CIAO DATE: 08/2014
February 2013
Atlantic Council Board Director Odeh Aburdene says in this issue brief that thanks to hydraulic fracturing and deep water technology, oil and gas extracted from rock shale formations will increase dramatically in the next ten years in the United States, Brazil, Canada, Argentina, and South Africa. By the end of 2020, it is expected that the Western Hemisphere will import very little from the Middle East.
Arab oil producers will nonetheless continue to play a pivotal role in the world energy supply. Emerging markets are currently consuming 50 percent of the world energy, compared with 30 percent ten years ago. It is expected that world energy consumption in the next twenty years will increase by 30 percent.
Resource link: Shale Oil and Gas and the Middle East [PDF] - 365K