A lot happening today and this story is of international importance. This is something we touched on at Greenbelt and in our book. I’ve never thought shale gas is going to be the game-changer that some people think it is. It takes a lot more drilling and therefore energy to extract and also fields deplete really fast. It puts a floor under gas prices. If the gas price is high enough then its worth extracting otherwise its not. At the same time a glut of gas stops conventional gas extraction. So the price falls then rises then falls. Its likely there will be less investment in conventional gas and hence a rise in prices. Good news for the fragile Arctic environment and climate change since the only way to get people to conserve and switch to renewables is for prices of conventional energy to rise.
Do our US readers agree? Is there anything you’d like us to cover?