What once seemed impossible, is not only possible, but economical. What I am referring to the impact of the technological innovation that has helped spawn an energy revolution in the United States in unconventional shale oil and gas production.
Government regulations are being re-examined, import terminals are being converted for export, and US oil companies are selling assets abroad and looking in their own backyards.
Although the debate is continuing over the long-term viability of shale oil and gas production, the implication that this revolution will not be confined to the marketplace is relatively certain. As the world’s foremost consumer of energy, drastic changes in the way America acquires its energy will undoubtedly change its posture and policies in the world.