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The oil shale industry is an industry of mining and processing of oil shale—a fine-grained sedimentary rock, containing significant amounts of kerogen (a solid mixture of organic chemical compounds), from which liquid hydrocarbons can be manufactured.
The United States oil shale industry collapsed when oil prices fell in the early 1980s. On 2 May 1982, known as "Black Sunday", Exxon cancelled the Colony project due to low oil-prices and increased expenses, laying off more than 2,000 workers.
The Green River oil shales have been the focus of most efforts of the past hundred years to establish an American oil shale industry. The Green River oil “shale” is actually a marl, and some beds yield up to 70 gallons of oil per short ton of shale. Estimated in-place resources are capable of generating 4.2 trillion barrels of oil.
The global oil-shale industry began to revive at the beginning of the 21st century. In 2003, an oil-shale development program restarted in the United States. Authorities introduced a commercial leasing program permitting the extraction of oil shale and oil sands on federal lands in 2005, in accordance with the Energy Policy Act of 2005. [50] [51]
As oil production increased, the oil shale refiners discovered that their refining process worked just as well with petroleum, and that petroleum was a cheaper raw material than shale oil. In 1861, the existing oil shale refiners switched to petroleum feedstock, and the oil shale mines shut down. In the 1800s, the principal refined product was ...
But the shale industry quickly bounced back with heavy investments and led the U.S. to become the world's largest oil producer in a few years. It produced a record 12.9 million barrels per day ...
Shale oil is an unconventional oil produced from oil shale rock fragments by pyrolysis, ... evidence of the early paraffin oil industry in the 19th century Scotland.
To curb dependence on foreign oil, he promised to set import quotas and encourage alternate sources, such as coal, shale oil, plant-based fuel, unconventional gas, and solar energy. "We will ...