Bets are on Shale in Canada too!
Today, “Producers Make Bet on B.C. Shale Play” was published in the Globe and Mail, a national newspaper in Canada. The article was written by DAVID EBNER.
HIGHLIGHTS:
• companies have slapped down a surprise $178-million bet in British Columbia on the long-term future of natural gas
• the money is for new exploration rights to the hot Horn River play in northeastern B.C. The area is barely developed, but exploitation of similar geology in Texas and Louisiana is much further advanced.
• key players in the business are now convinced that politics will help underpin that demand, marketing the commodity’s ample availability, and its locally sourced and cleaner nature, compared with coal or imported oil.
• natural gas is cleaner than coal and oil, and doesn’t have to be shipped to North America from the Middle East, making the supply more secure – and keeping investment dollars closer to home. Gas is also usually relatively affordable, compared with oil.
• Industry groups – including the Canadian Association of Petroleum Producers – rushed yesterday to call gas “the fuel of the future,” “clean-burning,” and “sustainable,” after a U.S. report this week suggested new shale gas fields could supply current American demand for 100 years at current consumption rates.
Natural gas is positioned to be the clean fuel choice to lead North America to oil independence. If I were a betting person, I’d bet my loonies on Natural Gas !
C. Keddy
Short URL: http://naturalgasforamerica.com/?p=422
Posted by admin
on June 19th, 2009. Filed under Natural Gas, Shale Basins, Shale Gas.
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