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Latin American Economy & Business - July 2013 (ISSN 1741-7430)

Shale oil & gas: The next Latin American Revolution?

At an energy conference at Rice University in Houston last June, Chevron’s chief economist, Edgard Habib, asked a simple question. The answer could well be critical for Latin America over the next couple of decades. Habib highlighted the current North American boom in unconventional oil and gas. Countries like the US could become energy self-sufficient in the next few years. In fact, the International Energy Agency (IEA) has predicted that the US will become the world’s largest oil and gas producer by the end of this decade, overtaking both Saudi Arabia in oil and Russia in gas.

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