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Thursday, May 23, 2013

Expert Says Shale Gas Bubble Will Burst Within 2 to 4 Years

From EurActiv:
But according to David Hughes, a geoscientist and former team leader on unconventional gas for the Canadian Potential Gas Committee, the US boom on which many base their expectations is founded on shifting sands. 
“The cheap price bubble [in the US] will burst within two-to-four years,” Hughes said. “At a high enough price, the supply bubble will burst perhaps 10-to-15 years later, when drilling locations become sparse.”
“Supply can be maintained for many years,” he added, “but only at much higher prices with ever-escalating environmental impacts due to the accelerating number of wells that must be drilled.”
You can read more about this by clicking here.

Of course, defenders of the industry are not impressed with Hughes' predictions.  David Blackmon, who writes articles that appear on various outlets, including Forbes and Energy in Depth, had this to say on Twitter about Hughes:

What do you think?  Is there merit in Hughes argument, or is the whole idea of the shale gas bubble just another way for activists to fight fossil fuels?

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