just as our body will pass into the composition of grass, of sheep, of cutlets, and of men. We do not like that kind of immortality, but what is to be done about it?”
—Alexander Herzen (1812–1870)