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More than 50% of the United States oil reserves come in the form of unconventional shale oil, with Texas alone containing 60 million barrels of this type of fossil fuel.
Those in the Gulf account for 62 percent. The Gulf statesâ proven reserves grew from 398 billion barrels in 1985 to 572 billion barrels in 1988, while those of much of the rest of the world barely stayed even, despite huge expenditures on exploration. [4] This has been most pronounced in the US, still by far the worldâs largest consumer of oil.