How big an impact could shale have on Europe?
- Written by Nick Grealy
- Published: 14 March 2011
Strange as it may seem today, but this time last year one of the objections raised by shale detractors was that shale gas was in fact too good to be true and would rapidly deplete. The main shale pessimist was Art Berman and the Peak Oil crowd. Here in the UK, John Dizard of the FT has been consistently, if incorrectly, channeling Berman in calling shale a delusion. Russia's Gazprom sounds desperate or is that merely self-serving:
Alexander Medvedev, deputy chief executive of Russia’s state-controlled gas company, likened the shale gas boom to the internet bubble, “which first blew up enormously and then flattened itself out to some rational and logical size”.Read more