Oil and Gas

U.S. energy consumption is expected to increase at an annual compound rate of about 1.1 percent through 2030. Much of the increased demand will probably be met by imports, but oil in shale deposits, recovered by fracturing methods, has boosted the United States’ own reserves and lessened its dependency on foreign oil. According to the Institute for Energy Research, the United States has more shale oil reserves than any other country in the world, with the largest deposits located in Colorado, Utah, New Mexico, and Wyoming. Though extraction poses some technical challenges, U.S. oil shale in-place resources (the total amount of producible and nonproducible oil) contain the energy equivalent of more than 2 trillion barrels of oil.

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