Yergin says this year’s conference is exploring what he calls “drivers of change”, a shift that he says is re-shuffling the U.S.’s position as an energy exporter. He says huge shale plays here in Texas have been game-changers.
“The speed with which natural gas is taking market share away from coal and electric power is very striking and that is having a big impact on our CO2 emissions, which are down 13 percent in the last six years. Natural gas is going to continue to play a bigger and bigger role in our overall economy and it will be driven by price, availability and by government policies.”
The Eagle Ford shale in south Texas and the Barnett shale in north Texas have both yielded huge amounts of natural gas and oil. IHS CERA week continues through Friday.