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<br />-8- <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />followed through 1965 without our becoming overly dependent <br />on overseas oil. However, when production levels off, <br />then begins to decline, the deficit between production and <br />demand will increase at more than twice the present rate, <br />reaching about 7,000,000 barrels per day by 1975. <br />It seems reasonable that shale oil production to sup- <br />ply a part of this large deficit will begin between 1965 <br />and 1970. A pioneer production unit to establish the <br />technology on a commercial basis probably will be built <br />prior to this time, Assuming a logical pattern of develop- <br />ment for the shale industry, unaffected by war or other <br />emergencies, shale oil production should reach about <br />1,250,000 barrels per day by 1975. <br /> <br />INFORMATION ON OIL SHALE <br /> <br />Oil Shale Reserves <br />Shale oil has long been looked upon in the United <br />States and elsewhere as the logical supplement to petro- <br />leum. Oil Shale reserves are large and widely distributed. <br />The shale oil potential of the United States exceeds the <br />combined petroleum reserves of the Middle East and Vene- <br />zuela and is many times greater than the most optimistic <br />prediction of ultimate petroleum discoveries in the United <br />States. Without question, shale oil, when needed, can <br />contribute significantly to our energy supply. <br />Svenska Skifferolje AB, the Swedish Shale Oil Company, <br />has roughtly estimated the world's oil reserves in shale (18). <br />Table 1 gives their estimates by country in which oil shale <br />is known to occur. <br />