RELEASE EMBARGO DATE: April 28, 2015 at 9:00 AM
*I will assume that others will talk about the United States’ soon to be achieved oil and gas self-sufficiency, the potential impact of U.S. gas exports on international gas markets, and the consequences for relations with other gas exporting states.
– In shale gas, United States has re-asserted its primacy in technological innovation and in developing large capacities from such innovation.
– Through this achievement, it has inspired countries around the world to search for shale gas (often with excessively optimistic expectations).
– These developments have helped place U.S. oilfield service companies at the forefront of the global search for shale gas.
– And the U.S. government has formed shale gas technology partnerships with countries such as China.
– Taken together, the U.S. shale gas revolution has enhanced U.S. ‘soft power’. Other countries/governments want to emulate the United States, though they will find it difficult given that they have quite different institutional foundations for innovation and industrial development.
The views expressed herein do not necessarily reflect the views of the Asan Institute for Policy Studies.