3118.     ---------------.  [SCHROEDER, W. C.]  Synthetic Fuel Production.  Petrol. Eng., Refining Gas Processing Sec., vol. 21, October 1949, p. A-53.

        Paper presented at United Nations Resources conference.  Estimates are shown on the cost of producing petroleum substitutes from coal, either by hydrogenation or by synthesis, and from oil shale by retorting:  From oil shale, $0.055 per gal.; from natural gas, $0.072 per gal.; from gas derived from coal, $0.121 per gal.; from coal hydrogenation, $0.126 per gal.  These figures are based on a hypothetical industry with a productive capacity of 2,000,000 bbl. per day.  Such an industry would require a capital investment of about 12 billion dollars.  Capital investment per bbl. per day is estimated at $3,100 for shale oil, $5,300 for synthetic oil from natural gas, $8,600 for synthetic oil from coal by gas synthesis, and $9,000 for oil from coal by hydrogenation.  A comparative estimate of the capital investment necessary to find, develop, produce, transport, and refine crude petroleum is $5,000-$6,000 per bbl. per day.