Document summary
This report explores the significance of unconvential oil and gas, specifically shale and gas which has become an energy source about which the whole world cares. HSBC predicts however that while shale energy may be a revolution for US oil and gas, it will only have a modest effect on the US economy, adding an estimated 0.2-0.3% per year to US GDP growth over the next five years. Other countries who are also blessed with unconventional reserves may follow in US steps though environmental, geological and geopolitical issues remain.