The US has the largest recoverable shale gas reserves and the second largest recoverable shale oil reserves in the world. It also enjoys a technological lead in shale energy technologies, and it already has a vast network of pipelines, refineries, and ports in the energy sector that can be repurposed for shale gas and oil (though much more investment will be needed).

Oil shale reserves are expected to last for the next 30 years.

We found out that we could go to the source rock, which were the carboniferous shales in the basins.

This stuff is everywhere.

Shale Gas to the Rescue?

It is understood that a 10 billion cubic meter shale gas field is equivalent to a 10 million tonne oil field.

Compare this to the opportunity of the Bowland Shale. If, by 2020, the UK could exploit its reserves there at just one third the intensity of the exploitation of the Barnett and Marcellus Shales today, the outcome would be phenomenal.

Many Parties provided information on alternative energy resources and mentioned that these include photovoltaic, solar thermal, wind, hydroelectric, geothermal, oil shale, and biomass energy.

It is understood that Chongqing currently owns 18 shale gas exploration rights established by Ministry of Land and Resources as the first domestic shale gas mining rights the Sinopec Fuling shale gas field.

PRAGUE In late June, the British Geological Survey announced the world s largest shale gas field. The Bowland Shale, which lies beneath Lancashire and Yorkshire, contains 50 more gas than the combined reserves of two of the largest fields in the United States, the Barnett Shale and the Marcellus Shale.

The Shale Revolution s Global Footprint

The technology of horizontal drilling and hydraulic fracturing, by which shale and other tight rock formations at great depths are bombarded with water and chemicals, has released major new supplies of both natural gas and oil. America s shale gas industry grew by 45 annually from 2005 to 2010, and the share of shale gas in America s overall gas production grew from 4 to 24 .

And shale is not quite completely competent rock.

You exhibited a painting at the Shale Galleries.

The first one was Barnett Shale in Texas and then the Marcellus up in the Northeast across New York, Pennsylvania, West Virginia and Haynesville in Louisiana.

Shale gas is a clean energy resource. It is understood that the completion of the 10 billion cubic meter shale gas field will help cut 12 million tonnes of CO2 emission annually.

For instance, there is unconventional oil Tar Sands and Shale.

Estonia apos s energy balance and greenhouse gas emissions are dominated by oil shale, which accounts for about 95 per cent of electricity generation, one quarter of the heat requirements, three quarters of total energy related CO2 emissions, and two thirds of methane emissions.

Studies are under way to seek ways of improving the efficiency of oil shale electricity generation and less carbon intensive alternatives.

The latest figures show that the old model is not working. There are a lot of great investments that you can make. If you are investing in tar sands or shale oil, then you have a portfolio that is crammed with sub prime carbon assets.

For example, CERES, a non profit organization, has combined Aqueduct s water stress maps with hydraulic fracturing data (from FracFocus.org) to find that nearly one half of shale oil and gas wells in the US are located in areas with high water stress. Early next year, Aqueduct will offer future projections of water stress based on the latest scientific analysis, including predicted effects of climate change.

For CH4 emissions, underground and surface oil shale mining and operations in oil and natural gas distribution systems account for 67 per cent of total emissions, with agriculture contributing 19 per cent from enteric fermentation and animal waste and the waste sector about 13 per cent.

IHS estimates that in 2012, developments in the shale energy industry increased households real disposable income by more than 1,200. Thus the shale revolution represents a huge stimulus for America, in terms of investment, exports, and a reduction in energy costs.

Last year, for the first time in 15 years, less than one half of the oil consumed in the US was imported. Annual growth in shale gas production has increased from 17 between 2000 and 2006 to 48 between 2006 and 2010.

But extracting shale energy involves environmental risks and uncertainties, among them groundwater contamination, higher methane emissions, and potential seismic effects. And shale gas emits CO2 when burned, even though it has half the carbon content of coal and has played a significant role in cutting US carbon emissions to mid 1990 s levels. 160

But extracting shale energy involves environmental risks and uncertainties, among them groundwater contamination, higher methane emissions, and potential seismic effects. And shale gas emits CO2 when burned, even though it has half the carbon content of coal and has played a significant role in cutting US carbon emissions to mid 1990 s levels.

