Forever changing

the climate.

It seems that potential new Shale oilfields in Argentina, Russia and Algeria also hold giant reserves of expensive, hard-to-get, difficult-to-refine, sludge to pout in our gas tanks.

Analysis by IHS published on Tuesday morning suggests fields including the Vaca Muerta of Argentine, the Bazhenov shale of Siberia and the Silurian shales of north Africa could produce more than the Bakken shale of North Dakota and the Eagle Ford of Texas.

However, the research group’s findings also show that costs for extracting “tight oil” reserves, held in shales and other challenging rocks, are significantly higher in other countries than in North America, suggesting they will need a higher oil price to be commercially viable.