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As I keep saying, shale gas is indeed revolutionising world
The US Energy Information Administration officially
uses the word `vast' for shale gas resources outside the US:
Although the shale gas resource estimates
will likely change over time as additional information becomes
available, the report shows that the international shale gas
resource base is vast
Remember that, according to IHS CERA, shale gas is proving cheap, whereas
shale oil is generally expensive.
Why is so little of this story in the mainstream media?
Ah, because they are too interested in last decade's story
still: I thought this was nicely put (by Peter Foster):
This week, U.S. climate envoy Todd
Stern acknowledged at the latest cast-of-thousands climate talks in
Bangkok that a binding global agreement on emissions is "not
doable." The talks have meanwhile been reduced to their shakedown
basics: US$100-billion of "climate aid" to countries that are poor
because they have lousy governments. This money would be laundered
via the terminally corrupt United Nations, the same organization
that orchestrated the cooking of the science.
On Tuesday, the International Energy
Agency, the IEA, in a report on "progress" in alternative energy,
in fact revealed that such energy is all but irrelevant. Almost
half of the increase in primary energy use in the past decade has
come from coal. Almost all the rest has come from oil and gas. Last
November, the IEA's World Energy Outlook signalled - reluctantly -
that political commitments to slash fossil fuel use were so much
Peak oil theorists and other Malthusian
moralists are - as ever - being made to look ridiculous.
Private-sector ingenuity has most recently upset the depletionists
in orchestrating a shale gas revolution, which promises hundreds of
years of additional supply. The IEA's chief economist, Fatih Birol,
admitted earlier this year that shale gas would further undermine
wind and solar. Meanwhile, other recent studies have suggested that
improving technology may soon unlock the vast resource of shale