Reflection's from the frontline of US shale gas

Journal article

The US shale gas phenomenon has captured the global energy audience with a vigour that few would have predicted just five years ago. An abundance of cliches and tabloid-style banners have been written by consultants, banks, journalists and companies alike, with headlines ranging from the climatic ‘Shale Gale’ to the nationalistic ‘In Shale We Trust’ and the painfully ebullient ‘One Shale of a Good Time’. Leaving headlines aside, there is indeed something significant occurring within the US energy industry, which may have global consequences. Is this a new paradigm? Absolutely. As Tony Hayward, BP’s CEO, said recently at Davos ‘Unconventional gas will transform the entire energy production landscape in the United States… and alters the U.S. energy outlook for probably a hundred years.’ The consequences and effects of shale gas are still in the early stages and a Klondike feeling is still prevalent here in the USA. The spillover of the shale gas paradigm goes further than just redrawing supply and demand curves; it will also affect policy issues, the regulatory and competitive environment and importantly climate issues with global consequences. In this article, the author reports from the frontline of the shale gas revolution, covering a concise history of shale plays, the competitor environment, the gas supply paradigm, the view from Capitol Hill and offers some final thoughts on the future direction of the industry.

Authors: Bull, S

• Publication status: Published
• Peer review status: Peer reviewed
• Publisher: Oxford Institute for Energy Studies
• Journal: Oxford Energy Forum
• Volume: 81
• Pages: 13-16
• Publication date: 2010-05-01
• Edition: Publisher's version
• ISSN: 0959-7727
• Language: English
• Keywords: OIES