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Carbon Shock: Economic and Political Implications of the Revolution in Fossil Fuel Technology

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The development and deployment of such new extraction technologies as hydro-fracking, steam-assisted gravity drainage, and deep-sea drilling has produced a revolution in fossil fuel production, allowing the exploitation of energy reserves once considered inaccessible. Like all industrial revolutions, this has had profound political, economic, social, and environmental consequences. In addition to extending the reign of fossil fuels, it is shaking up relations among the major powers.

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