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March 6th, 2006

Nanotech of the North

Jack Uldrich: Chevron (NYSE: CVX) recently announced a $60 million acquisition of the leases to 75,000 acres in northern Canada in order to develop a giant oil-sands project. The risky venture could ultimately cost tens of billions of dollars and take up to a decade to develop, since the tar in the oil sands isn't easily converted to usable oil. But Chevron may have a very tiny ace up its sleeve, thanks to its involvement with nanotechnology.


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