Forbes: The Popping of the Shale Gas Bubble

[GliderGuider]

2. OK, now tackle J. David Hughes on the topic.

http://shalebubble.org/drill-baby-drill/

From the Executive Summary of his report:

Shale gas production has grown explosively to account for nearly 40 percent of U.S. natural gas production; nevertheless production has been on a plateau since December 2011 —80 percent of shale gas production comes from five plays, several of which are in decline. The very high decline rates of shale gas wells require continuous inputs of capital—estimated at $42 billion per year to drill more than 7,000 wells—in order to maintain production. In comparison, the value of shale gas produced in 2012 was just $32.5 billion.