Deutsche Welle | Jo Harper
The U.S. is emerging as the world’s natural gas powerhouse as U.S. gas production continues growing at an astounding rate.
Energy experts predicted in 2005 that the US would be forced to import 25 percent of its gas within the coming decade. The country’s subsequent shale gas revolution blew that notion out of the water. Today the US is in fact a net gas exporter and could be standing on the brink of a major recalibration of global energy markets. “What seemed impossible a few years ago is now true: The US is now competing with the Middle East in the global gas export market,” Jack Belcher, Executive Vice President of HBW Resources, told Deutsche Welle. The US Energy Information Administration projects US gas production to grow at nearly twice the rate of domestic demand over the next decade, leaving a huge surplus for export.