Offshore Drilling Backlash May Boost Shale
The decision by US President Barack Obama to extend the moratorium on deepwater offshore drilling for the next six months may be prove to be good news for the shale gas industry.
Jon Hurdle and Jeffrey Jones of Reuters report the development of shale plays in the US will likely “speed up” as the country scrambles to come up with “less-risky energy sources” in the wake of a continuing massive crude oil spill in the Gulf of Mexico.
“It’s neither a straight nor clear line from Gulf oil to other forms of energy to the north, yet it is important for energy markets wondering whether fallout from the BP spill will constrain future deepwater oil supply,” the article says.
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