The Domino Effect: How the Shale Revolution Is Transforming Energy Markets, Industries and Economies
October 3, 2017
Because of the U.S.’ long history as an oil importer, its economy has suffered for many years due to oil price hikes stemming from oil supply shocks. The “shale revolution” promoted enormous oil and gas production and its development has increased the production of oil and natural gas resources abundantly in the U.S. The discovery of domestic energy resources has reduced U.S. dependence on imported energy and has made the U.S. an export country. Taking into consideration the latest developments, the U.S., which has begun to export energy resources, is expected to cause major changes in global energy markets.