Investopedia explains 'Shale'
For many years, the oil that was trapped in shale formations could not be extracted profitably. But modern technology now permits this type of extraction on a large scale, which has opened up huge deposits of previously unreachable reserves for oil companies. As oil prices rise, it can become cost effective for companies to retreive hydrocarbons from oil shale. Shale also has commercial value in the ceramics industry.
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