A new report from the International Energy Agency (IEA) offers a fascinating if weighty glimpse of the revolution in the oil and gas industry, where hydraulic fracking and horizontal drilling are unlocking new reserves.
In a press release promoting the report, “Medium-Term OilMarket Report(MTOMR),” IEA’s Executive Director Maria van der Hoeven, said, “North America has set off a supply shock that is sending ripples throughout the world. The good news is that this is helping to ease a market that was relatively tight for several years. The technology that unlocked the bonanza in places like North Dakota can and will be applied elsewhere, potentially leading to a broad reassessment of reserves. But as companies rethink their strategies, and as emerging economies become the leading players in the refining and demand sectors, not everyone will be a winner.”
You can read the free 11-page overview of the report by clicking here or pay approximately $308 for a PDF of the full 141-page report by clicking here.
The cover story in Electrical Wholesaling’s May explores this trend in depth. Click here to access the digital version of this issue and read this article.