September 18, 2016

Challenges in the New Energy World

A drilling rig near Kennedy, Texas. (AP Photo/Eric Gay)

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.