Posted January 9, 2014
The Global Impact of U.S. Shale
Project Syndicate (Daniel Yergin): WASHINGTON, DC – The biggest innovation in energy so far this century has been the development of shale gas and the associated resource known as “tight oil.” Shale energy ranks at the top not only because of its abundance in the United States, but also because of its profound global impact – as events in 2014 will continue to demonstrate.
America’s shale gas and tight oil are already changing global energy markets and reducing both Europe’s competitiveness vis-à-vis the US and China’s overall manufacturing competitiveness. They are also bringing shifts in global politics. Indeed, how shale energy may change America’s role in the Middle East is becoming a hot topic in Washington, DC, and in the Middle East itself.
This “unconventional revolution” in oil and gas did not come quickly. Hydraulic fracturing – known as “fracking” – has been around since 1947, and initial efforts to adapt it to dense shale began in Texas in the early 1980’s. But it was not until the late 1990’s and early 2000’s that the specific type of fracturing for shale, combined with horizontal drilling, was perfected. And it was not until 2008 that its impact on the US energy supply became notable.
Read more: http://bit.ly/1bW6bHW
More industry news:
- Another Energy Milestone Thanks to Fracking – U.S. the World’s Largest Petroleum Producer in September for the 11th Straight Month: http://bit.ly/1cGQZlr
- Chart of the Day: The Billions Going into Natural Gas: http://cnb.cx/1imGnui
- The Future of Shale Gas is Bright in the U.S. http://bit.ly/JKZ8eW
- U.S. To Achieve Energy Self-Sufficiency by 2020 Exxon Mobil CEO Says: http://cnb.cx/1aKKsTv
- Thanks to Fracking, Natural Gas Supplies (Barely) Withstand ‘Polar Vortex’ Assault: http://onforb.es/1e8Vy9q
ABOUT THE AUTHOR
Mary Schaper is a Digital Communications Manager for the American Petroleum Institute. She previously worked on Capitol Hill for the Senate Energy and Natural Resources Committee as Digital Director and for Senator Lisa Murkowski. Before coming to D.C., she spearheaded digital strategy for Murkowski's successful Senate write-in campaign in 2010. Schaper enjoys traveling and taking in the local culture alongside her husband, their son and loyal springer spaniel.