US Shale Revolution, Staggering Global Potential
The US may be the only country undergoing a shale revolution, but it doesn’t have the biggest shale oil and gas reserves in the world.
The global shale oil and gas potential is a staggering 345 billion barrels of oil and 7.2 quadrillion cubic feet of natural gas, according to a new report from the US Energy Information Administration (EIA).
Topping the list for shale oil is Russia, with 75 billion barrels—compared to the US’ 48 billion—and China with 32 billion barrels, trailed by Argentina in third with 27 billion barrels and Libya.
For shale gas, outside of the US, the line-up has China on top, followed by Argentina, Algeria, Canada and Mexico. The US comes in fourth, after Algeria, for shale gas resources.
But in terms of developing shale resources, no one comes close to the US, ...
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