Global Booming and Development of Shale Oil

Crude oil, as one of the most important source of energy, has been ceaselessly been produced and been utilized around the globe. While the experts expect that there’s limited amount of crude oil left to be produced, an unconventional oil (shale oil) has emerged into the market. According to EIA (Energy Information Administration), shale oil production of U.S. is relentlessly increasing, and this trend is likely to last for newt few decades. This paper will identify certain unique features of U.S. shale industry that makes them number one shale oil producers in the world as well as its impact in oil price. It will also examine some of the directions other shale owning countries must take in order to implement a successful shale development.