Abstract
Natural gas and crude oil production in the United States has grown significantly in recent years as improvements in horizontal drilling and hydraulic fracturing technologies have made it commercially viable to recover gas trapped in tight formations, such as shale and coal. The United States is now the number one natural gas producer in the world and, together with Canada, accounts for more than 25% of global natural gas production. Shale gas will play an ever-increasing role in this resource base and economic outlook of the United States. Furthermore, production of natural gas and crude oil is projected to increase over the next two decades, highlighting the significance of natural gas from shale formations and from tight formations in the future energy mix in the United States and other countries.
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