Resources

The world oil shale resource is massive and ubiquitous in many countries throughout the globe. There are huge, global oil shale deposits available for development, as the world demand for oil increases and technology proves that these deposits can be produced within reasonable economic and environmental guardrails. Countries such as the United States, Estonia, and Australia have had a long-standing interest in their national oil shale resources and have detailed geological surveys of the respective resources. Other countries, with utilizable quantities of resources, require an enhanced level of exploration and geological examination before they can think in terms of development.

There are many estimates of world oil shale supply, ranging from in excess of 8 trillion barrels to as little as 2 trillion barrels. The United States alone can claim a resource base in excess of 6 trillion barrels if all of the lean and un-utilizable resource throughout the country is considered. This is, of course, impractical, since much of this resource is simply uneconomic to develop. In addition, as with the development of all minerals, including oil, economic recovery is the guiding principle behind development. Considerations of access, concentration, resource size, deposition, and quality (richness) are the drivers of this economic calculus along with the efficiency and cost-effectiveness of the recovery technology.

Dr. John R. Dyni, one of the leading experts in the world on oil shale, estimates the world’s recoverable resource at 2.8 trillion barrels [1]. Only Estonia, China, and Brazil have sustained oil shale production for any extended period of time. Countries like the United States, Australia, Israel and Morocco have conducted substantial exploration and, in some cases, technology demonstration programs; the prototype leasing program in the United States in the mid and late 1970s is an example.

Some of the larger utilizable oil shale resources in the world (in billions of barrels) are [2]:

[1] 2007 Survey of Energy Resources, Chapter 3 page 98: by J. R. Dyni, U.S. Geological Survey.

[2] 2007 Survey of Energy Resources, Chapter 3, pages 101-102: by J. R. Dyni, U.S. Geological Survey.