First of all, check out this link that will take you to some cool videos shot at the NFPA Annual Conference AC14 last week in Florida. You might even see me there.
What do you know about the impact of shale gas and oil? I guess that before listening to a presentation from Peter Zeihan titled Powers of Yesterday, Powers of Tomorrow, I really didn't know that much. Here is a link to a summary.
Peter referred to a system of trade that has been in place since the end of WWII called Bretton Woods after a very important conference held around that time to decide how trade will be done. It involves free trade, U.S. market access, shipping, and more.
That is changing and it appears that energy sources found in the shale in the U.S. Midwest is part of that change. Fracking, which includes hydraulics, has leveled energy prices because a 150-year supply of natural gas has been located. The U.S. is now the largest producer of gas and oil for energy.
This changes the patterns and balances of trade, especially as it involves energy. It changes our dependency on foreign oil and the shipping of it. These were matters that were discussed and laid out at Bretton Woods.
There are mixed feelings surrounding how that energy is extracted and most of that controversy surrounds the hydraulic fracturing or fracking that is used. This source is so abundant that the U.S. is shutting down gas production in the Gulf.
Peter gave quite an interesting and informative talk.