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.”
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.