Since this is a budding industry, (block-chain) I try to keep an open mind about the potentials and uses.
This company uses blockchain in its bitumen mining operations. They claim that the use of block-chain has led them to environmentally safer and cheaper extraction costs that are equal to 20bbl. That makes this cheaper to extract than in the middle east. Further, if their claims are validated, they will transform the dirtiest of all oil fields (Canadian Tar Sands).
Interestingly, the stock price follows bitcoin. The Purple line represents Bitcoin for the same period..
Blockchain is starting to transform business in a major positive way. petroteq.energy/
This is not about Canadian tar sands, neither has it anything to do with Blockchain. The company has a technology which can deliver oil from oil sands in Utah and has just formed a JV with very strong players.