Abundance of Methane Hydrates will Destroy the Oil Market
U.S.
Department of Energy (DOE) Secretary Steven Chu contributed a statement
to an announced breakthrough in research into tapping the vast fuel
resource of methane hydrates that could eventually bolster already
massive U.S. natural gas reserves.As Al Fin pointed out yesterday
natural gas is priced to a barrel of oil equivalent at about $10-$11 per
the estimable Geoffrey Styles view, something less than 10% of the cost
of oil. For North Americans adding a viable and hopefully low cost
means to make use of gas hydrates could be giant boost…Read more...
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