Akin Gump’s Doug Glass Quoted on Energy Trends in Legal Business
Doug Glass, a Houston-based partner in Akin Gump’s energy and global transactions practice, was quoted extensively on trends in energy resources and markets in Legal Business.
Glass notes, “Energy is a growth area, when other areas are shrinking. So energy has become the key driver of expansion—particularly for U.K. firms into China and Australia. That is simply because clients drive them there—I can’t think of any other business sector where it is as prevalent.”
On the growth of shale gas, Glass says, “The shale gas revolution is one of the most important trends shaping energy markets today. In the U.S., it has attracted companies from around the world, with players from China, Korea and India.” Regarding the related discussion on hydraulic fracturing (or “fracking”) in extraction, he notes, “There is a serious debate over the use of fracking. Third parties have expressed concerns that it can cause groundwater contamination and even small earthquakes.”
That said, concerning the upward trend for this sector, Glass says, “Even companies from the Middle East and Russia have been piling in to get some of the oil and gas action.”