2018 | OriginalPaper | Chapter
2. How We Got to Now: A Brief History of the Shale Energy Revolution
Author : Andrew R. Thomas
Published in: American Shale Energy and the Global Economy
Publisher: Springer International Publishing
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Abstract
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The Carbon Age burst out of its adolescence during World War 1.
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Supported by its domestic energy prowess and access to foreign oil, the United States rose to global dominance as the undisputed superpower during and after World II.
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The American-created Bretton Woods System bolstered global capitalism, which has underpinned and maintained an unprecedented era of peace and prosperity around the world.
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Global capitalism and its many benefits are intimately tied to a reliable and secure hydrocarbon supply.
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Energy shocks starting in the 1970s raised real doubts about the future of American energy security, the sustainability of American Empire, and, the overall future of global capitalism.
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Early Twenty-First Century innovative developments in energy extraction from shale rock—originating in the USA—coupled with unique characteristics of the American society have altered the global energy landscape.