Access to the world's largest remaining conventional, undiscovered oil and natural gas reserves — 13 percent of recoverable oil and 30 percent of
recoverable natural gas resources — is at stake.
A new EIA report shows that shale resources in the United States and worldwide represent 10 percent of the world's crude oil and 32 percent of the world's technically
recoverable natural gas resources.
[iii] According to the EIA report, the United States has recoverable oil resources that are 36 times larger than its proved oil reserves and
recoverable natural gas resources that are 7 times larger than its proved natural gas reserves for 2014.
The Arctic contains the world's largest remaining conventional, undiscovered oil and natural gas, estimated at 13 percent of recoverable oil and 30 percent of
recoverable natural gas resources.
Not exact matches
This new cold war is all about trade and
resources: According to a 2008 study by the U.S. Geologic Survey, the Arctic has 20 percent of the planet's undiscovered and
recoverable oil and
natural gas deposits.
quote: «Not every acre of land under lease contains commercially
recoverable oil or
natural gas resources.
The U.S. Energy Information Agency (EIA) reports that over 1,300 trillion cubic feet of technically
recoverable shale and tight
natural gas and 89 billion barrels 9 of technically
recoverable shale oil
resources currently exist in discovered shale and tight sandstone plays.
While
natural gas reserves reached another record in 2014 and oil reserves were the highest since 1972, the technically
recoverable resources from which they came are enormous and will continue to supply proved reserves for Americans for decades to come.
The part of these
resources that become economically
recoverable resources will depend on the market price of
natural gas from foreign sources, including both pipeline
gas and liquefied
natural gas, as well as the capital and operating costs and productivity of shale
gas production within China.