Shale Energy Puts U.S on Path of Becoming Leader in Global Oil & Gas Markets

On Tuesday, November 14, the International Energy Agency (IEA) released new data predicting a dramatic increase in shale production over the next decade that will reshape the United States into the “world’s largest exporter of liquefied natural gas by the mid-2020s”.

The U.S. will export more oil than it imports by 2030 or earlier, the report said. It was only recent in 2015 when the U.S. lifted its ban on oil exports.

“The dramatic shifts envisioned by the IEA in its World Energy Outlook would transform the U.S. from an energy importer into a major player in global markets capable of producing 30 million barrels of oil and gas a day by 2025.” – CNN Money

The U.S. surpassed Russia in 2011 to become the world’s top producer of oil and gas. Today, the U.S. produces roughly 24 million barrels daily.

The landmark prediction would put the United States far ahead of competing nations. The real reason for the boom? Shale energy.

“A remarkable ability to unlock new resources cost-effectively pushes combined United States oil and gas output to a level 50% higher than any other country has ever managed,” the IEA said on Tuesday regarding Shale energy.

Many have expressed admiration for new and highly-efficient practices in the Shale Energy industry. Born of necessity during the collapse that sent crude prices from $100 a barrel in 2014 to a low of $26 in 2016, the Shale Energy industry has emerged stronger than ever and poised to send the United States into historically high energy output.

“The U.S. [Shale] Oil industry avoided the blow by morphing into a leaner, more agile version of its former self; it has since proved remarkably resilient to lower prices,” the IEA said.