Forget Oil, Shale Gas Just Gets Sexier
A new article on the Financial Times Blog takes a look at the year’s major US shale gas projects including shale play developments, oil giant acquisitions and the overall growth of what author Gwen Robinson calls “the sexy new energy play.”
In the last year alone, shale gas has made major advancements in becoming a viable option for a new energy source in the US. Companies, investors and governments alike have been exploring shale’s potential.
From ExxonMobil‘s $41 billion acquisition of shale specialist XTO Energy, to international investment in the US shale plays by Reliance Industries, to Kohlberg Kravis Roberts & Co. – a private equity firm – dropping $400 million in a joint venture with Hilcorp Energy to develop the Eagle Ford Shale in Texas, to the Obama administration announcing the “US-China Shale Gas Resource Initative,” the reality of shale is quickly setting in across America.
With BP‘s disastrous oil spill taking center stage over the past month and highlighting the very real dangers and consequences of relying on crude oil, the article suggests shale gas will unquestionable come to light not only as a “sexy” alternative, but also as a very serious game changer for the energy sector:
“The combination of the oil spill and the Masey coal accident should further shine a light on gas. The administration HAS to think more about about incentivizing use of clean, available, domestic natural gas, given the identification of massive shale resources in recent years.”
Short URL: http://naturalgasforamerica.com/?p=843
Posted by admin
on June 21st, 2010. Filed under Eagle Ford Shale, Shale Basins, Shale Gas.
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