Oil Economy Focus Rapid Review
According to Samantha Gross, Fellow, Cross-Brookings Initiative on Energy and Climate, the renaissance in US oil and gas production has been remarkable. Advances in technology have brought entirely new sources of supply, and the boom in production has brought economic benefits, improving the balance of trade and industrial competitiveness. Gross adds that growing US oil production has changed the balance of power in oil markets and considers that the US has become an indispensable source of oil and gas supply. The term “energy dominance”, however, she considers somewhat misleading: to her, “dominance” implies an ability to move markets.
LINK TO THE SOURCE ARTICLE: Geopolitical implications of US oil and gas in the global markets
