5/29: China On Track to Outspend US in Pursuit of Shale Energy
Like the US, China is hotly pursuing energy independence via development of its own internal shale resources, but at what a Bloomberg Report cites as quadruple the cost. While US wells can have a price tag as low as $2.6 million, the Chinese are spending an average of $10 million per drilling site. (Read more)
5/28: Legislature to Fast Track Fracking Bites the Dust in Illinois
A bill that would have accelerated the launch of hydraulic fracturing in Illinois was defeated this week in Springfield. The shale gas industry has been vocal in posing concerns that delays might scuttle development in the area permanently, but the Illinois Department of Natural Resources is still in the process of composing industry regulations for fracking in the state. (Read more)
5/28: Meanwhile, in North Carolina, Fracking Sails Through the House
With a vote of 63-52, the Republican-led majority in North Carolina’s House green-lighted preliminary approval for a Senate bill to fast-track fracking. Democratic opponents posit the bill was rushed through with negligible public notice or scrutiny, but the final draft could hit Governor Pat McCrory’s desk by next week, with new fracking permits in the offing as early as 2015. In other legislation, a law outlawing the release of proprietary formulas for fracking liquids was also recently introduced by state Republicans. (Read more)
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5/28: EU Energy + Shale – Russia – Renewables = New Equation
Concern over the crisis in Ukraine has caused the EU’s Energy Commission to rethink its future fuel strategy. With 40% of the bloc’s gas currently coming from Russia, the EU has opted to make shale gas a priority. The move is designed to lessen Europe’s energy dependence on Russia, however, as shale production gears up, the planned development for alternative, non-fossil-based fuels will likely also take a hit. (Read more)
5/27: Poland Puts Plans for Supply Chain Factory in Motion
Reuters reports that Poland’s Baltic Ceramics Investment issued shares this week in preparation for funding construction of a supply chain factory geared to the anticipated needs of Poland’s rising shale gas sector. Dariusz Janus, head of IndygoTech Minerals, the holding company controlling Baltic Ceramics Investments told Reuters: “We will have the first such factory in the European Union.” (Read more)
5/23: Geological Survey Says: Weald Yield Questionable
Just-released results from a recent British Geological Survey have thrown an unexpected monkey wrench into plans for the development of shale gas in Great Britian’s Weald Basin. The report indicates that the area is likely to yield substantially less recoverable resources than originally thought. (Read more)
