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New EIA report boosts estimates of global recoverable shale oil resources 10-fold to 345 billion barrels

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The US Energy Information Administration (EIA) has released a new report that estimates that shale oil and shale gas resources in the United States and in 137 shale formations in 41 other countries represent 10% of the world’s crude oil and 32% of the world’s natural gas technically recoverable resources—i.e., Report terminology.

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Study reports non-US global shale gas recoverable resources of 5,760 Tcf; global shale gas boosts total recoverable natural gas resources by 40%

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Initial assessments of 48 shale gas basins containing almost 70 shale gas formations in 32 countries suggest that shale gas resources, which have recently provided a major boost to US natural gas production, are also available in other world regions. A new EIA-sponsored study by Advanced Resources International, Inc. Click to enlarge.

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GECF: more than a quarter of 2050 natural gas supply untapped

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Yet-to-find (YTF) resources will contribute to around 30% of the total production of natural gas worldwide by 2050, according to Yury Sentyurin, the Secretary General of the Gas Exporting Countries Forum (GECF).

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Global CO2 emissions up 3% in 2011; per capita CO2 emissions in China reach EU levels

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Global emissions of CO 2 increased by 3% last year, according to the annual report “Trends in global CO 2 emissions”, released by the EC Joint Research Centre (JRC) and the Netherlands Environmental Assessment Agency (PBL). At 3%, the 2011 increase in global CO 2 emissions is above the past decade’s average annual increase of 2.7%.

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US Shale Is Now Cash Flow Neutral

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That has companies like Concho Resources, Murphy Oil, Devon Energy, Pioneer Natural Resources and EOG Resources all stepping up their spending levels heading into 2017. The US dollar is at its strongest level in nearly a decade, which will weigh on global crude oil demand. Of course, OPEC cheating is a possibility.

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RAND reports suggest US DoD use less petroleum fuel to deal with high prices, not count on alternatives

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Bartis and RAND colleague Lawrence van Bibbe were the authors of a 2011 RAND report concluding that if the US military increased its use of alternative jet and naval fuels that can be produced from coal or various renewable resources, including seed oils, waste oils and algae, there would be no direct benefit to the nation’s armed forces.

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Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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Of the non-Saudi, non-Gulf Arab ally OPEC members, only Libyan per capita resources exceed the average. Interestingly, also, the Saudis increased their share of OPEC average daily output in the first half of 2015 over 2014 average daily volume—and their share of average daily global output. trillion of $3.05 billion vs. $1.6