Governments counting on the cash and jobs bonanza from shale drilling might soon be out of luck, as a long period of very low gas prices is causing drillers to shut down wells.
Chesapeake Energy, Conoco-Phillips, Noble Energy and Consol Energy have all announced plans to cut back spending and close off wells.
Low prices deflate natural-gas rush
People looking at the falling prices, were wondering how long the drilling boom could go on. Unlike, coal or oil, gas is almost impossible to ship without a pipeline, creating a very localised market.
No comments:
Post a Comment