Early last year (IC, 29 April 2011), we highlighted that "the prospect of future energy deficits" was spurring global energy heavyweights like Royal Dutch Shell and Exxon Mobil "to invest heavily in technologies that could profoundly alter the global energy map". What we didn't fully appreciate at the time was how rapidly the oil and gas industry was being transformed, particularly in the US through the development of the shale oil industry. But the latest edition of the World Energy Outlook from the International Energy Agency (IEA) makes it plain that the global energy landscape is being altered in ways that would have seemed inconceivable even at the turn of the millennium.
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