February 26, 2013
The Shale Phenom: Miracle With a Fatal Flaw
Randy Udall, Christian Science Monitor
At a petroleum conference held some years ago, at the dawn of the shale rush, Richard Nehring, an industry veteran, was asked whether shale gas was “just a band-aid.”
“I hope not,” Mr. Nehring laughed. “Because we need a tourniquet!”
In 2000, the experts were unanimous: American oil and gas production was in terminal decline. By 2015, it was said, we’d need 10 supertankers a day, carrying 12 million barrels of crude, plus 10 billion cubic feet of liquefied natural gas.
TAGGED: Natural Gas, Shale Gas