How America's Shale Strategy Is Powering a New Middle East Energy Boom [Yahoo! Finance]
BP p.l.c. (BP)
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Source: Yahoo! Finance
biggest importers of both into one of its leading exporters of both. But it did much more than this: it reversed the balance of energy power in the world from where it had been left at the end of the 1973 Oil Crisis. As forecasts for the demand for gas continue to surge on fears of further global conflicts and on the dramatic expansion of data centres around the globe, the Middle East is looking to expand its own gas production, particularly with a view to developing its own shale resources. The U.S., in this context, is seen by these countries – most notably Saudi Arabia and the United Arab Emirates (UAE) – not as a future competitor but as a key knowledge resource, which is a status Washington is happy to adopt. After all, becoming an integral part of any country's energy production on the ground is as good a way as any – and a lot better than most – to keep those relationships running to the U.S.'s best advantage. It is interesting to note at this point the circularity of history
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