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Oil shale is an inorganic rock that contains a solid organic compound known as kerogen. Oil shale is a misnomer because kerogen isn't crude oil, and the rock holding the kerogen often isn't even shale.
Liquid crude oil consists of organic material--plant and animal remains--that's been exposed to heat and pressure over millions of years. The slow transformation of organic material into oil progresses through a number of stages. Kerogen occurs relatively early in this process. To understand where kerogen fits into the developmental timeline, consider that bitumen--the hydrocarbon found in Canada's oil sands--represents a later stage in the process. In a sense, bitumen is a higher-quality and more useful hydrocarbon than kerogen.
To generate liquid oil synthetically from oil shale, the kerogen-rich rock is heated to as high as 950 degrees Fahrenheit (500 degrees Celsius) in the absence of oxygen, a process known as retorting.
Carter insisted that U.S. automakers build more fuel-efficient cars, with a goal of 27.5 miles per gallon over the following decade - a requirement passed under Gerald Ford but put into force by Carter.
He offered incentives for getting oil from shale, creating a boom initially in the Rockies - and a bust when it failed to be cost-effective.
Originally posted by benrl
Taxes can impact it a great deal, just crossing the org ca boarder drops the prices something like 20 cents alone in state tax, take the fed away as well as state and I. Some places that's 40 cents.
In org they even pump the gass for you w out the state tax.
Originally posted by pheonix358
I have to ask!
The USA increased it's exports in crude oil. Any chance they may have obtained these exports from somewhere else. I am thinking Iraq for instance. Wouldn't want to admit where it came from. It just seems very strange that the USA invades a country rich in oil reserves and suddenly has an over abundance of oil.
Just asking the question!
Originally posted by Echo007
They should copy what China is doing, require x amount of our resources to be used domestically.
2. There are trillions upon trillions of barrels of crude reserves hidden below the rockies!
No, those aren't crude reserves, those are shale oil reserves, and the USG estimates around 1.5 trillion barrels. Shale oil (otherwise known as Kerogen) is a non-renewable alternative energy source to crude oil, it is a different type of oil all together. Shale oil can be converted and used in the same manner as crude oil, but it takes a considerable amount more in energy to convert, as well as in extraction.
President Obama has said the U.S. possesses just 3 percent of the world's oil reserves, or about 22.3 billion barrels, writes Investor's Business Daily's John Merline. However, this figure represents just proven reserves. But one analyst believes he could be off by almost a trillion. According to the Institute for Energy Research's calculations, the U.S. actually sits on 1.442 trillion barrels of recoverable deposits.
That's over 60 times the amount we usually hear about. Merline writes that this larger number would be enough to meet all U.S. oil needs for about the next 200 years. Most of that — an estimated 1.4 trillion barrels — is locked into shale deposits in the Green River Formation in Wyoming.
The US Is Sitting On A 200-Year Supply Of Oil
For half a century, the global energy supply's center of gravity has been the Middle East. This fact has had self-evidently enormous implications for the world we live in -- and it's about to change.
By the 2020s, the capital of energy will likely have shifted back to the Western Hemisphere, where it was prior to the ascendancy of Middle Eastern megasuppliers such as Saudi Arabia and Kuwait in the 1960s. The reasons for this shift are partly technological and partly political. Geologists have long known that the Americas are home to plentiful hydrocarbons trapped in hard-to-reach offshore
But since the early 2000s, the energy industry has largely solved that problem. With the help of horizontal drilling and other innovations, shale gas production in the United States has skyrocketed from virtually nothing to 15 to 20 percent of the U.S. natural gas supply in less than a decade. By 2040, it could account for more than half of it. This tremendous change in volume has turned the conversation in the U.S. natural gas industry on its head; where Americans once fretted about meeting the country's natural gas needs, they now worry about finding potential buyers for the country's surplus.
Meanwhile, onshore oil production in the United States, condemned to predictions of inexorable decline by analysts for two decades, is about to stage an unexpected comeback. Oil production from shale rock, a technically complex process of squeezing hydrocarbons from sedimentary deposits, is just beginning. But analysts are predicting production of as much as 1.5 million barrels a day in the next few years from resources beneath the Great Plains and Texas alone -- the equivalent of 8 percent of current U.S. oil consumption. The development raises the question of what else the U.S. energy industry might accomplish if prices remain high and technology continues to advance. Rising recovery rates from old wells, for example, could also stem previous declines. On top of all this, analysts expect an additional 1 to 2 million barrels a day from the Gulf of Mexico now that drilling is resuming. Peak oil? Not anytime soon.