Current world oil prices have forced a revaluation of many enhanced oil recovery processes. One very promising approach is the use of low-cost alkaline chemicals combined with surfactants and polymers. It has been determined from the testing of hundreds of oils that acid number and API gravity are simplistic screening criteria and are of very little value in many cases. Oil recovery experiments in the laboratory have resulted in residual oil saturations as low as with the micellar-polymer technology for as little as 10% of the chemical costs. At this time, field applications are still in their early stages, but indications are that this technology has the potential for producing incremental oil for less than $3 per barrel.