NORMAN — Intellectual dialogue was sparked Thursday between students, professors and industry experts about the impact of the U.S.’s increasing energy supply at the Price College of Business Energy Institute’s Energy Symposium.
The Symposium, titled “The Economic and Geopolitical Impact of North American Energy Security,” featured five leaders in the energy industry and focused on the dramatic growth of oil and natural gas reserves that are bringing North America closer to energy independence.
Joseph Stanislaw, founder of the advisory firm The JAStanislaw Group, served as the symposium’s keynote speaker. During his presentation, Stanislaw shared his experiences and insights on emerging energy realities.
“You’re (Oklahoma) the home of a revolution that’s shaking the world right now,” Stanislaw said.
Stanislaw then asked the audience what they would say about Russia, the United States and Saudi Arabia, before describing each in such a way that was reflective of a possible shift in geopolitics.
Russia is the only country in the world that celebrates the oil and gas industry in September, Stanislaw said. The United States may become self sufficient in energy resources in the next decade, and Saudi Arabia — a major oil exporting country — may become a zero net exporter in 15 years, Stanislaw said.
He asked the audience to think about how these statements suggest a tectonic shift in the gas and oil industry.
“Thank goodness for Oklahoma. Seriously, if we didn’t have the shale revolution taking place in gas and oil right now … Europeans don’t quite say it that way. They say, ‘You have low prices, and we can’t quite compete with you.’ But what they’re really saying is, ‘Thank goodness you’re producing it because if you didn’t produce it, the price would rise even higher.’ This is profound. Think about Saudi Arabia not exporting oil and the shape of the globe if that were the case.”