The United States shale revolution didn’t just transform West Texas, and it didn’t just transform the energy sector, and it didn’t just transform the entire U.S. economy. It was a boom felt around the world. As the United States flooded international markets with cheap and plentiful shale oil and gas over the past decades, it shaped whole economies, industries, and communities around it. And now, as that revolution winds down, it’s hard to say where the damage will end. It’s been a hard year for all oil markets, as the spread of the novel coronavirus decimated global oil demand. Matters were made worse when the OPEC+ leading nations of Saudi Arabia and Russia disagreed over how to respond to flagging oil demand, which then devolved into an all-out oil price war, causing a massive global oil glut and pushing oil storage to a premium. While this series of unfortunate […]