Daniel Yergin on U.S. Oil’s Global Impact

19 Jun 2017   Shale Oil, USA

Daniel Yergin says the boom in shale in concentrated areas like the Permian Basin, Texas and New Mexico is changing the global energy position of the U.S. “You go to Asia. You go to Europe. You go to the Middle East. They realize the position of the U.S. in the world is different today because of this change in our energy position. Among other things, the sanctions on Iran would not have worked had it not been for shale, because you could not have replaced the Iranian oil that was taken off the market. And so now instead of just OPEC and non-OPEC, you have the big three. You have Saudi Arabia, you have Russia, and you have a country called the United States.” — Daniel Yergin, vice chairman, IHS Markit

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