The economy has been underperforming for over five years now. It’s easy to worry that this unsettling trend might go on forever. Well, don’t worry. Because shale gas will probably change everything.
Last year, the U.S. bested Russia to become the world’s biggest exporter of natural gas, thanks largely to shale gas. President Obama celebrated the moment by saying that the United States is the “Saudi Arabia of natural gas.” It later turned out that the United States is also the Saudi Arabia of…oil, with its oil production scheduled to overtake Saudi Arabia’s by 2015. That’s next year.