Antarctica and the Arctic are the focus of global hunger for untapped resources – and global warming has helped drive the polar rush.
The US shale gas and oil revolution has shown that hydrocarbons are almost everywhere, Grealy writes, and we no longer need to go to the ends of the earth or spend or spend a ton of capital to find them. The new energy paradigm is a world where the most attractive projects are those closest to markets.
Shale oil is poised to go international, Grealy writes. It’s already happening in Argentina, Australia and China, but the big prize is in Russia’s Bazhenov shale in Western Siberia.