US SHALE OIL-GAS PRODUCTION POTENTIAL—1: Shale oil, gas output may reduce, not replace, US crude imports

Richard S. Bishop Rick A. Baggot Wayne L. Kelley Robert E. Fargo RSK (UK) Ltd. Houston What is the potential of domestic unconventional shale oil and gas production to displace oil imports to the US? The large potential resource volumes reported for shale oil and gas have generated comparably large expectations for increased future oil and gas supplies in both the US and the rest of the world. These expectations include the substitution of domestic gas for imported oil, utilizing domestic gas as a cleaner or safer alternative for coal and nuclear generated electricity, and as well as providing gas exports. Unfortunately, however, the large resource volumes of unconventional oil and ga...

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