Skip to 0 minutes and 15 secondsThe shale gas revolution and the light tight oil revolution in the United States is putting pressure on traditional suppliers and affecting the strategies, the position and the role of Russia and the OPEC countries. Will exports of US LNG and tight oil result in the end of monopoly positions of the OPEC and Russia?
Skip to 0 minutes and 37 secondsThe goals of the fourth lecture is to study: The energy strategy of the OPEC, The geopolitical impact of potential exports of US LNG and tight oil, The energy strategy of Russia Let’s began to examine these question.
The impact of shale revolution on geopolitics
Shale substantially enhanced US global economic competitiveness and US foreign policy leverage globally. US LNG exports could greatly benefit consumers worldwide would bolster the US “rebalance” to Asia.
Growing US oil production will diminish OPEC’s role in determining prices as a swing producer. The shift from the Persian Gulf to the Western Hemisphere as the hub of oil and gas production would reduce US imports from the Middle East, but rising US oil production does not alone justify a change in the US’s relationship with the Middle East.
The rise of emerging market demand for fossil fuels, especially in Asia, is arguably the more geopolitically significant energy development. Over the long-term, the greatest national security challenge posed by energy is climate change.
- International Security Advisory Board, “Energy Geopolitics: Challenges and Opportunities,” July 2014.
© Younkyoo Kim, Hanyang University