The Drivers Behind America’s Energy Boom: Lessons For Europe
On June 12, GMF’s Brussels office, with the support of the U.S. Mission to the EU, hosted a discussion on “Drivers Behind America’s Energy Boom and its Lessons for Europe.” Speakers included J. Robinson West, co-chairman of the board of GMF and senior advisor with the CSIS Energy and National Security Program, and Artur Woźniak, energy specialist at GAZ-SYSTEM S.A, a company in charge of natural gas transmission and the management of the gas pipelines in Poland. The discussion was moderated by Kristine Berzina, program officer of GMF’s Energy & Society Program. Approximately 35 people attended from a wide variety of fields, ranging from the business sector to policy and research organizations.
West gave an insightful and informative presentation on “U.S. Energy: The End of the Old Order” that explained the drivers behind the recent transformation of U.S. energy production. In a few short years, the U.S. energy supply has transformed from scarcity to abundance because of the shale oil and gas. West focused on the significance of markets and prices in bringing about this shift. He also addressed ongoing debates on U.S. crude oil export policy and European interest in U.S. liquefied natural gas exports. Woźniak balanced the discussion with an assessment of Europe’s and Poland’s newest developments in the natural gas sector. A single natural gas market has been crucial to the emergence of the boom in the United States, and Europe is seeking to build a single natural gas market. Woźniak described ongoing natural gas pipeline projects in Central and Eastern Europe and their potential future impact on integrating the European gas market.
The lively event included debates on the politics behind energy reforms, Europe’s views on the United States’ gas exports, implications of the new energy era for China, shale gas in Europe, and the differences between European and U.S. policies on climate change. The event ended by concluding that competition in the energy sector is key for both the United States and Europe.