End of the Boom: The True State of the Shale Gas Industry
Estimates
for recoverable shale gas just keep falling. Last year, the Potential
Gas Committee, an industry consortium that focuses on long-term
projections, estimated that
recoverable natural gas from shale deposits in the United
States would amount to 687 trillion cubic feet (tcf). (This optimistic
appraisal laid the groundwork for the oft-repeated notion that the
United States has 100 years of natural gas supply at current rates of
consumption. The estimate was also based on so-called "speculative…
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