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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.
September 1861, it produced 3,000 barrels per day, flooding the market, and. the price of oil plummeted to 10 cents a barrel. In some ways, we see the. same effect today. When new shale gas fields in the US are constrained by. the capacity of the existing oil and gas pipeline network, it results in.