The Potential For Shale Oil Production

Heard about the big shale oil extraction boom in North Dakota? California has 4 times as much shale oil as North Dakota and that's over two thirds of total US shale oil. So far, little of the crude is derived from the Monterey Shale, whose untapped deposits are estimated at 15.4 billion barrels, or more than four times the reserves of the Bakken Shale in North Dakota, according to the United States Energy Information Administration. Shale oil is cited as a reason why Peak Oil is a bad theory. But consider: 15.4 billion barrels is less than half current world yearly oil consumption. The Monterey Shale is not that big. Don't get me wrong. Shale oil is good news for...

Source: FuturePundit - February 6, 2013 Category: Health Medicine and Bioethics Commentators Authors: Randall Parker Source Type: blogs