Declining supply of worldwide petroleum and the change of preference of consumers towards cleaner source of energy has brought light to researchers, engineers and investors to look back at one of the oldest source of energy which is the oil shale.The focus of the study is on extracting underground oil shale. This study is an overview of the technologies for extracting underground oil shale and the problems that is associated with it. This study will include the latest literature review on the current prospect of underground mining and in situ extraction of oil shale. With underground mining, although the profit return seem satifactory, but with the adverse effect to the environment, another alternatives should be seek. In situ recovery seems promising but it still under its experimental stage and need to be further research to decrease the level of its unpredictability and unknowns so that it can be reliable enough to initiate a commercial plan.The oil shale industry has its ups and down for decades and can be positioned at its primary stage. Sooner or later, this source of energy will be needed when the existing crude oil is depleted so initial effort to encourage the growth of this industry is needed. This study is directed to shift the paradigm so that the oil shale industry can return to its former glory.