FINANCIAL TIMES: Global shale resources are vast enough to cover more than a decade of oil consumption, according to the first-ever US assessment of reserves from Russia to Argentina.
The US Department of Energy estimated “technically recoverable” shale oil resources of 345bn barrels in 42 countries it surveyed, or 10 per cent of global crude supplies. The department had previously only provided an estimate for US shale reserves, which it on Monday increased from 32bn barrels to 58bn…
The question of whether other countries can replicate North America’s success in drilling in shale rocks has captivated geologists and diplomats. US crude imports are at a 16-year low, reconfiguring the map of global oil trade… (more)
