Editor’s note: For more updated information from Keith Kohl on Shale Gas Stocks, click here…
Fracking has been a topic of some recent blog posts, most notably our discussion of New York’s current situation. In the posts I said that fracking has a chance to beat out renewable energy.
Well, that may just be happening…Lousiana has begun to cash in on the shale gas/fracking trend. They knew that gas reserves sat in-between the shale rocks two and a half miles down, but there was no way to extract it economically.
But now that extraction is possible and popular, over the past few years we’ve seen shale gas help consumer gas prices fall by about a third.
What does all this shale talk mean for our future as a gas dependant society? It means gas security to the US and Canada for maybe 100 years.
It also means an opportunity to generate electricity with half the CO2 emissions of coal.
As Shell’s Russ Ford puts it, “Shale gas is a once-in-a-century opportunity. It’s giving north America energy security from imports, it’s offering a lower-carbon fuel, and it’s creating jobs.”
Shale gas is looking more and more like solution to our foreign gas dependency and national security issue that accompanies it.
Happy Gas Investing,