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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.
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