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Home » US dollar trims agains ahead of the House’s vote on reopening the government
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US dollar trims agains ahead of the House’s vote on reopening the government

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Since the early 2010s, the intensive and systematic development of the U.S. shale oil and gas sector has transformed the country from one of the world’s largest energy importers into one of its biggest exporters. Yet this transformation has not only redrawn the global energy trade map—it has also upended the balance of power established after the 1973 oil crisis.

 

Today, as global demand for natural gas surges amid fears of new conflicts and the explosive growth of artificial intelligence–linked data centers, Middle Eastern nations are seeking to expand gas production—particularly by developing their own shale resources. Both Saudi Arabia and the United Arab Emirates now view the U.S. not as a rival but as a vital source of technological expertise—an alignment Washington is eager to encourage. From a strategic perspective, participating in the energy infrastructure of other nations remains one of the most effective ways to sustain American influence and long-term interests.

 

Lessons from History: From the “Seven Sisters” to a New Energy Order

 

Before 1973, the global oil industry was dominated by a handful of Western companies known as the “Seven Sisters”:

 

* The Anglo-Persian Oil Company (later BP)

* Royal Dutch Shell

* Three descendants of Standard Oil (California, New Jersey, and New York)

* Gulf Oil

* Texaco

 

These firms controlled exploration, production, transport, and pricing until October 1973, when OPEC—led by Saudi Arabia, alongside Egypt, Syria, and Tunisia—imposed an oil embargo on the U.S., the U.K., Japan, Canada, and the Netherlands in response to their support for Israel during the Yom Kippur War.

 

By March 1974, when the crisis ended, oil prices had jumped from roughly $3 to about $11 a barrel, triggering a global recession that hit the West hard. Saudi Oil Minister Sheikh Ahmed Zaki Yamani later remarked that the embargo had fundamentally shifted the balance of power from industrialized consumers to resource-rich developing nations.

 

Washington’s Response: Divide and Rule Until the Shale Revolution

 

In the years that followed, Washington sought to keep Middle Eastern influence in check. It adopted a version of Henry Kissinger’s triangular diplomacy—used to manage U.S. relations with Moscow and Beijing—tailored to the Middle East. This strategy often resembled a “divide and rule” policy, exploiting economic, political, and sectarian divisions to prevent a unified front against American interests.

 

This approach persisted until the rise of the U.S. shale revolution, which once again reshaped the global balance of energy power. The shift became clear during the 2014–2016 oil price war, when OPEC—led by Saudi Arabia—attempted to undercut U.S. shale producers but ultimately failed. American drillers emerged stronger, having slashed production costs to historic lows.

 

From Competition to Cooperation: Riyadh and Abu Dhabi Turn to Washington

 

OPEC’s largest producers realized that the U.S. had transformed its nascent shale sector into a lean, highly efficient, and flexible production ecosystem. This prompted both Riyadh and Abu Dhabi to seek American expertise to develop their own unconventional gas resources.

 

In Saudi Arabia, cooperation began in 2019 with the massive Jafurah shale gas project, involving several U.S. companies, including National Energy Services Reunited Corp., which carried out large-scale hydraulic fracturing operations. U.S. asset manager BlackRock led a consortium that invested around $11 billion in midstream infrastructure.

 

According to Saudi Aramco’s Q3 2025 report, the first phase of Jafurah remains on schedule for completion this year, targeting production of 2 billion standard cubic feet per day of marketable gas by 2030—a key part of Aramco’s plan to boost total gas output by 80% this decade.

 

In the UAE, Abu Dhabi National Oil Company (ADNOC) is driving shale gas development to meet rising domestic demand and expand export capacity. Musabbeh Al Kaabi, ADNOC’s executive director of upstream operations, confirmed that the company is working with U.S.-based EOG Resources to apply advanced hydraulic fracturing technologies.

 

The Ruwais region serves as a focal point of these efforts. ADNOC now operates the Diyab Unconventional Gas concession after TotalEnergies reduced its stake, and the project has entered full development. The UAE aims to produce 1 billion cubic feet of shale gas per day before 2030, while simultaneously expanding its LNG export capacity with a new terminal that will add 9.6 million tons per year—more than doubling current output.

 

LNG and Artificial Intelligence: The New Drivers of Demand

 

Both nations are betting on the growing importance of liquefied natural gas (LNG) amid forecasts for surging global demand driven by data center expansion and AI adoption.

 

Since Russia’s invasion of Ukraine in February 2022, LNG has become the world’s go-to energy fallback, thanks to its portability and flexibility compared to pipeline gas. Before the war, China had already secured long-term LNG contracts at favorable prices, insulating itself from later price spikes. Since then, the U.S. has helped Europe sign new long-term LNG supply deals to replace Russian flows.

 

Looking ahead, AI-driven computing, cloud infrastructure, and heat waves are expected to account for **40–50% of incremental global gas demand through at least 2040**. Data centers alone could add **150–200 billion cubic meters** of annual demand—an increase of roughly **3.6% to 4.9%** over current forecasts.

 

In essence, America’s shale revolution—once a domestic story—has evolved into a global force reshaping the Middle East’s energy ambitions, with Washington now exporting not only hydrocarbons, but the technology and strategy that underpin a new geopolitical energy order.



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