GLRPPR Sector Resource: Unconventional Fossil Fuels Factsheet
Unconventional Fossil Fuels Factsheet
Globally, fossil fuels supply 81% of primary energy. In 2015, 81% of U.S. primary energy consumption came from fossil fuels. Conventional and unconventional fossil fuels differ in their geologic locations and accessibility; conventional fuels are often found in discrete, easily accessible reservoirs, while unconventional fuels may be found within pore spaces throughout a wide geologic formation, requiring advanced extraction technologies. If unconventional oil resources (oil shale, oil sands, extra heavy oil, and natural bitumen) are taken into account, the global oil reserves quadruple current conventional reserves. The price of crude oil increased 207% from 2000 to 2014, making unconventional fossil fuels more cost-competitive. However, in 2015, the price of crude oil fell to $48.66 per barrel from its 2012 peak of $111.63. The Energy Policy Act of 2005 includes provisions to promote U.S. oil sands, oil shale, and unconventional natural gas development.
Center for Sustainable Systems - University of Michigan
Date of Publication:
One East Hazelwood Drive; Champaign, IL; 61820; (800) 407-0261; firstname.lastname@example.org