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U.S. Experiences Shale Gas Boom

08 Oct

Shale gas in the United States is booming, and the industry is bullish on future growth.

During the first half of 2010, $21 billion dollars has been funneled into shale gas projects and companies by investors all over the world.  Recent notable investments include Barclay’s $1.15 billion acquisition of some of Chesapeake Energy’s shale assets, and General Electric’s $3 billion purchase of Dresser, a manufacturer of gas engines used in natural gas production.

Technology and drilling advances have resulted in a supply glut, which in turn has pushed natural gas prices down to their lowest levels in a decade.  Yet the industry is still optimistic about future industry growth as demand for cleaner-burning fuels grows.  The United States is poised to increase its role as an exporter to the world, joining Russia, Qatar and Australia on the global stage.  Read more here and here

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