Oil and gas is 'more abundant than previously thought'

By 2015 almost two-thirds of the world's new oil and gas will come from unconventional sources, a report has revealed.

The study released by the National Petroleum Council, claims that oil and gas are more abundant than previously thought, with the possibility that there is enough oil and gas from unconventional resources in North America alone to satisfy demand for 100 years.

It also claimed that the US and Canada together produce four per cent more oil than Russia, the world's largest producer.

"Realising the potential of oil, like natural gas, in the future will depend on putting in place appropriate access regimes that can allow sustained exploration and development activity to take place in resource-rich areas," the report claimed.

Much of the supply of gas is thought to come from shale gas which has been a controversial issue in the US.

One group of people claim that fracking close to their homes has caused the water from their taps to become flammable.