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No one will really know until companies explore and drill.The drillers are already arriving in Europe and China, which are both expected to import increasing amounts of gas and are therefore keen to produce their own.
China used to import increasing amounts of steel, aluminium, chemicals and machinery, but import growth collapsed after 2004 when the government started to tighten policy, causing a sharp slowdown in construction, one of the biggest importers of machinery and materials.
Even if the United States were no longer dependent on oil from the tumultuous Middle East and North Africa, vital American trading partners like China, India, Japan and Europe would continue to import increasing amounts of oil from the region.
Its exports to the United States have plummeted from 1.7 million barrels a day in 2006 to a little more than 900,000 barrels a day in recent months, while it has been forced to import increasing amounts of gasoline from the United States refineries.
What incentives encourage universities to import increasing numbers of foreign students and postdocs -- and to insist that there are shortages of both -- while a growing surplus of native-born scientists struggle to find jobs that allow them to pay off student loans?
However, industrial fishing has depleted native stocks and developing regions such as Africa see falling harvests, forcing them to import increasing amounts of seafood from developed nations.
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Illegal import increases the risk of counterfeit products in other South East Asian countries [ 10, 27, 28].
Brazilian colonists, facing a compounding labour shortage in the mid-16th century, imported increasing numbers of African slaves.
The strengthening of the dollar is also likely to hit exports and increase the price of imports, increasing the US balance of payments deficit.
In 1791, landowners fleeing the slave revolt in Haiti began developing coffee, cotton and sugar cane plantations, importing increasing numbers of slaves.
To finance these imports, increasing amounts of hard currency were needed, and this could be obtained only by increasing exports to the West.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com