"Sky Quarry is a Utah-based energy company, specializing in creating solutions to the environmental issues caused by the landfill disposal of waste asphalt roofing shingles. Recycling those shingles could potentially recover 20-22 million barrels of oil and approximately 9-11 million tons of sand."
"The ongoing war in Iran has stoked worries about material and commodities shortages, especially oil, putting shares of domestic producers, like Sky Quarry, in higher demand. The stock reacted to President Trump's threat to blockade the Strait of Hormuz after a peace deal with Iran could not be reached."
"At $110 oil, the economics for local drilling and local refining both improve materially. Several producers we work with are actively evaluating opportunities to increase production."
Sky Quarry Inc, a Utah-based energy company, specializes in recycling waste asphalt roofing shingles, potentially recovering significant oil and sand resources. The stock price surged from around $5 to approximately $12.60, peaking at $14.69, driven by concerns over oil shortages amid geopolitical tensions. The company operates an oil refinery in Nevada and is exploring increased domestic crude oil production. CEO Marcus Laun noted that higher oil prices improve the economics for local drilling and refining, prompting discussions with producers to enhance production capabilities.
Read at Fast Company
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