10/15/2013

Shale oil from the U.S. has resulted in lower prices and a more stabilized global oil market, writes James Clad, former U.S. deputy assistant secretary of defense for Asia Pacific Affairs. Gains from the shale production boom should prompt efforts to ensure "the continued growth of oil and gas extraction from U.S. shale production," Clad writes. "Its place as price stabilizer, in the midst of supply uncertainty and political volatility, deserves more recognition" since it "has critical importance both to America's own recovery and to global economic prospects," Clad concludes.

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