From: The Financial Post - Vladimir the Great by Lawrence Solomon (edited)
Until recently, the US was the world’s largest importer of natural gas.
It is now becoming a major natural gas exporter, thanks to new gas fracking technology that has unearthed vast new supplies.
The US remains the world’s largest importer of oil.
It may soon become an exporter of oil, thanks to oil fracking technology that could make the U.S. the world’s largest oil producer.
China, now a major importer of oil and gas, has the world’s second largest known potential for frackable hydrocarbons, which it is now developing.
Poland, Ukraine and Great Britain also have vast reserves of frackable hydrocarbons.
This will give Europe self sufficiency in energy.
Also, European countries on the Mediterranean have only begun to exploit the vast deposits of conventional oil and gas that lie beneath the sea bed.
These immense new sources of oil and gas would flood international markets as would major new finds of conventional oil and gas in Africa and South America.