Shale Gas: Global game changer

By Dallas Parker, Penn Energy Mayer Brown

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Ten years ago, few crystal balls foresaw the lightning impact and development of shale gas on the world’s energy scene. In the last 10 years – during which shale gas became commercial in the US – its use has grown from near zero to about 20% of the already enormous US gas stream. Booked shale gas reserves, at present rates of production, may still be onstream 100 years into the future, a figure that will increase if gas begins to approach oil on a price parity basis. Many likely changes will result from shale gas development. But the most important ones reflect the economic impact of shale gas on global politics and today’s energy producers.