The Global Shale Race Is Officially On

The United States has become the oil and gas supplier of last resort for many importers amid the Middle East crisis. The reason it could become the supplier of last resort was shale, so the question naturally arises whether the U.S. shale revolution could be repeated in other parts of the world. Unfortunately, the answer is “Not likely.” Wood Mackenzie recently reported on the main advantages of the U.S. shale oil and gas industry and why it would be difficult to replicate its success in other jurisdictions. Among these advantages,…