December 2014
Supplement
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The North American shale revolution has completely changed the visibility of oil and gas operations, throughout the world. Shale development is attractive for most countries, because it can increase domestic supply (with the potential for exports) and displace the use of coal or liquid hydrocarbons. The economic impact (job creation, capital expenditures, revenues to the state) provides positive benefits. Two of the most impressive benefits include the economic impact of low-cost natural gas on the economy, and the sharp decrease in greenhouse gas emissions, due to decreased reliance on coal-fired power plants.
