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The shale plays have made America an energy powerhouse without most of the world realizing it. Production is growing in the us. There's also shale plays worldwide. China has 1.5x the oil we have estimated but they haven't even begun to frack yet due to the shale formations being in more densely populated areas. America sits on even more natural gas from the shale
. In fact we are burning natural gas in North Dakota as we frack for oil since the infrastructure doesn't exist up there yet to process and ship it all.
What's further interesting is no one has mentioned about how Moscow has backed off the Ukraine situation, and is caving to EU demands now. They invited Ukraine over to check their border posts lol. Quietly the US permittee 2 companies to start exporting liquefied natural gas, prior to this it was illegal. Ever since that happened Putin has changed his tune, dramatically. If the world doesn't need Russia's energy or becomes less dependent on his energy he's screwed in a bunch of ways, and even though he inked a massive deal with china, they now see how he treats his customers when they become dependent on him.
**edit: Russia parliament revoked his right to send troops in as well recently. Russia has changed it's tune dramatically since the us hinted we'd start exporting natural gas (to the most obvious place of EU)
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