Gas shales: Energy market solution or problem?

摘要

The latest resource estimate suggests the US has nearly 100 years' of gas production, meaning this Cleaner-burning fuel could bridge the economy from a dirty-fuel-powered one to an economy with fewer greenhouse gas emissions. But the successful exploitation of these gas shales so far has contributed to a drop in natural gas prices during the past two years and raises questions about a sustained near-term price rebound. Last June, the Potential Gas Committee announced the highest US natural gas resource estimate in its 44-year history, largely due to the success of producers exploiting the gas shale formations underlying many oil- and gas-producing basins in the US. The emergence of gas shales as the driving force for North American oilfield activity raises questions about this resource's role in the industry's future. Many believe gas shales have forever changed the US energy picture for the better by enabling greater harvesting of a cleaner fossil fuel. Others challenge the economics of gas shales, suggesting producers are merely destroying shareholder capital once again. Are we about to enter Utopia or witness a train wreck in 2010? Many producers claim gas shale production is remarkably profitable, but those claims rest on a shaky foundation of reserve and production cost estimates. While the potential is attractive, the rewards may be some time off.