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View Diary: Shale Gas Bubble About to Burst: Art Berman, Bill Powers (89 comments)

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  •  Don't laugh! (2+ / 0-)
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    Lujane, Calamity Jean

    Numerous odd ideas have been floated over the years to get that oil (still estimated at 900 million barrels).  Now that new oil extraction technologies have been developed that don't require high ground gas pressures, I bet someone is already drawing up investment plans to go after it.  

    "When a nation goes down, or a society perishes, one condition may always be found; they forgot where they came from. They lost sight of what had brought them along." --Carl Sandburg

    by Mote Dai on Thu Nov 22, 2012 at 07:25:29 PM PST

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    •  Well... (3+ / 0-)
      Recommended by:
      Roger Fox, Mote Dai, Calamity Jean

      ...they shouldn't have drawn out all of the natural gas, then. But they'd need a whole tishload of either nitrogen or carbon dioxide to extract that big a load of oil, and I don't know where they would get it easily.

      Float like a manhole cover, sting like a sash weight! Clean Coal Is A Clinker!

      by JeffW on Thu Nov 22, 2012 at 08:12:04 PM PST

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      •  Most of it was wasted (13+ / 0-)

        Indiana tried to regulate the industry and stop the flambeau practice.  Some gas providers voluntarily stopped the practice.  The State passed regulations were fought tooth and nail in the courts with the State Supreme Court finally saying the State regs were OK at about the time the damage was done and the pressure had dropped to levels too low to extract the associated oil.  The gas providers overstated the amount of gas available and actively fought regulation, even the kind that would protect the resource itself, through years of court action.  Sounds a little familiar, doesn't it?

        "When a nation goes down, or a society perishes, one condition may always be found; they forgot where they came from. They lost sight of what had brought them along." --Carl Sandburg

        by Mote Dai on Thu Nov 22, 2012 at 08:21:07 PM PST

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