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Understanding the phenomenon of shale gas revolution - Research Paper Example

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Increase of gas from the shale revolution could mean decreased energy prices and since the gas can substitute oil, subsequently the price of oil will go down. For…
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Understanding the phenomenon of shale gas revolution
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Download file to see previous pages The cost of gas is projected to go down as there is surplus production. The future of the revolution depends on proper policies to solve any crisis and bringing balance in regard to energy prices that will be suitable for both the countries experiencing the revolution and the major oil and gas producers.
In the recent past, the energy sector has witnessed some technological advancement aimed at resolving the global energy crisis. Research beyond the current crude oil reserves has led to significant discoveries such as shale oil deposits that have added to the annual increase in production of oil and gas. These developments are thought to play a significant role in the global oil markets and energy at large. The technology is prevalent in the North American continent that is United States and Canada, who are exploiting the venture in large scale. Shale gas is said to be one of the greatest energy revolutions of all time.
Although the technology is in its infancy stages in America, implications both political and economic go beyond its borders. Adversaries and allies of the United States will experience different effects due to the diversity of ways through which the technology will influence international energy markets and politics. Although there are a lot of uncertainties regarding the global energy markets, shale technology offers a great deal of ways that will enable America take advantages in the geopolitical sphere.
The promise and potential of shale gas production are relatively high with the ability to impact substantially on the market economy. Shale gas presents a cheaper source of non-renewable energy that is environment-friendly, and most plants are substituting coal for it. However, the potentiality of shale technology depends on the primary producers that are Canada and the United States who are currently the supply hub. The ...Download file to see next pagesRead More
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