Thursday, October 31, 2013

Fracking Is A Game Changer In The World's Energy Markets

Shale Gas Boom At 'Tip Of Iceberg' -- Ken Silverstein, Forbes

Despite warnings that the shale gas boom would wither, industry is getting pumped in certain areas as their numbers are only headed higher. That’s according to government analysts, who are drawing special attention to the Marcellus Shale region in the eastern states where production is skyrocketing.

The region is beating its forecasts, which is made possible by the advancement in drilling technologies. In fact, the U.S. Energy Information Administration is saying in a new report that breaks down productivity levels according to region that the gains in new gas wells are more than offsetting the declines from the existing ones. The Marcellus Shale, it adds, accounts for three-fourths of growth in the nation’s production.

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My Comment: The dream has always been to undermine the power of OPEC .... that is now becoming possible through developments of technology and engineering.

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