Shale gas

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Chapter 11 in Energy Innovation for the Twenty-First Century, 2019, pp 322-358 from Edward Elgar Publishing

Abstract: This chapter covers the shale gas revolution in the United States. It notes that there was a discernible breakthrough point for hydraulic fracturing, but it built on decades of innovation and know-how in the oil and gas sector. Following the breakthrough, oilfield service companies engaged in incremental but rapid innovation that increased productivity and drove down costs. This helped shale gas to transform United States energy markets in a short time. The rapid development of shale gas was facilitated by a conducive regulatory environment which prioritised sub-surface mineral rights coupled with weak environmental regulation. Public research and development support played some role in the very early days of shale development, but support was largely withdrawn by the time of the breakthrough which was mainly driven by the private sector.

Keywords: Economics and Finance; Environment; Innovations and Technology (search for similar items in EconPapers)
Date: 2019
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