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The Market Oracle

Natural Gas Fracking Boom Turns Sour

Shell, which by energy output is now approaching 60% gas, has already backtracked and downsized its shale gas and oil programs…

By: Andrew_McKillop Mar 09, 2012 – 09:51 AM

Exxon, which by energy output is now 49% gas,  failed in its first two efforts to crack gas-rich shale fields in Poland…

Shell, which by energy output is now approaching 60% gas, has already backtracked and downsized its shale gas and oil programs. Initially intending to spend about $5 bn on drilling shale field this year, its CEO Marvin Odum now places spending at $3 billion to $5 billion, Odum adding: “We’re at the lower end of that right now because of where natural-gas prices are”. read more

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