“Advances in technology make liquids production in previously inaccessible regions increasingly feasible,” the EIA said. “An important example of the potential impact of technological advances is the rapid growth of U.S. shale oil production in recent years.”
World Shale
World shale oil recoverable resources are 345 billion barrels, according to the EIA.
The report also made these predictions:
-- Fossil fuels, including oil, natural gas and coal, will supply almost 80 percent of world energy through 2040.
-- Natural gas use will grow 64 percent, faster than any other fossil fuel. Consumption will be 185 trillion cubic feet in 2040, up from 113 trillion in 2010.
-- Renewable and nuclear, the fastest-growing sources, will increase by 2.5 percent a year.
-- Coal consumption will rise 1.3 percent a year to 220 quadrillion Btu in 2040 from 147 quadrillion.
-- Energy-related carbon dioxide emissions are projected to increase 46 percent to 45 billion metric tons by 2040.
-- Net electricity generation will almost double, rising to 39 trillion kilowatt-hours from 20.2 trillion.