The big implication isn’t that the US will be producing more, but that there are far larger recoverable reserves and production opportunities around the world. The US is surely not the only country with a Bakken-type formation. Petroleum production opportunities are probably nearly ubiquitous. This stuff will get exploited at some point, but even the knowledge or suspicion that its out there will make oil shock threats much less likely.
“The big implication isn’t that the US will be producing more, but that there are far larger recoverable reserves and production opportunities around the world.”
The map I saw of potential reserves showed Australia as a major player - good for Crocodile Dundee and the good guys!