Skip to main content

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

Comment Preferences

  •  You are correct (11+ / 0-)

    Last week I counted 14 pending applications to export massive amounts of natural gas, although Cheniere has the only issued permit.

    A few years ago these same companies built several $2 billion terminals to import natural gas, but prices went upside down, and $2 billion import terminals became worthless overnight.

    If shrinking domestic gas supplies turn these proposed export terminals into useless industrial white elephants,  these speculators will choke on the irony.

    I research these gas fields all day long and the hype is overwhelming and 100% positive that there is an overwhelming amount of gas there and scarcely touched so far.

    •  But the people selling those investments already (1+ / 0-)
      Recommended by:
      zenyata

      have the cash in hand. It serves them to keep the bubble going as long as possible. Thus the glowing articles from the IEA and Harvard think tanks about America's looming energy independence.

      That REI guy needs to start reading theoildrum.com

      Reaganomics noun pl: belief that unregulated capitalism can produce unlimited goods for unlimited people on a planet with finite resources and we the people can increase revenue by decreasing revenue.

      by FrY10cK on Fri Nov 23, 2012 at 07:43:13 AM PST

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site