The worst fears of OPEC and Asian gas exporters are about to come true. U.S. shale drillers who pushed domestic crude production to a 45-year high and unlocked record amounts of natural gas are letting those supplies loose into global markets they were absent from for decades. The tanker of shale oil that shoved off from a Texas port on New Year’s Eve and a shipment of liquefied natural gas that’s prepared to set sail later this month will inaugurate a new era of competition among the world’s largest energy producers. With the Organization of Petroleum Exporting Countries already pumping all-out to undercut rivals and hold tight to market share, lead member Saudi Arabia must now contend with additional pressure from U.S. oil producers, who collectively vaulted to No. 3 in the world. Meanwhile, voracious importers of natural gas from Japan to Spain now have an alternative source of […]