The Natural Gas Revolution: At the Pivot of the World's Energy Future.

• Author: Strom, Steinar

The Natural Gas Revolution: At the Pivot of the World's Energy Future, by ROBERT W. KOLB. (Pearson, 2014) 304 pages, ISBN 13: 9780133353518 and ISBN 10: 0133353516, Hardcover.

Robert Kolb has written a very readable book. It contains an overwhelming amount of information about the world energy market; the current status of energy reserves, production, hydraulic fracturing, horizontal drilling and use of all kinds of energy, future trends, but also the history of the energy market.

The most interesting parts deal with the shale gas revolution, in particular in the United States. This revolution, together with the shale oil revolution, could mean that "the United States stands on the brink of achieving the holy grail of energy independence." If this is going to happen, even in the near future, we may soon see major changes in geopolitics and in energy prices.

The Middle East and the Persian Gulf will become less important, in particular to the United States. However, the Middle East will still be one of the most important energy regions in the world. Historically we associate the Middle East with oil exports, but recently the region has also been a world leader in the export of gas (LNG). According to Kolb, Qatar is now the world leader in the export of LNG. The sudden rise in Qatar's exports over the last ten years is due to financing from Japan, which now is the principal customer of natural gas from Qatar.

The shale gas and shale oil revolution, now taking place in the United States, may reduce energy prices and change the mix of energy consumption in the United States, but also elsewhere. If other regions start producing shale gas on a large scale, Kolb points to China as the region with the largest potential, the world energy market will soon no longer be what it used to be.

For a European reader like me it is interesting to read what Kolb says about the United States and Europe: "the environmentally heedless, hydrocarbon-dependent United States enjoys cheap natural gas and falling carbon dioxide emissions, while the virtuous and environmentally conscious Europeans are shunning hydraulic fracturing, closing gas-powered plants, and building coal-fired electrical capacity." Cleaner energy in the United States, and the global pollutant coal in Europe! The reason is, of course, price.

The shale gas revolution in the United has not only led to a switch in energy use away from coal to gas in North-America, it has also led to lower prices for...