I could have buried this in one of the many existing threads on Fracking, but it deserves it's own look.
The article touches on the effects of increased U.S. natural gas production in far-flung parts of the world including the Middle East, China, Russia, Venezuela, etc. U.S. Shale Boom Reduces Russian Influence Over European Gas Market The U.S. shale gas boom has not only virtually eliminated the need for U.S. liquefied natural gas (LNG) imports for at least two decades, but significantly reduced Russia’s influence over the European natural gas market and "diminished the petro-power" of major gas producers in the Middle East and Venezuela. And here's the kicker
- Obama's proposed tax policies are directed at bringing the American oil and natural gas industries to it's knees: Changes to U.S. tax policy for upstream oil and gas, including proposed changes to expensing rules, investment credits, and/or royalty rates, could also make shale exploration and production unprofitable at current prices.