If energy companies can overcome the current recession and start exploiting shale gas, the volume of these deposits has the potential to change energy policy, Engelder says. If gas companies can prove the reliability they claim—that a shale gas well can continue to pump gas steadily for 20 or 30 years—policy makers could count on a huge, consistent domestic supply of natural gas to replace carbon-dense oil or coal. The low carbon content of gas is a major enticement to companies, with talks in Congress of enacting a carbon tax or cap-and-trade system, the latter garnering the support of President Obama. U.S. shale gas could have implications beyond our borders as well—with dwindling production and a growing reliance on Russian gas, Europeans are investing billions in exploring U.S. fields and purchasing drilling technology. |
Apparently the environmentalists aren't succeeding in making us starve in the dark at the rate I feared. Well, quite yet anyway...
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