According to the analysis by the World Resources Institute, 38 percent of the earth’s shale gas and tight oil resources are in areas that are either arid or under high levels of water stress already _ a scenario that does not mesh with the high water demands of today’s extraction techniques.
The United States accounted for 10 percent of world crude oil production in the fourth quarter, with oil from unconventional tight rock operations accounting for almost half of the crude American wells produced.
Removing the current ban on crude oil exports would lower consumer prices and stimulate further tight oil production, the chief executive officer of ConocoPhillips said at an energy conference Tuesday morning.
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