In yesterday’s Wall Street Journal, Amy Myers Jaffe writes about the potential of shale gas to transform not only the world’s energy markets but the geopolitics associated with its development and delivery.

“In the end, what’s important to understand is that shale gas may be the key to solving some of our most pressing short-term crises, a way to bridge the gap to a more-secure energy and economic future.

The trade deficit has crippled our economy and shows no signs of abating as long as we remain tethered to imported energy. Why ship dollars abroad where they can destabilize global financial markets—and then hit us back in lost jobs and savings—when we can develop the resources we have here in our own country? Shall we pay Vladimir Putin and Mahmoud Ahmadinejad to develop our natural gas—or the citizens of Pennsylvania and Louisiana?”

While New Yorkers are focused on the DEC’s tightening of its drilling regulations, it is important not to lose sight of the bigger picture: development of the natural gas resources in the Marcellus Shale will help to strengthen our nation’s security while providing good jobs at home.

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