America cannot realistically expect its allies let alone countries like Iran and Venezuela, with which its relations are strained to adopt principled foreign policies when Middle East Realpolitik distorts its own foreign policy. In the short term, Canadian oil would liberate the US from this hypocrisy.

I recently read an article that suggested that, if oil prices remain at recent levels, US production of shale oil and gas next year could be 10 below recent projections. That seems plausible and, given how important shale oil and gas has become to America s economic recovery, it also seems like something that US policymakers would be eager to avoid.

Even the much heralded shale gas revolution is a lot of hype 160 similar to the gold rushes and stock bubbles of the past. Shale gas wells deplete far more rapidly than conventional fields do.

But pro fracking critics of the European Union miss a second point the EU has no authority over the development of shale gas in Europe. Licensing and regulation of exploration and production are decided at the national level.

Even the much heralded shale gas revolution is a lot of hype similar to the gold rushes and stock bubbles of the past. Shale gas wells deplete far more rapidly than conventional fields do.

Junkies find veins in their toes when the ones in their arms and their legs collapse. Developing tar sands and coal shale is the equivalent. Here are just a few of the investments that I personally think make sense.

But the recent collapse in oil prices could change this dynamic. In refusing to cut its own production, Saudi Arabia seems to be hoping that low oil prices will drive down investment in US shale energy, undermining production growth there.

Fracking technology has also enabled the US to tap its large shale oil reserves, making it the world s largest petroleum producer, ahead of Saudi Arabia. Citigroup estimates that, by 2020, oil will cost just 75 per barrel, and the former head of international forecasting at the OECD suggests that the number could be closer to 50.

IRVING, TEXAS Saudi Arabia wants it all to salvage OPEC, achieve income diversification and industrialization, and preserve its market share in crude oil, petroleum products, petrochemicals, and natural gas liquids (NGLs). Whether the Saudis succeed will be determined largely by the shale energy industry in the United States.

Because natural gas combustion produces fewer greenhouse gases than other hydrocarbons, such as coal or oil, it can be a bridge to a less carbon intensive future. But the low price of gas will impede the development of renewable energy sources unless accompanied by subsidies or carbon taxes.

And incorporating shale gas into the world s energy mix could help to combat climate change by creating a bridge to a low carbon future. So long as methane leakage is contained, CO2 emissions from natural gas combustion can be significantly lower than those caused by reliance on oil.

With the advent of hydraulic fracturing, or fracking, US oil production has risen by 30 , and gas production by 25 , in just five years. Shale gas contributed almost nothing to US natural gas supplies at the start of the century by last year, its share had soared to 34 , with the US Energy Information Administration predicting a further rise to one half by 2040.

The shale would like some shoring, and so parts of it are caved in in there.

Since the US does not allow exports of crude oil, the shale revolution pushed down the US benchmark price, the West Texas Intermediate, relative to international crude prices, sometimes with differentials as wide as 20. US refiners took advantage of lower prices to increase their exports of petroleum products so much so, that they are now threatening the market share of Saudi refineries in Asia and elsewhere.

Many Parties provided information on alternative energy resources and mentioned that these include photovoltaic, solar thermal, wind, hydroelectric, geothermal, oil shale, and biomass energy.

Energy reform opens up electricity generation and oil exploration, extraction, and refining to private foreign or domestic investment through licenses, concessions, production sharing, or profit sharing. The oil workers union has been banished from the board of directors of Pemex, the national oil company, and new contracts for shale oil and gas, together with deep water prospecting and drilling, will be signed with a government agency, not with Pemex.

CAMBRIDGE Oil prices have plummeted 40 since June good news for oil importing countries, but bad news for Russia, Venezuela, Nigeria, and other oil exporters. Some attribute the price drop to the US shale energy boom.

BRUSSELS The global energy community is abuzz with excitement about hydraulic fracturing, or fracking, a newish technology that has opened formerly inaccessible reserves of gas trapped in underground shale formations. The boom in this so called shale gas production has allowed the United States to become almost self sufficient in natural gas.

For example, decreased US demand for liquefied natural gas (LNG) has allowed gas prices to come down in Europe. European utilities bargaining power vis à vis Russian gas giant Gazprom has risen considerably despite long term oil indexed supply contracts.