The American shale gas/fracking boom really distorted a lot of things. The strategic energy situations of the United States, the EU, and China were all pretty similar in the late 20th Century: major dependence on OPEC-controlled oil and gas. Post-fracking, the US strategic energy situation has diverged from the others.

This difference leads indirectly to things like the current "not war" in Iran. (Iran's geography already gives it strong bargaining power via pressure on energy markets. It would have an even stronger hand if the US was not capable of energy independence).

The long term impacts on climate changes are even more negative. It's hard to supplant a cheap, ubiquitous energy source with strong negative externalities when those externalities are subtle, gradual, and strongly denied via propaganda by entrenched interests.