"Shale extraction... is pushing down energy prices and creating many new opportunities for jobs, investments and manufacturing.Second paragraph above: "And the new innovations are unique to the United Sates. Although other countries will exploit shale, none will come close to the low costs in the U.S." Remember the recent story about XOM pulling out of shale exploration and production in Poland? It turned out to be not because there is no shale natural gas there, it was because the bureaucracy was too hard to deal with.
And the new innovations are unique to the United Sates. Although other countries will exploit shale, none will come close to the low costs in the U.S. That's because the U.S. has a unique governmental structure in which many powers remain with the states, along with a very competitive market for the product, as opposed to the monopolies and oligopolies that control the market in almost every other country.While it may sound like the latest energy fad, the shale boom is for real and a serious game changer because of its size and potential longevity. Based on equivalent amounts of energy, natural gas has been about half as expensive as oil for many years.
Friday, June 29, 2012
Natural Gas Revolution -- US Impact -- CarpeDiem
Link here to CarpeDiem.com.
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Yes. And as Europe goes downhill, the country of France, sitting on the Paris Basin which is approx the size of the entire Bakken, has not yet come up with a decision on fracking, although the oil bearing strata is 8,000 ft down from the surface. No common sense can prevail. So they will remain with high unemployment and buy their oil from Libya, as long as they have Merkel's (Germany's) cash.
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