The increasing shale production in the US is leading to an economic revival of the country but, as critics say, also endangers the water supply, entrenches fossil fuel dependence, and generates ground tremors. However, also much wider impact than this can be seen due to increased shale gas production. The leverage on the gas supply that Russia has with Gazprom, for example, would be weakened, when Bulgaria, Lithuania, Poland, Romania and Ukraine, who all have large shale reserves, start developing them.
In terms of global market share the US is the world’s largest natural gas producer. It is said their daily productionwill soon eclipse that of Saudi Arabia. The added US shale production has prevented the UN sanction on Iran from forcing price spikes, even Iran’s crude oil exports have fallen by about a half since the sanctions began.
- The shale revolution’s impact abroad,
The Hill’s Congress Blog 2013 – 08/07/13 08:00 AM ET