Oil prices have now reached their highest levels since 2014. Driven to over $100 dollars per barrel, investors fear significant supply chain issues as Russia becomes increasingly isolated. With the country providing 10% of the world’s oil, a large decrease in oil supply would be a significant hit to the global economy.
In light of the combined stress on markets from both sky-high oil prices and a significant scarcity of asphalt, Vivakor’s mission and technology become even more important.
Vivakor’s Remediation Processing Centers (RCPs) clean up soil and sand contaminated with hydrocarbon material, producing heavy crude that can be used for asphalt or other purposes. Our RPCs have the ability to process 20 – 40 tons of material per hour, resulting in 250 barrels of heavy crude oil per day.
Not only are RPCs efficient producers, but they are one of the few environmentally friendly means of oil sands remediation. Historically, oil sands mining has been viewed in a negative light because it emits three to four times more greenhouse gases than other methods of oil production, but our RPCs do not.
In fact, Vivakor’s Remediation Processing Centers are entirely closed-looped, preventing the emission of carbon into the atmosphere. Not only is our extraction process clean and environmentally friendly, but we are turning waste into a usable product. In many instances, if we do not clean up hydrocarbon contaminated material, it simply gets deposited into a landfill. Our remediation process permanently cleans it up. From every angle, Vivakor impacts the environment for good.
While the state of today’s markets is distressing, Vivakor is uniquely positioned to succeed and fulfill our vision of environmentally friendly oil sands extraction while creating a new supply of asphalt and energy to meet an ever-growing demand.