By Daniel Hunter
The global impact of shale oil could revolutionise the world’s energy markets over the next couple of decades, resulting in significantly lower oil prices than would otherwise be the case and a consequent increase of around £500-800 in GDP per person in the UK (at today’s GDP values), according to new analysis from PwC.
The report, Shale Oil — the Next Energy Revolution, examines scenarios that consider the potential impact of future growth in shale oil production on global oil prices and assesses how these changes could impact the wider economy and the oil and gas industry over the period to 2035.
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