1. New Energy, New Geopolitics
- Author:
- Maren Leed, Sarah O. Ladislaw, Jane Nakano, Molly A. Walton, Frank A. Verrastro, Michelle Melton, and Andrew Metrick
- Publication Date:
- 04-2014
- Content Type:
- Working Paper
- Institution:
- Center for Strategic and International Studies
- Abstract:
- In the last nine years, U.S. shale gas and tight oil production has skyrocketed. Between 2005 and 2014, U.S. production of crude oil and natural gas has risen by nearly 65 and 34 percent, respectively, due to tight oil and shale gas development. The shale gas supplies from Pennsylvania alone equal the entire natural gas export capacity of Qatar, the world's second largest natural gas exporter in 2012. And the increase from light tight oil production in places like North Dakota and Texas over the last five years is equivalent to Iraq's current production levels. These increased energy supplies have fed not only national but global markets, helping to offset other market disruptions and stabilize prices, to the benefit of many.
- Topic:
- Climate Change, Energy Policy, and Markets
- Political Geography:
- United States, Iraq, and North America