Publication

This article discusses the emergence of unconventional oil production in the US, how it is reducing US dependence on the Middle East, and the effects this will have on oil prices and global politics. The author also 1) highlights how declining global oil prices have shifted the balance of power in favor of consumer countries over the resources holders; 2) predicts that there will be significant changes in global trade patterns due to these developments; and 3) suggests that the increase in oil supply sources will likely keep oil prices low over the next decade.