Shale Gas For Greener Energy On Obama’s Radar
With close to 100 million gallons of crude oil already spilled in the Gulf of Mexico and an estimated 2.1 million gallons of oil continuing to spill into the ocean every day, an article on SFGate.com highlights the importance of shale gas for the Obama administration in the wake of this disaster:
“Two words for President Obama, should he bring up the subjects of cleaner energy and climate change when he addresses the nation on the gulf oil spill: shale gas. the article says.
He could point to a recent Financial Times headline saying it ‘will change the world,’ and the fact that the $54 billion private equity firm Kohlberg Kravis Roberts & Co. appears to believe it. On Monday, it announced a $400 million investment in a Houston shale gas producer. That came just two weeks after KKR, whose major offices are split between New York and the Bay Area, sold its stake in a Pennsylvania shale gas producer to Royal Dutch Shell PLC for $4.7 billion, a fourfold return on its original investment,”
The Obama administration does have shale gas on its radar, though perhaps not strictly on US soil. In Novemeber, the United States and China announced a “US-China Shale Gas Resource Initiative” aimed a developing China’s shale gas reserves.
The question now remains, will the Gulf of Mexico oil spill shift the Obama administration’s focus back to its own shale resources?
Short URL: http://naturalgasforamerica.com/?p=831
Posted by admin
on June 16th, 2010. Filed under Environment, Shale Gas.
You can follow any responses to this entry through the RSS 2.0.
You can leave a response or trackback to this entry
