Shale oil extraction Energy estimates that the "ex-situ" processing would be economic at sustained average world oil prices above $54 per barrel and "in-situ" processing would be economic at prices above $35 per barrel. These estimates assume a return rate of 15%. Royal Dutch Shell announced in 2006 that its Shell ICP technology would realize a profit when crude oil prices are higher than $30 per barrel ($190/m), while some technologies at full-scale production assert profitability at oil prices even lower than $20 per barrel ($130/m). To increase the efficiency of oil shale retorting and by this the viability of the shale oil
Barrel (unit) to convince buyers that they were getting a fair volume for their money, and settled on the standard wine tierce which was two gallons larger than the standard whisky barrel. The "Weekly Register", an Oil City, Pennsylvania newspaper, stated on August 31, 1866 that "the oil producers have issued the following circular:" By 1872, the standard oil barrel was firmly established as 42 US gallons. The 42-gallon standard oil barrel was officially adopted by the Petroleum Producers Association in 1872 and by the U.S. Geological Survey and the U.S. Bureau of Mines in 1882. In modern times, many different types