Economics
Shale Hoard Behind U.S. Energy Renaissance Set Loose on Globe
- First exports unleash supplies from once-insular U.S. market
- Tankers to haul shale oil, liquid gas from Texas, Louisiana
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The worst fears of OPEC and Asian gas exporters are about to come true.
U.S. shale drillers who pushed domestic crude production to a 45-year high and unlocked record amounts of natural gas are letting those supplies loose into global markets they were absent from for decades. The tanker of shale oil that shoved off from a Texas port on New Year’s Eve and a shipment of liquefied natural gas that’s prepared to set sail later this month will inaugurate a new era of competition among the world’s largest energy producers.