In the United States, yes. By the Department of Energy’s last estimate, we have about 21 billion barrels of crude oil in reserve, which translates to about the equivalent energy supply as 117 trillion cubic feet of shale gas. In June, on the other hand, the Potential Gas Committee estimated that the country has 2,074 trillion cubic feet of natural gas reserves. And shale is expected to supply half of North America’s unconventional natural gas by 2020, so it is a far more reliable and plentiful source of energy than crude oil in this country at this point. A reliable worldwide estimate would be much harder to find.
The US Energy Information Administration (EIA) estimates that our country has reserves of over 267.27 trillion cubic feet of shale gas. The EIA estimates that, given 30.46 billion barrels of US oil, that is roughly equivalent to 168.44 trillion cubic feet. Therefore, even given discrepancies between how much barrels can hold of oil versus gas, it is clear that our country has far far more cubic feet of shale gas than oil (by almost 100 trillion cubic feet’s worth)
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