In a few years, hydraulic fracturing, the oil and natural gas extraction technology, has transformed America into the world’s largest natural gas producer. While the U.S. has reaped economic and security benefits from the shale revolution, what impact has it had on the rest of the world?
Has the rapid plunge in world oil prices jeopardized America’s prospects for becoming a swing producer, saving room for OPEC to regain its influence in world markets? Can countries in Europe and Asia take advantage of shale technology to ensure their own energy security?
On March 22, Hudson Institute hosted a conference examining how U.S. oil and natural gas exports have reshaped the balance of global energy power. Congressman Mike Pompeo of Kansas, a senior member of the House Committee on Energy and Commerce, discussed the geopolitics of energy and the outlook on Capitol Hill for expanding American global energy leadership through hydraulic fracturing. Manhattan Institute Senior Fellow Mark P. Mills keynoted the conference, and four distinguished panels of experts addressed the impact of the American shale revolution in different world regions.