The U.S. shale oil and gas boom that began early this century had enormous geopolitical implications. Without it, the U.S. would have become increasingly dependent upon imports to meet energy needs, and prices would have undoubtedly been higher. In fact, in the years leading up to the shale revolution, natural gas prices spiked, and oil prices rose above $100 a barrel. But the ensuing surge of oil and natural gas production in the U.S. would subsequently turn the U.S. into the world’s largest oil and gas producer. This weakened OPEC’s…
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