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Shale Gas Bubble About to Burst


Science & Tech  (tags: Art Berman, Bill Powers, shale gas, fracking, shale oil, Shale Gas Ponzi Scheme, Big Bank Bailuts 2008, 100 years natural gas myth, Petroleum Truth Report, Powers Energy Investor, Petroleum Geologist, Enron )

Judy
- 641 days ago - my.firedoglake.com
Food and Water Watch recently demonstrated that the dominant narrative, "100 years" of unconventional oil and gas in the United States, is false. At most, some 50 years of this dirty energy resource may exist beneath our feet.



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Comments

Terry V. (30)
Friday November 23, 2012, 4:36 pm

Planet Earth is Dying

Eve of Destruction
 

Yulan Lawson (156)
Friday November 23, 2012, 7:03 pm
We must act now before it's too late.
 

Freya H. (304)
Friday November 23, 2012, 8:26 pm
We need to rely more on renewable energy.
 

Judy C. (106)
Saturday November 24, 2012, 1:29 am
So true, everyone!
 

Robert O. (12)
Saturday November 24, 2012, 12:05 pm
All the more reason to maximize the wonderful benefits and advantages of renewable energy resources. Good article. Thanks Judy.
 

g d c. (0)
Saturday November 24, 2012, 1:02 pm
ty
 

Theodore Shayne (56)
Saturday November 24, 2012, 1:10 pm
I was in Toronto in 1989/90 when the real estate bubble burst. Everything from construction to trades and a lot more was tied to it. Nothing has changed. Everything in Canada is still tied to one industry - Oil. Canada needs to learn to diversify. It also needs to start focusing on making smart deals that benefit Canada and not foreign investors and the financial insiders.
 

Lois Jordan (55)
Saturday November 24, 2012, 1:50 pm
Excellent posting. Thank you, Judy!
 

Mitchell D. (130)
Saturday November 24, 2012, 6:25 pm
Accepting the pronouncements of the fuel industry, is like believing a snake when he/she says "I don't bite." Isn't there an Aesop's Fable, or something like that?
The corporations are out to do nothing but suck up federal subsidies and profits, pocket bonuses, then move to the next venture.
 

Mindy P. (16)
Saturday November 24, 2012, 7:41 pm
This is the statement that most struck me

"It’s a deep dive into shale gas production numbers that have led insiders like Powers, Berman and others to conclude that the behavior of the industry is akin to Enron’s behavior in the 1990s, described by some as a “Ponzi Scheme” in a June 2011 investigation by The New York Times."
 

Robin T. (14)
Monday November 26, 2012, 7:18 am
@ Mitchell D. Rather trust the snake. It's more likely to be telling the truth than the oil Barons.
Why are they exporting gas if there is so little in reserve. Oh yes! more Profit.
 
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