| Summary |
Annotation This book looks at developments in oil shale which is the largest untapped domestic resource with the greatest potential to decrease our dependence on foreign oil. Over 70% of the world's oil shale resources occur in the United States. These deposits contain over 1.5 trillion barrels of shale oil. If only 800 billion of this can be recovered, that alone would supply all of our current domestic petroleum needs for the next 100 years or more. The 2005 Energy Security Act demonstrated that the US government might finally encourage the development of these valuable oil shale resources. The nation's production of crude oil has been declining since the 1970s while its demand has continued to increase, making the country increasingly dependent on imported oil. However, there are lingering questions about our ability to produce shale oil in this country. Most of these questions discussed in this book, centre on key issues such as: (1) is the technology available and will it work on a large scale?; (2) can shale oil be produced profitably?; (3) can shale oil be produced in an environmentally responsible manner?; and (4) what are the socio-economic impacts going to be on the local regions where these developments occur? Oil shale requires an expensive, high-risk, long-lead time development program and the federal government controls most of the resource. They will therefore ultimately determine whether or not shale oil is ever produced at a level sufficient to improve our economic and national security. |
