While financial analysts are mired in gloom over double-dip recessions, sovereign-debt issues and trade wars, energy experts are pinching themselves with cheerful disbelief. Shipowners, meanwhile, should be in the middle somewhere, feeling nervous.
That is because of the “shale revolution” that has turned the North American gas scene upside down — and it could do the same for oil.
It may also not be something that is confined to the Eagle Ford and Bakken fields of the US but could be a new source of cheap power in Argentina, Poland and, most importantly, China.
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