Rapidly expanding production of oil and natural gas from shales in the US, Canada and Mexico have the potential to allow the continent to declare virtual “energy independence” and thereby alter the global politics of energy, CME Group Managing Director and Chief Economist Blu Putnam told Breaking Energy in this video interview.
This interview is the final in a series of four, for the earlier videos on the economic outlook, handling big data and the outlook for energy infrastructure, click here.
While the US will still be part of a global puzzle, a shift is underway in energy markets that moves away from the broadly rising prices characteristic of the much-discussed “commodities supercyle” driven by emerging markets economic growth. The next ten years will be about “narrowing the energy content price gap” and being sure that markets and infrastructure reflect the new economics.
Discuss Blu’s forecast on Breaking Energy here.