More than 45 companies have qualified for drilling rights offshore Lebanon.

If the world’s third-largest oil exporter overcomes an array of challenges, the International Energy Agency predicts the Middle Eastern country could more than double its oil supply within about eight years.

The lure of shale gas is generating interest around the globe with Saudi Arabia being one of the latest countries to focus on defining its unconventional gas resources.

Despite the possible negative consequences from the Iraqi Oil Ministry, some companies are taking chances and heading north to Kurdistan to explore for oil.

More balanced energy policies are needed to provide economic growth, energy affordability and environmental soundness.