Abstract
AbstractIn 2000, shale gas was 1% of domestic gas production in the United States. In 2013, it had risen to 32% and it is expected to account for half of total US domestic gas supply in two decades from now. The US who is the second largest energy consumer in the world after China has seen a decline in her net import of energy since 2007.In Europe, a recent report in the UK suggests that Shale gas in Northern England could meet Britain's gas need for 40 years.Though lagging behind shale gas, shale oil development has already begun in some countries.With the abundance of shale oil and gas around the world and the increasing interest in their development, this paper intends to look at the fast changing trend in the energy mix and hypothesize the effects on energy prices, energy demands and energy politics in different regions and across the world.
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