Monday’s Wall Street Journal features a special Energy section, and the lead story is “How Shale Gas is Going to Rock the World.” According to the Journal,
“There’s an energy revolution brewing right under our feet. Over the past decade, a wave of drilling around the world has uncovered giant supplies of natural gas in shale rock.”
Thanks to new techniques developed by U.S. natural-gas companies in the Barnett Shale, the cost of drilling for shale gas has fallen dramatically and has set the stage “for shale gas to become what will be the game-changing resource of the decade.”
Many benefits are ascribed to this new energy boom. Shale gas is cleaner than other fossil fuels. Its abundance will also facilitate a smoother transition to renewable energy sources without the need for costly subsidies. One of the most important benefits of shale gas is that it will give consumers fuel supplies close to home, “thus scuttling a potential natural-gas cartel.”
Huge discoveries of natural gas promise to shake up the energy markets and geopolitics. And that’s just for starters.
Read the complete story HERE (subscription may be required).