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The U.S. shale boom has cut natural gas prices, and they could go still lower if the Chinese...

The U.S. shale boom has cut natural gas prices, and they could go still lower if the Chinese come through with finds on a similar scale. But Chevron (CVX +0.5%), which is actively fracking in China, doesn’t expect rapid progress in production there, due to a shortage of geological data and insufficient infrastructure to support U.S.-style shale exploitation.
Comments (2)
  • JohntheOld
    , contributor
    Comments (181) | Send Message
     
    How in the world does the possibility of China developing shale gas in the future affect US nat gas prices....? Or are we just writing a headline?
    5 Dec 2012, 01:22 PM Reply Like
  • Chazuu
    , contributor
    Comments (156) | Send Message
     
    Johntheold.
    Please read the following quote from the New York Times---

     

    "HOUSTON — In a victory for the oil and gas industry, a federal Energy Department study released Wednesday concluded that the national economic benefits of significant natural gas exports far outweighed the potential for higher consumer energy prices.
    The Obama administration has been cautious to embrace large exports of gas out of concern that consumers who rely on gas for heating and cooking could see their utility prices rise. Higher exports could raise costs to manufacturers that now benefit from a glut of cheap gas, some economists warn, although huge terminal projects would generate thousands of construction jobs and gas could be a lucrative export earner."
    5 Dec 2012, 04:37 PM Reply Like
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