This could be bad news for the Middle East because US/Canada could be the new OPEC. It is clearly horrible news for Russia because they had entertained hope that one day THEY would be able to set the price of crude oil – and change the mandatory exchange currency from dollars to rubles. If wishes were horses, beggars would ride.
The new oil field will produce many tens of thousands of dollars of jobs in the US and will lead to trillions in profit (and taxes for the US Treasury). I’ve often said that oil is the American escape clause for the massive and increasing national debt. I still believe that could be possible but it’s impossible to implement with a government intent on growing larger and spending more.
The location of that much energy under the ground in America’s heartland means that it is local, easy to access and easy to defend.