Fracking Is Here to Stay
Source: Financial Post, Christopher Swann (8/30/11)
"Even by ultra-conservative reckonings, there's still up to 109 years of production remaining."
Bad news for natural gas wildcatters is often music to the ears of environmentalists. So opponents of fracking—the controversial gas extraction method—pounced on sharply lower government estimates of the gas contained in the Marcellus shale surrounding New York's aquifers. If the economic prize is far smaller than previously thought, they argue, why take the ecological risks? But investors shouldn't be alarmed. Even by ultra-conservative reckonings, there's still up to 109 years of current production. . .View full article