The Interstate Oil and Gas Compact Commission (IOGCC) has conducted a series of studies to evaluate the known, remaining oil resource in twenty-three (23) states. The primary objective of die IOGCC`s effort is to examine the potential impact of an aggressive and focused program of research, development, and demonstration (RD&D) and technology transfer on future oil recovery in the United States. As part of a larger effort by the IOGCC, this report focuses on the potential economic, social, and political benefits of improved oil recovery to the nation as a whole. Individual reports for major oil producing states have been separately published. The individual state reports include California, Illinois, Kansas, Louisiana, New Mexico, Oklahoma, Texas, and Wyoming. Overall, well abandonments and more stringent environmental regulations could limit economic access to the nation`s known, remaining oil resource. The high risk of near-term abandonment and the significant benefits of future application of improved oil recovery technoloy, clearly point to a need for more aggressive transfer of currently available technologies to domestic oil producers. Development and application of advanced oil recovery technologies could leave even greater benefits to the nation. A collaborative, focused RD&D effort, integrating the resources and expertise of industry, state and local governments, and the Federal government, is clearly warranted. With effective RD&D and a program of aggressive technology transfer to widely disseminate its results, domestic oil production could be maximized. The resulting increase and improvement in production rates, employment, operator profits, state and Federal tax revenues, energy security will benefit the nation as a whole.
