The growing demand for energy is expected to exhaust the world’s crude oil reserves in another 40 years. The market price of crude oil reached $145 per barrel in the third quarter of 2008. Though the cost per barrel was around $60 in 2009, it is expected to rise in the next few years. Fluctuating costs have created the need for other resources to meet the growing demand for fuel oil. Global oil shale resources can supply more than 2.8 trillion barrels of nonrenewable energy. This is almost three times the capacity of crude oil reserves.

The briefing on the Global Oil Shale Market will benefit the oil shale companies, petroleum companies, energy companies, mining companies, and technology providers. “In the next five-six years with increasing energy consumption and decreasing crude reserves will lead to the commercialization of the oil shale” notes MarketsandMarkets.

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