| المستخلص: |
More than a hundred years have elapsed since the fossil fuel energy has become the preeminent cornerstone of the civilized human society. Such a position has continuously evolved so that fossil fuel is currently meeting the lion’s share of the global energy demand. As the twentieth century was themed with environmental changes- considerations, global warming was linked -by some institutes- to increasing consumption of fossil fuel, Policies were established and pledges were made as to address the phenomena. However, extrapolating the current demand to the foreseen future shows that fossil fuel will remain the major source with 75% share of the energy mix, energy demand in general is forecasted to increase by 40% within the next two decades. Conventional fossil fuel resources are abundant, but many factors need to be considered before simple- figure resources could be classified as reserves that could spin the wheel of development after passing through the world energy markets. The increase of conventional oil prices has participated in re-evaluating the resources that once were economically unavailing. Advanced technologies enabled the utilization of some reservoirs that used to be regarded as cap rocks or source rocks. Following the success of some countries in the exploitation of their shale oil resources, the world began to reconsider the possibility of developing this type of hydrocarbons, some have even argued that the extracted oil might contribute to changing the shape of the world energy markets by impacting producers of conventional oil, especially those in the Middle East and North Africa. Within the last few years, much attention was drawn towards the so called Shale Revolution in USA, numerous research centers rushed to preach a new petroleum era that could pause what the consumers accept as the producers’ cartel to which oil production and prices are attributed. The media in turn enlarged the image as if shale oil and gas were going to reshape the petroleum industry for good, and provide energy for pennies. This study sheds light on shale oil resources and production, and investigates the obstacles that faces its effective utilization. The study also outlooks current and future real reflection of shale oil production on the energy market. The study concluded that there is a remarkable contrast in estimating shale oil resources and its future potential production around the world. It also noted the main reasons behind the success of USA in utilizing shale oil and gas of which are the availability of human resources, considerable investments, governmental incentives, abundance of water resources, and the vast number of rigs. Kuwait, 2014.
|
