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IEA: Shale Boom Has a 10-Year Life Span

The current shale boom in the U.S. “is temporary, and not easy to replicate in other parts of the world, Maria van der Hoeven, chief executive of the Paris-based International Energy Agency (IEA), says in a Feb. 22 interview with The Christian Science Monitor.”

According to IEA analysis, the current growth will “plateau, and then flatten and go down. That means that from 2025 onward, it’s again Saudi Arabia and the Gulf states that will come back. Because of the changing trade map, this oil will almost completely go to Asia – China, India, Korea and Japan.”

The conditions here are difficult to replicate, van der Hoeven says, because “land ownership and the resource ownership go together here in the United States – the only country where that is the case. It’s also about having the right gas industry, the right knowledge, the right infrastructure, the water, the human skills, the geological information, etc. And geology in this part of the world, especially where the shale gas boom is, is quite different from Ukraine or Poland.”

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