In 2006 I was at a Natural gas conference where one of the speakers mentioned a word that few had ever heard – Shale Gas. Mind you that was the time when Natural Gas prices in the US were north of USD 20/MMBtu and there were countless LNG import terminal projects up and down both coasts. North America was the biggest price fo all Natural gas exporters. It was with 3 digit billions. And it all fell apart faster than a house of cards when this unknown resource from nowhere hit it. What energy policy planned for shale? None. No politician gave a hoot about those rednecks and their frackers. Shale developed despite of politicians – not because of them. Stop pretending – the market is better than all your brain-farts.
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