By Houston Business Journal

The global oil shale market will be worth an estimated $12 billion in 2015, according to a new report by research firm MarketsandMarkets.

The report also predicts the compound annual growth rate in the oil shale market to average 7.7 percent between 2015 and 2030. Citing global shale oil resources of more than 2.8 trillion barrels, MarketsandMarkets believes high production costs have prevented many companies from entering the market but that new technologies and research may soon change that.

The full report is available for purchase here.

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