The new energy economy has investors looking at oil shales which produce synthetic crude oil from the kerogen found in organic sedimentary rock.
Oil shale mining and processing can be found in Brazil, Germany, Israel and China. Environmentalist are concerned about the effect it will have on the air pollution as well as waste disposal and land use.
Shale oil extraction requires removing the material from above and underground. The chemical process of pyrolysis to convert the kerogen in the shale to oil is where the concerns of green house gas emissions comes from.
Because the processing and production costs are high many are determining if it will be economically feasible compared to the price of conventional oil. It looks as if the Bakken shale has more promise due to it being rich in natural gas.
Investors have the option of penny-stocks or ETF which are exchange traded funds on the stock exchange. As you search on the internet you will see a number of publicly traded oil and gas companies who are using drilling rigs in the Bakken region to discover more oil properties.
Some of the companies that are doing exploration and production for shale oil extraction are:
1. Concho Resources Inc. - they are an independent company providing acquisition, development and exploration of oil and natural gas properties in the Permian Basin of Southeast New Mexico and West Texas.
2. Abraxas Petroleum Corporation. - an independent energy company that provides acquisition, development, exploration, and production of oil and gas in the Rocky Mountain, Mid-Continent, Permian Basin, and the province of Alberta, Canada.
3. EOG Resources Inc. - provides exploration, development, production, and marketing of natural gas, crude oil in U.S., Canada, the Republic of Trinidad, Tobago, United Kingdom, and China.
4. Continental Resources Inc.- independent oil and gas exploration and production company who searches for oil and natural gas assets beneath the North American continent, in the Rocky Mountain, Mid-Continent, and Gulf Coast regions.
5. Whiting Oil and Gas Inc. - provides the acquisition, exploitation, exploration, and production of oil and natural gas in the Gulf Coast/Permian Basin, Rocky Mountains, Michigan, the United States, and in Mountrail County, North Dakota.
6. Marathon Oil Corporation. - company explores for oil and gas in Angola, Canada, Equatorial Guinea, Libya, Norway, Indonesia, the UK, and the US.
Those who want to set up their investment portfolios can see the varying asset prices which can lead to major risks and potential of earning a profit. Other options are niche funds similar to the Stock Fund that will invest in the publicly traded companies along with those who drill in the Bakken Shale Formation.
Source: read more about the oil, gas and consumables fuel industry at Bloomberg Businessweek
Disclaimer: This is for informational purposes only and is not meant to give investment advice, it is recommended that you consult an investment broker before you put your money into any stocks.