Special to WorldTribune.com

ABU DHABI — The Gulf Cooperation Council has been focusing on the
developing U.S. shale energy industry.

Saudi Arabia and other GCC states were preparing for a major conference
that would examine the fallout of the U.S. shale industry for conventional
energy producers.

Organizers said the World Energy Council forum would seek to determine whether the shale industry would reduce the price of conventional energy resources, particularly from Gulf Arab states.

“The shale gas revolution has caused ripple effects around the world,” World Energy Council secretary-general Christoph Frei said. “It has offered North America renewed hope of being energy self-sufficient, is fueling
Russia’s new position in gas, altering the global flow of energy trade, and opening up for the first time the possibility of the de-linking of oil and gas prices.”

The council plans to conduct its next parley in South Korea on Oct.
13-17. Organizers said Saudi Arabia was expected to dominate the
proceedings, with a keynote address by Saudi Aramco chief executive officer
Khalid Al Falih.

  fracking, Gulf Cooperation Council, Gulf states summit to gauge fallout from booming U.S. shale industry, World Energy Council