Q1 2015, the Organization of Petroleum Exporting Countries (OPEC) voted to favor market-share rather than defend prices; the subsequent fall in oil prices has prompted a drop in drilling activity in the United States and layoffs in the oil and gas sector.
Shale gas, a natural gas found trapped within shale formations, is an increasingly important source of natural gas in the United States since the start of this century. In 2000, shale gas provided only 1% of U.S. natural gas production. By 2010 it was over 20%.
The shift to natural could provide several advantages. Potentially lowering the cost of national supply chains and enhancing the United States’ global competitiveness, natural gas could lower domestic fuel costs for long-distance trucking in the United States.
Research shows that California, the Great Lakes and mid-Atlantic areas are well-positioned for this launch, due to their proximity to high-volume travel corridors.