Wednesday 24 October 2018

Shale Oil & Gas as an Alternative Source of Energy Management Strategy in Modern Industrial Development (MAOPS)- Lupine Publishers

Shale oil & gas is rapidly emerging as a significant and relatively low cost new unconventional resource in the world. There is potential for shale oil & gas production to spread globally over the next couple of decades. If it does, it would revolutionise global energy markets, providing greater long term energy security at lower cost for many countries. It is analysed that global shale oil & gas production has the potential to reach up to 14 million barrels of oil per day by 2035, this amounts to 12% of the world’s total oil supply. It is estimated that this increase could reduce oil prices in 2035 by around 25%-40% relative to the current baseline EIA projection of $133/barrel in 2035, which assumes low levels of shale oil & gas production. In turn, it could increase the level of global GDP in 2035 by around 2.3%- 3.7%. However, the benefits of such oil & gas price reductions will vary significantly by country. Large net oil importers such as India and Japan might see their GDP boosted by around 4%-7% by 2035, while, China, the Euro zone and the UK might gain by 2%-5% of GDP. Conversely, major oil exporters such as Russia and the Middle East could see a significant worsening of their trade balances by around 4%-10% of GDP in the long run if they fail to develop their own shale oil resources.

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