While growth in U.S. production—some 5.2 million barrels in seven years and 1 million of that in just the 12 months ending April 2015—is expected to wane at a newly lower oil price, potential remains for the U.S. to speed past Russia as the new number two producer–second only to Saudi Arabia. When–rather than "if"–is the question and how does this—along with natural-gas potential—create a North American energy powerhouse.

  • Matt Shirk, senior manager of transaction advisory services at Ernst & Young; and
  • Dave Pursell, managing director and head of securities at Tudor, Pickering, Holt & Co.