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Scientists eye fracking in Arctic and ocean floor

Dire warnings of a potential $60T hit to the global economy from a warming Arctic as methane is released from melting permafrost comes as scientists say they are closer to tapping methane hydrate as a fuel source potentially containing more energy than all previously discovered oil and gas combined.

Some take issue with the warning, saying the likelihood of a "methane pulse" runs contrary to prior research.

Successful development of methane hydrates could impact big LNG projects such as Australia's $50B Gorgon development led by Chevron (CVX).

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Comments (5)
  • nemonemo
    , contributor
    Comments (334) | Send Message
    Shame. Few of Obama friends are involved in this deal and expected to make $35B.
    29 Jul 2013, 12:41 PM Reply Like
    , contributor
    Comments (131) | Send Message
    "Successful development of methane hydrates could "impact" big LNG projects such as Australia's $50B Gorgon development led by Chevron (CVX)."


    Please clarify......impact positively or impact negatively?


    Today's WSJ also has story on this.


    Thanks for clarification.....impo... story
    29 Jul 2013, 12:48 PM Reply Like
  • icopeland
    , contributor
    Comment (1) | Send Message
    ^how could it impact LNG projects positively? They just stated that this a supply that could rival all other supply discoveries thus far. The implication of this piece is that the price of LNG will bottom out rendering investments in LNG, such as Chevron's, ineffective.
    29 Jul 2013, 03:07 PM Reply Like
  • akmetz32
    , contributor
    Comments (29) | Send Message
    Maybe in the future, but probably not in the lifetime of the Gorgon LNG project. This isn't the type of thing that will become commercially viable overnight, but the potential is incredible.


    Here's some great reading on the subject directly from the USGS:


    A more journalistic read on the matter:
    30 Jul 2013, 12:44 AM Reply Like
  • Hendershott
    , contributor
    Comments (1656) | Send Message
    Everyone has been fooling around with this stuff for years, including Howard Hughes. We'll get it when we need it or if the recovery gets cheap.
    29 Jul 2013, 06:30 PM Reply Like
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