US Dept. of Energy, Energy Information Admin.
[Green Car Congress] The US Energy Information Administration (EIA) has released a new report that estimates that shale oil and shale gas resources in the United States and in 137 shale formations in 41 other countries represent 10% of the world’s crude oil and 32% of the world’s natural gas technically recoverable resources—i.e., those that can be produced using current technology without reference to economic profitability.
Among the highlights in the 2013 report is a 10-fold increase in the estimate of technically recoverable shale / tight oil from 32 billion barrels (from the EIA’s Annual Energy Outlook 2011) to 345 billion barrels. The report also estimates technically recoverable shale gas resources of 7,299 trillion cubic feet—10% higher than an estimate in an earlier 2011 report on recoverable shale gas resources…