Red Leaf Deal Raises US Oil Shale Hopes

Total has signed a joint venture with US oil shale specialist Red Leaf Resources. Red Leaf has developed a new means of extracting hydrocarbons from source rocks such as Kerogen using a process known as 'EcoShale In-Capsule Technology'. If it proves commercially viable then it could unlock vast oil and gas reserves in the US and worldwide. Optimism should be tempered with caution, however, as similar efforts by the likes of Royal Dutch Shell, ExxonMobil and Chevron have thus far proved ineffective. A great deal more investment is likely to be required before a clear understanding of EcoShale's potential becomes apparent.

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