After spending years searching for enough crude to pump, the U.S. oil and natural gas industry now is struggling to find and pay for enough skilled workers to tap the abundant supply in shale rock, putting $100 billion in planned petrochemical projects at risk.
The likelihood of Republicans gaining control of the U.S. House of Representatives means more focus on creating jobs than reducing carbon emissions, said Daniel Yergin , Pulitzer-winning author of oil-industry history “The Prize.”
Global energy demand will climb 30 to 40 percent in the next 20 years, spurred by rising incomes in emerging markets and global economic growth, said Daniel Yergin , chairman of IHS-Cambridge Energy Research Associates.
“We are finally poised to control our own energy future,” said President Barack Obama in his State of the Union message, noting the drastic increase in American energy production from unconventional oil and gas resources.
The BP Plc oil well that’s spilling thousands of barrels of crude a day into the Gulf of Mexico may delay plans for domestic offshore drilling, according to Daniel Yergin, chairman of IHS-Cambridge Energy Research Associates.