There is still uncertainty about the technical and commercial scope of shale resources, especially outside North America. The Department of Energy is adopting the model of finding-and-development costs for international shale resources developed by Ken Medlock and Peter Hartley of CES. Shale gas and shale oil (or light tight oil) development hinges on more than cost and technology; it is critical that environmental impacts, market structure, public sentiment and regulatory frameworks all be evaluated.
The CES has an existing focus on unconventional resources, in particular shale gas and light tight oil. The program’s recent ongoing work focuses on economics, policy and community response, and is providing critical analysis of market trends.