huju, “leading producer” and “not much impact” is economic malpractice looking myopically at a small part of a total picture. I’ll eat my hat if this is written by Larry Summers.
If there were no fracking, the prices would have been up whenever Saudis or Russians wanted it earlier.
And this is more than just prices. We are now sending – expensive – LNG to Europe. If we (and others like Qatar) did not have it, Europe would have already forced Ukraine to agree to “peace” losing half of their country.