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The United States has the largest known deposits of oil shale in the world, according to the Bureau of Land Management and holds an estimated 2.175 trillion barrels (345.8 km 3) of potentially recoverable oil. [21] Oil shale does not actually contain oil, but a waxy oil precursor known as kerogen. There is significant commercial production of ...
Major oil shale deposits are located in the Democratic Republic of Congo (equal to 14.31 billion metric tons of shale oil) and Morocco (12.3 billion metric tons or 8.16 billion metric tons of shale oil). Deposits in Congo are not properly explored yet. [7] In Morocco, oil shale deposits have been identified at ten localities with the largest ...
The history of the oil shale industry in the United States goes back to the 1850s; it dates back farther as a major enterprise than the petroleum industry. Although the United States contains the world's largest known resource of oil shale, the US has not been a significant producer of shale oil since 1861.
The United States has two significant oil shale deposits which are suited for commercial development due to their size, grade and location. The Eocene Green River Formation covers parts of Colorado, Wyoming and Utah; the second significant deposit is Devonian oil shales in the eastern United States. In both places, there are sub-basins varying ...
According to a Dallas Fed survey, US oil company chiefs plan to increase spending in 2025. 58% of shale execs said they would increase spending, and 34% said they would increase investment.
A 2016 estimate set the total world resources of oil shale equivalent to yield of 6.05 trillion barrels (962 billion cubic metres) of shale oil, with the largest resource deposits in the United States accounting more than 80% of the world total resource. [6]
In the United States early oil-shale industry concentrated on the eastern oil shale deposits. [31] An oil distillery was built in 1855 at Breckinridge County, Kentucky to produce oil from locally mined cannel coal. By the following year it was producing 600 to 700 US gallons per day (2.3 to 2.6 m 3 /d). In 1860, there were 55 companies in the ...
(The data below does not seem to include shale oil and other unconventional sources of oil such as tar sands. For instance, North America has over 3 trillion barrels of shale oil reserves, [ citation needed ] and the majority of oil produced in the US is from shale, leading to the paradoxical data below that the US will finish all its oil at ...