IEA’s Chief Economist: U.S. Nat Gas Industry a Global Game-Changer
The boom in unconventional gas production in the United States is an international game-changer that will have far-reaching implications to global supply and prices. At least that’s the word — and an intriguing one at that — from the International Energy Agency in its highly anticipated 2009 World Energy Outlook. Massive amounts of information are contained within the Paris-based agency’s World Energy Outlook report, which was released Tuesday, and provides guidance to 28 member countries. But IEA chief economist Fatih Birol’s comments on the U.S. unconventional gas industry, its impact on global supply, spot prices and liquefied natural gas exports as well as the role in fighting global warming were particularly interesting. Here’s how Birol explains it. Gas exporting nations ramped up their investment in…
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