The U.S. Coming to Dominate the Globalizing Natural Gas Market

Since the U.S. shale revolution took flight in 2008, natural gas production has soared 60% to nearly 90 Bcf/d. Even though demand has risen 30% to over 80 Bcf/d, our gas imports have plummeted 30% to below 8 Bcf/d, basically all of which gets piped in from friend Canada. This has helped greatly increase U.S. gas security, essential since natural gas is now increasingly our go-to fuel for electricity. In fact, we now account for 22% of total global gas production and yield 25% more gas than 2nd place Russia. This boom in domestic gas production has given American families and businesses some of the lowest prices in the world. This is important because many of our international competitors are relentlessly (and unfairly) supported by governments, which is clearly a detriment to the fair market. The U.S. Department of Energy forecasts that domestic production will continue to increase non-stop 1-2% per year for as far out as it models through 2050. Forbes