Analyst: gas shale may be next bubble to burst
DENVER – An analyst warns that the promise of enough natural gas to last the nation more than 100 years based on discoveries of vast shale formations could be the next speculative bubble to burst.
Geological consultant Arthur Berman says his analysis shows that gas shale fields in Texas and elsewhere aren’t as profitable and likely don’t contain as much retrievable gas as the industry and others portray. He spoke Monday at a conference in Denver exploring the notion that the world’s oil and gas supplies are diminishing rapidly.
Energy company executive Peter Dea (dee) says such unconventional gas fields as shale and the Rockies’ tight sandstone will play a key role in the nation’s energy future.
The Association for the Study of Peak Oil and Gas conference runs through Tuesday.