An Australian company claims it has found an untapped shale oil field with estimated reserves that could potentially put the country next to remarkably oil-rich Saudi Arabia. Still, extracting the discovered treasure poses a huge technical challenge. ­Brisbane-based company Linc Energy has presented two estimates by respected independent consultants claiming that drilling and seismic exploration... 

The U.S. Department of Energy recently released a message stating that in 2012 oil production in the country will increase by seven percent. America is opening up its resources and reviewing its energy policy, experts say. If the production of crude oil and other liquid hydrocarbons continues to grow at the same pace, in a couple of years the United States will catch up to the indicators of Saudi...