14.02.2013 - Shale oil 'to boost world economy by up to $2.7tn'
Shale oil production could boost the world economy by up to $2.7tn (1.7tn) by 2035, according to a report. The extra supply could reach up to 12% of global oil production, or 14 million barrels a day, and push global oil prices down by up to 40%, PricewaterhouseCoopers said. Shale oil and gas have emerged as a viable way to boost energy supplies. However, there are concerns over the process by which the gas is extracted, known as fracking...............................................Full Article: Source
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