Journal of Turkish Weekly: How has the energy sector been affected by the new techniques in unconventional oil and gas production?

The development of unconventional oil and gas production has affected significantly the energy sector. Initially, the impact was most evident in US oil and gas markets. However, it is now becoming more evident in global markets for oil and gas, and in markets for coal and renewable energy. Perhaps most fundamentally, it has the potential to influence geopolitics.

Hydraulic fracturing, or fracking, is a process that has been used since the 1940’s to extract oil and gas in the US. It came into much greater use over the last decade in the US because new drilling technology (in particular horizontal drilling) has made reserves of oil and gas economically viable to develop.

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