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Challenges in the New Energy World

The international oil market has undergone a paradigm shift since the advent of cutting-edge technology used in the development of nonconventional shale oil in the United States.

Diane Munro
Challenges in the New Energy World
A drilling rig near Kennedy, Texas. (AP Photo/Eric Gay)

Executive Summary

The international oil market has undergone a paradigm shift since the advent of cutting-edge technology used in the development of nonconventional shale oil in the United States. The game-changing technology that holds the potential to increase both oil and gas supplies has effectively altered the industry’s trajectory from one of ever rising oil prices and growing supply scarcity to one more driven by advanced technology that will expand global supplies much further into the future.

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Diane Munro

has written on energy issues for over 35 years. She was previously a non-resident fellow at the Arab Gulf States Institute in Washington and is currently a contract editor for the Paris-based International Energy Agency, where she earlier served as a senior oil market analyst. 

The views represented herein are the author’s or speaker’s own and do not necessarily reflect the views of AGSIW, its staff, or its board of directors.

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