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Cheap and plentiful shale gas might prove to be the real deal

April 04, 2010|By Jay Hancock
The Baltimore Sun

Drill, baby. Just not in the ocean, where there probably isn't much new oil anyway. Head for the mountains, where newly available reserves might hold 10 times the energy estimated to be off the East Coast.

Hopes for a new way of extracting natural gas have been bright for more than two years, after claim-staking "landmen" stormed Appalachia from New York to Tennessee. Now interest from Exxon Mobil and other corporate giants has prompted some smart people to start portraying "shale gas" as a very big deal that shatters assumptions about energy prices, America's power supply and the future of transportation.

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There are 194,500 acres represented in the Coalition as of 8/18/2010. The latest gas offers in New York State are $3000/acre with 20% royalties.

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