Release Date: 11-Jul-2012
Just when the world was getting gripped in frenzy over speculations of depleting oil and gas reserves resulting in an upward climb of prices, shale gas has come out to be the rescuer, pacifying nerves all over the world giving the energy industry an abundant resource to keep thrusting. Aptly termed, the game changer, shale gas is an unconventional hydrocarbon source found in plentiful quantities all over the world beneath the conventional oil and gas layers, making it the prime contender for exploitation in the current energy scenario where easy oil and gas is fast exhausting. Shale gas is increasingly being looked at as the answer to the vexatious question looming over many a nation of energy security. Shale gas development has become the latest trend in the energy industry with governments, domestic and international companies from private as well as public sector putting their might in making it a success to help their dependence on oil.
With multiple consequences, shale gas is rapidly becoming the apple of the world’s eye, a world which is slowly getting tired of treading deeper and deeper waters in search of oil too expensive to become affordable. Natural gas, being cleaner and greener, has become the clear new choice of fuel and the abundant shale gas has given it just the required thrust to overtake oil as the most popular fuel. Its reserves being found in energy deficient countries have given them new hopes of reducing their dependence on imported oil and gas. Shale gas has brought in a new wave of energy diplomacy which will see policies being altered to accommodate the transactions of this new found abundant source, with the focus being shifted from the dominating oil and gas rich nations to the new shale gas rich nations.
The energy scenario in the world is already beginning to show signs of change and in the coming years, the shift from oil and gas trade will be evident, a change triggered by the worldwide shale gas reserves.
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