The Economics of Shale Trounces Conventional Oil

Whether it comes from Alaska’s ANWR or the sands of the Persian Gulf, conventional petroleum is still the “baseload source” of the world’s energy supply.  However, shale oil and gas, especially from North America, has become the crucial swing supply that determines global energy prices.  What characteristics make shale uniquely qualified to fulfill that role?  Are these characteristics sustainable?  And how will the shale industry impact energy markets and geopolitics in the coming decades?  We’ll explain.