The shale innovation in North America has proven to be a game-changer for the global energy industry in more than one ways. In addition to other impacts, this has caused oil trade to fluctuate westward from its traditional markets in the Middle East. However, with oil prices falling sharply over the recent past, companies are required to be more responsive to the exceptionally dynamic scenario in the gas and oil industry. Climate changes have necessitated a clear set of actions from large energy firms.
Alternative energy is seeing an exceptional improvement and efforts are afoot to expand the current share of substitutional energy in the global energy matrix. However, this will only very marginally impact the current reliance on fossil fuels. Growth markets are already in progress to increase coal production in anticipation of emerging energy needs.
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