Shale oil is a substitute for conventional crude oil ; however, extracting shale oil is more costly than the production of conventional crude oil both financially and in terms of its environmental impact. Deposits of oil shale occur around the world, including major deposits in the United States.
What are the disadvantages of using oil shale?
Another environmental disadvantage to extracting shale oil is the enormous amounts of freshwater required . Water is necessary for drilling, mining, refining, and generating power. ... Mining can also contaminate groundwater. During in situ processing, toxic byproducts are left underground.
What is the difference between crude oil and shale oil?
The primary distinction between crude or conventional oil and shale oil is the way it collects . The oil in shale is typically found in smaller batches. As a result, shale oil often needs to be fractured so that the oil trapped within the shale can be recovered.
What are the advantages of oil shale?
- Shale oil production makes the United States more energy independent.
- Storing barrels of shale oil helps prices remain more stable.
- Shale oil extraction (fracking) benefits from innovative drilling techniques.
- Fracking causes ecological damage to the environment.
Is shale oil a type of crude oil?
Shale oil can, in fact, refer to two types of oil: crude oil that is found within shale formations or oil that is extracted from oil shale . In the United States, the largest formations providing shale oil are found in the Permian, Eagle Ford, and Bakken Basins.
How long will US shale oil last?
It’s closing in on the 2 million barrels a day produced by Texas. In 20 years, its number of wells could increase from the current 8,000 to at least 40,000. Part of the reason for expansion is that each well runs dry after about two years .
What is the break even price for shale oil?
According to BloombergNEF’s estimates, U.S. oil producers have cut their average breakeven costs from an average of $56.50 per barrel last year to $45 a barrel now.
Which country has the most shale oil?
Russia has the biggest shale oil reserves in the world.
How bad is shale oil for the environment?
The production of oil from shales has a potentially serious impact on the environment . Four specific areas of concern dominate discussion regarding development of the resource: greenhouse gas output, water consumption and pollution, surface disturbance, and socioeconomic effects.
How long does shale take to form?
Shale formations are a worldwide occurrence (see Chapter 2). Shale is a geological rock formation rich in clay, typically derived from fine sediments, deposited in fairly quiet environments at the bottom of seas or lakes, having then been buried over the course of millions of years .
What are the disadvantages of shale gas?
- Fosile fuel which emits carbon dioxide when it’s burned.
- Contains 80-95% methane, a potent greenhouse gas (GHG)
- Energy penalties at every stage of production and distribution.
- Energy use competes with use for chemicals and fertilizers.
- Environmentally dangerous. Water pollution due to runoff of fracking chemicals.
Who produces the cleanest oil in the world?
We’re entering a golden age for oilsands production. The massive industrial-scale nature of oilsands production worked for decades to make producing oil in the Fort McMurray region a higher-cost and higher-emissions proposition.
Does the US process shale oil?
Output from American shale oil fields has pushed U.S. crude production to all-time highs. ... Most American refineries are configured to process heavier crude grades , creating a mismatch with the growing supply of light shale oil being extracted in places like the Permian Basin in Texas.
What is the cost of shale oil?
The production cost of a barrel of shale oil ranges from as high as US$95 per barrel to as low US$25 per barrel , although there is no recent confirmation of the latter figure.
Why is shale oil expensive?
Shale oil drilling and extraction are far more labor-intensive than conventional oil extraction , making the process necessarily pricier.
What is shale oil boom in the US?
The “Shale Revolution” refers to the combination of hydraulic fracturing and horizontal drilling that enabled the United States to significantly increase its production of oil and natural gas , particularly from tight oil formations, which now account for 36% of total U.S. crude oil production.
