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Oil

US shale boom: a diplomatic game-changer

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Listen: US shale boom: a diplomatic game-changer

Just like the world's petrostates, Platts senior editors Brian Scheid and Herman Wang are feeling the pinch from lower oil prices brought on by the US shale boom. While Brian and Herman bemoan the cutbacks they've been forced to make and fret about their loss of clout, they examine how the surge in US oil and gas production has likewise put pressure on countries like Iran and Russia, as US diplomats are able to go into negotiations with greater leverage.

Secretary of State John Kerry, in a recent forum, called the shale revolution a "game changer" in global diplomacy, and David Goldwyn, the State Department's former top energy diplomat from 2009 to 2011, helps explain on Capitol Crude how the US' newfound energy wealth has forced its adversaries to make tough choices between guns and butter. Bob McNally, a former energy adviser to President George W. Bush, also joins the show to discuss how the potential lifting of the US' restrictions on crude exports could further strengthen the US' diplomatic clout.

Check back every Monday for the latest analysis of US oil policy news from leading Platts editors covering the Capitol. E-mail the editors at brian.scheid@platts.com and herman.wang@platts.com.


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