Saturday, June 22, 2013

Bursting the shale gas balloon

Apparently there's not as much of it as some companies said (although there is quite a lot, considering), it currently costs more to extract it than it's worth (although if the price of gas goes up, this will change accordingly), and the companies involved are in a competition to the death, with some expected to fail (and that's capitalism, folks -- except that someone has to clean up the mess).

http://www.guardian.co.uk/environment/earth-insight/2013/jun/21/shale-gas-peak-oil-economic-crisis

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