U.K. Says Shale Gas Fields Twice Size of Previous Estimates – Bloomberg 06-27-13

Salient to Investors:

The UK said fields of shale gas in northern England are twice as large as previously estimated.

A recovery rate of 10 percent, similar to fields in the US, would give the U.K. enough gas to meet demand for about 47 years.

Lawrence Carter at Greenpeace said the idea that shale gas will get the economy moving is groundless, because the fracking industry’s own research reveals that production won’t reach meaningful levels until the next decade.

Corin Taylor at the Institute of Directors said we now have official confirmation Britain’s shale gas resources are enormous.

Read the full article at  http://www.bloomberg.com/news/2013-06-27/u-k-says-shale-gas-resources-twice-size-of-previous-estimates.html

Click here to receive free and immediate email alerts of the latest forecasts.