Abstract

The aim of this study is to review the extraction and process methodologies of shale oil and its impact to environment, global energy and economy in near future. The production of shale oil has lowered the current crude oil price recently. The global energy market will start to shift from petroleum/crude oil to shale oil as the impeding shortage of petroleum reserve in the coming decades. The study shows that the impact to environment due to extract and process of shale oil can be contained. Shale oil will have great impact to global energy and economy. It would contribute about 6% of total energy demand by 2035 benefiting the large net oil importers with forecasted GDP growth of 2 to 7%. On the other hand, major current oil exporters would have a reduction of their trade balances by roughly 4 to 10% by 2035.

Keywords:

Kerogen, pyrolysis, shale oil , unconventional fuel,

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Competing interests

The authors have no competing interests.

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