Analysis of Innovative Factors in the U.S. Shale Oil and Gas Revolution and Enlightenment for China

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Abstract The shale oil and gas revolution is one of the best examples of innovation. Theoretical and technological innovation and innovation in management and business models have collectively facilitated the development of shale oil and gas. Among them, theoretical innovation is the foundation, technological innovation is the most important driving force and innovation in management and business models is a powerful guarantee for promoting the scale development of shale oil and gas. Analysis reveals that the longterm investment by the U.S. government in basic research, along with corresponding fiscal and tax policy guarantees, a highly competitive free market mechanism, and a system of professional collaborative division of labor, have laid a solid foundation for innovation in the U.S. shale oil and gas revolution. While recognizing the positive and proactive role of innovation in the shale oil and gas revolution, it is also important to deeply understand the differences that China faces in the exploration of shale oil and gas, in terms of geological resources and policy mechanisms. It is recommended to enhance the integration of industry, university and research to lay out innovation, strengthen policy support, innovate business models, and pay attention to the development of digitalization and intelligence.

Published: 25 December 2024

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