EPCA 2015: Energy has entered 'the shale era' with big benefits for petrochemicals

摘要

The advent of shale gas and oil in North America has hugely benefitted the world economy, in terms of energy supply and costs, says IHS vice chairman Daniel Yergin. In a keynote address Monday to the European Petrochemical Association's (EPCA) 49th annual meeting, taking place in Berlin, Yergin said that "the energy position of the globe looks much better" than it did only a few years ago. The emergence of shale has helped trigger the collapse in oil prices since mid-2014, and this has also improved the feedstock position of the worldwide petrochemical industry. The oil price currently appears impervious to the many geopolitical dangers around the world, but this could change very quickly, Yergin says.