Abstract:Shale oil boom in the United States has catapulted it from an importer of crude oil to a net exporter. Field applications show that both the shift in exploration paradigm from finding traps to targeting resource-rich petroleum source kitchens (i.e., "sweet spots") and the technological innovation represented by horizontal well multi-stage fracturing are among the key factors for the large-scale development of shale oil in the United States. Compared with marine shale oils in North America, China's lacustrine shale oil resources have great potential, but the endowment conditions are not optimal. Early exploration and development experience shows that the adaptive technology for lacustrine shale oil needs to be solved urgently. Under the continuous efforts of the petroleum industry and relevant scientific research institutions, China has achieved partial breakthroughs in the shale oil development and utilization, and more efforts are now on the way to make greater strike. Once the production potential and commercial productivity are realized, shale oil revolution will spread in China and change the domestic energy landscape. Several policy suggestions are made on the shale oil development and utilization in China, based on the global trend analysis and a comparative study of the geological and engineering characteristics of shale oils in China and the United States.